Health Care Insurance And How Life Changes Can Affect Them

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Why Change Your Health Care Insurance Because Of A Life Change

There are life changes that are significant enough, that you really do want to take a hard look at your health insurance to make sure that you are doing all the right things that you need to do. It might not just be changes in the benefits part of the health care insurance plan, it could be changes in qualifying, etc. Here are some of the typical life changes that you may encounter during your working career.

Why Getting Married Affects Health Care Insurance

Make sure that you have all the information that you possibly can on your spouse’s plan prior to making a Health Care Insurancedecision about whose plan you will continue with. You need to be very clear on all the details, including the criteria around adding a spouse and children to an existing health care insurance plan. There is usually a grace period that allows additions such as these. You need to make sure that you notify the plan holder in writing of any and all changes you wish to make to your plan. Keep a copy of all correspondence. No one has your interests at heart the way that you do.

Pregnancy, Childbirth or Adoption

Regulations stipulate that insurers cannot consider pregnancy a pre-existing condition, so all aspects of pregnancy are covered. Once again, the plan holders of your health care insurance have to be notified in writing within 30 days of birth or adoption. Find out if your plan covers baby care such as vaccinations, etc. If not, you may have to set aside additional funds to cover those expenses.

When You Child Is No Longer Covered by Health Care Insurance

When your child becomes of age, or ‘ages out’, as the health care insurance field terms it, you again should notify the plan issuers in writing to notify them of such an event. Under most plans, (in the USA) your child then has the option under the Consolidated Omnibus Budget Reconciliation Act (COBRA) to continue to receive coverage under his/her own health care insurance policy. They have up to 60 days after coming of age to apply to be transferred over under COBRA.

Divorce, Legal Separation and Death

If a policy holder dies, the employer has to notify the health care insurance company with 30 days. The surviving spouse (or children) then can apply for up to 36 months of coverage under COBRA. Cost of insurance premiums will rise, as the employer will no longer be contributing their portion, but it will in all likelihood be less costly insurance than applying for it on your own.

If there is a separation or a divorce, the policy holding employee has to notify the health care insurance company within 60 days in order for their spouse and children to transfer their policies over under COBRA. Makes sure that all requests for changes and transfers are in writing and that you have a copy. Telephone conversations (even with helpful employees of the health care insurance company) do not constitute clear advisement on your behalf. Don’t leave anything in doubt.

For more information, contact The Department of Labor’s Employee Benefits Security Administration (EBSA) at their toll-free number at 1.866.444.3272.

Till Next Time….

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Sigrid McNab

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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2 Responses to “Health Care Insurance And How Life Changes Can Affect Them”

  1. Hale Yes Says:

    Sigrid,

    (We gotta stop meeting like this :) )

    It’s always amazing when the “little” changes in life slip by us. We are so busy with the new child or new marriage that we forget to make changes.

    I know in Florida the law is very clear. The name on the beneficiary line of and insurance contract is binding. There have been thousands of cases where a recent widow or widower discovered that the name on the beneficiary line of an insurance policy was the ex-spouse. Insurance is the same way.

    I wish by experience with COBRA was the same as yours. I’ve had three times when I was eligible and the price was roughly three times what my previous insurance had been. It always ended up be cost prohibitive.

    Ah well.

    Thanks,
    Dr. Hale
    Hale Yes recently posted…Attraction Marketers: Cultivate Your Idiosyncrasy & OutsourceMy Profile

    [Reply]

    sigrid Reply:

    Hey Dr Hale. We meet again..
    Thanks again for the tip and your personal experience with COBRA. It pays to check ahead and see where your advantages lie.

    [Reply]

    Reply

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