Yes, losing coverage from a parent’s health insurance plan is considered a Qualifying Life Event (QLE). This means that a young adult may qualify for a Special Enrollment Period up to 60 days before or after their loss of qualifying health coverage.
Outside of Open Enrollment and following the loss of coverage, an individual has 60 days to enroll in a plan. When applying for Virginia's Insurance Marketplace coverage through a Special Enrollment Period, an applicant may be required to provide documents to confirm the QLE.
Additionally, a young adult’s tax dependency status may impact their eligibility for financial savings. As these can be nuanced cases, please reach out to the Agent/Assister line at 888-687-1502 for additional assistance.