Is it ok to move wife's medical insurance and cancel my medical insurance?

Question

Though my company provides insurance (premium paid by me not company) , is it ok to move to my wife company medical insurance and stop my insurance? Do you foresee any problems with this?

Answer 1

Let me preface my answer with: I don't know where you live, whether or not you are in the USA or not, but here's how it would work if you were in USA.

If this makes sense for you financially - both in cost of coverage and the limits of that coverage, and your wife's company is allowing you to do so now, then go ahead.

If you should, at any time lose coverage because your wife is no longer employed there, or whatever the reason, you would be eligible to rejoin your group plan at that time. You would simply have to show proof of loss of prior coverage.

Answer 2

Check with her HR department and make sure you can switch before you cancel yours. Usually you can only let you change when you have an "event" such as a marriage, spouse changes jobs and is no longer covered, new baby, etc. You may have to wait until they have an open enrollment to make the change.

I don't see any problem with either of you being covered on the others insurance. Pick the one that has the best coverages between the two.

Answer 3

You can and should do this asap if your wife's company provides higher quality insurance. In insurance, cheaper is not the only thing to look at but the amount of coverage, how much a copay is for regular doctors and specialists, the cost of prescription drugs, yearly out of pocket maximums, life time maximums. Also is it an HMO or EPO where you can only do to specific doctors? Are your doctors members of her plans as the in and out of network fees are usually considerasbly different.

Sorry for such a complicated answer but it's not that simple an answer.

Answer 4

I think you need to look at the benefits and how they compare. Also most insurances have open enrollment so you can't just change in the middle of the year. Also get your wife to check because some companies are now making spouses go with their insurance(at their job) if its offered

Answer 5

You will need to wait for the open enrollment period to join here insurance. Before you join hers you might want to look at your options of having your own medical policy. You may want to try a website that compares multiple companies at once to get you the best price. I am paying less than ½ after I did.

Go to: http://www.insureme.com/landing.aspx?Refby=616163&Type=health

Take care,
Casey

Answer 6

Yes, there is a problem. What happens if wife loses her job? With both having medical insurance, usually a claim can be submitted to both insurance companies for payment. Don't be stupid! Are you rich enough to pay hospital and doctor's bills if you have no insurance?

Answer 7

you need to have the skill the call the coverage and ask for Cobra which permits you to preserve the coverage for 18 mths . in case you cant locate the money for call community wellbeing dept. All states have some variety of scientific wellbeing coverage purely for infants. healthful infants, Peach infants distinctive call for each state whether that's going to purely fee you 10- 15 money a month and no such situation is according to latest situation. so some distance as you X i fairly have self assurance you get what you supply so sit down back and watch his downfall.

Answer 8

The only problem I foresee, is that you can usually only add on during the "open enrollment" period - which is usually December, for most companies. I would make sure you're added on to her policy, BEFORE cancelling yours.

Answer 9

yes it's better