We have all heard family and friends discuss the qualifying life event, even if you did not know that is what it is called. When two people get married, they have a qualifying life event and have a 30-day period to consolidate health insurance coverage to one company. Having or adopting a child is a qualifying life event, death of a spouse or dependent is a qualifying life event, and loss of coverage is a qualifying life event. What happens when you are a single individual and you have a loss of coverage? This is the gray area.