I’m enrolled in student health coverage now, but now I think I can get a better deal in the Marketplace. Can I drop student health plan coverage and go to the Marketplace instead?
If you are currently enrolled in a student health plan, you can still qualify for Marketplace policies and subsidies if you apply during Open Enrollment. During Open Enrollment, you can sign up for a Marketplace plan and, if your income is between 100% and 400% of the poverty level you can also apply for premium tax credits. You will have to drop your student health coverage by December 31, 2013 in order to remain eligible for premium tax credits in 2014.
Outside of Open Enrollment, you cannot voluntarily drop your student health plan coverage in order to qualify for Marketplace coverage and premium tax credits. However, if you involuntarily lose eligibility for student health plan coverage mid-year – for example, if you drop out of school and so lose eligibility for the student health plan – you will qualify for a special enrollment opportunity and be able to apply for Marketplace coverage and premium tax credits. The special enrollment opportunity will last 30 days, so be sure to contact the Marketplace promptly to notify them of your qualifying event.