What is The Definition of Qualifying Event?
Qualifying Event can be defined as, An event (such as employment or termination of employment, divorce or death of an employee) that triggers coverage of a group health insurance member under Cobra. See Cobra for more information.
Eligible events are life changes that allow you to change your existing health insurance plan or purchase a new one beyond the open registration deadline.
- Eligible events allow you to change your existing health insurance policy or take a new one beyond the open application deadline.
- The open registration period is usually at the end of the year and insurance coverage begins at the beginning of the following year.
- Examples of qualifying events are the birth or adoption of a child, the death of a spouse, or a change in marital status.
Regarding the unilateral Omnibus Budget Reconciliation Act (COBRA), the program triggered a continuation of the legal coverage clauses. According to the Department of Labor (DOL), the Cobra Health Benefits Regulations require group health insurance, which provides a temporary continuation of group health insurance that would otherwise be discontinued. It can take 18 to 36 months to maintain insurance coverage, depending on the program you are eligible for, and is usually associated with a small administrative fee in addition to the normal premium.
Qualifying events include:
- Dismissal of Insured Employee
- Short working hours
- Death of insured spouse
- Eligibility for health insurance for the insured spouse
- Bankruptcy of private sector employers
The definition of Qualifying Event is: An event that triggers insurer coverage.
Literal Meanings of Qualifying Event
Meanings of Qualifying:
Qualifying stage of the sports event.
Name something or something that qualifies for something.
Designation of the sports event qualifying stage.
Sentences of Qualifying
The scheme will offer tax breaks for eligible patients
The team finished the qualifying round in fifth place overall.
Meanings of Event:
One thing that happened was very important.
Sentences of Event
A great political event of the late 20th century
Synonyms of Event
circumstance, development, possibility, chance, contingency, happening, occurrence, event, incident, thing, probability, situation, case, likelihood, phenomenon