A life-changing event in the context of health insurance refers to a significant life occurrence that allows an individual or a family to make changes to their health insurance coverage outside the regular enrollment period. These events typically qualify for a Special Enrollment Period (SEP), during which individuals can enroll in a new health insurance plan or make changes to their existing coverage.

Common examples of life-changing events include marriage or divorce, the birth or adoption of a child, the loss of other health coverage, a change in residence that results in eligibility for different health plans, or a change in income that affects eligibility for premium tax credits or Medicaid.

These events are recognized by health insurance marketplaces and employer-sponsored health plans as circumstances that necessitate a reevaluation of health coverage needs. The Special Enrollment Period allows individuals and families to make adjustments to their health insurance plans outside of the annual Open Enrollment Period, ensuring that they have access to appropriate coverage during significant life transitions. It's important for individuals who experience such events to promptly notify their insurance providers and explore the available options to maintain or modify their health coverage.

The federal health insurance program for senior citizens in the United States is known as Medicare. Established in 1965 as part of the Social Security Act, Medicare primarily targets individuals aged 65 and older, offering them access to a range of health care services. However, certain individuals under the age of 65 with qualifying disabilities or specific medical conditions are also eligible for Medicare coverage.

Medicare consists of several parts, each addressing different aspects of healthcare. Part A, also referred to as hospital insurance, covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. Part B, known as medical insurance, covers outpatient care, preventive services, doctor visits, and some home health care. Together, Parts A and B make up what is commonly known as Original Medicare.

In addition to Original Medicare, beneficiaries have the option to enroll in Part C, known as Medicare Advantage. These plans, offered by private insurance companies, often include coverage beyond what is provided by Parts A and B, such as vision and dental care. Part D, on the other hand, is the prescription drug coverage component, helping beneficiaries afford their medications.