For example, in this part of the US, you can only enroll in a certain health insurance company between the weeks of 11-15 and 12-31. Apparently CMS, the regulatory healthcare branch of the government, enforces this rule. Doesn't that just make everything more difficult for the customers, providers, companies, and CMS itself? An entire multi-billion dollar business only gets to work for 8 weeks out of the year. Am I missing something, here?
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The IRS did this, to keep employees from jumping on for one month, putting in the claims, and then dumping the insurance. Employers didn't object, because it's a lot of paperwork and effort, if an employee wants to do that six times a year. It actually simplifies things drastically, AND, helps prevent adverse selection issues. **This is only for GROUP plans. As the Pickle mentioned, private coverage does NOT have these limitations.**
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