Skip to comments.Insurance question (vanity)
Posted on 01/14/2013 6:04:28 AM PST by edcoil
My company will not allow me to opt out of its insurance plan. I have looked into getting my own and it would be half what I have to pay for the company's plan.
I don't see where that is right or even legal to burden me with the additional costs - if I can find less expensive insurance I should be able to get it.
Anyone else in this position and anyone know short of suing or leaving what my option are? Thanks.
You would be able only to opt in or out during open enrollment.
We chose not to have my husband’s company insurance this year, opted out during open enrollment but in order to make that move we had to prove we had health insurance somewhere else.
They explained because of obamaCare the employee must have insurance, the company has to prove to the feds everyone is covered or face huge fines.
It may depend on your state regulations.
Also, you may find cheaper independent insurance, but I would bet the coverage is vastly lesser that the company plan.
The answer is it depends... If you were in Texas that answer would be no. However, states like Hawaii have some funky insurance rules. My SO is an insurance consultant that designs plans for companies and bids them. If you can give me some more info she can find out. She needs what state is this in, is this a new job? How long have you been employed if not a new job and any union involved in this?
Hemmer on FoxNews just had a report from Stuart Varney that health premiums are going up about 50%.
At the conclusion of the report, Hemmer says that Obama promised that premiums would go down:
“It wasn’t supposed to be this way!”
If I remember correctly, Obamacare mandates that if your employer offers insurance, you must enroll.
Is this a very small company?
If you have a half-dozen employees and the youngest/healthiest declines coverage, that is gonna kick the curve up on rates very substantially for the remainder.
Legally I don’t think they can stop you from dropping coverage, but certainly that could cause them to kick and scream a lot.
I’ve seen cheaper rates for independent insurance during the quoting process. Once you apply and they look at your medical records the rates usually go up fast.
Legally they just make it a condition of employment.
You are probably young, single, and healthy, which therefore means that you are expected to incur lower health costs and thereby subsidize the costs of health care for other employees. The employer is probably required to include you due to the terms of its group insurance contract.
I find it hard to believe you can get insurance at half the cost. Normally single coverage is much higher than group coverage. Are you sure you got a real quote and are not just looking at an advertised price? The real quotes are often double what they advertise as their rate.
That has been my experience, too.
I’m thinking most employers would be eager to trim costs. Why not push the issue up the chain of command? If the deal you found is legit, it may benifit the company as a whole to switch providers.
On a side note, my mother opted out of employer provided health insurance and was paid the extra amount (not sure if it was 100%) of what the employer didn’t pay in premiums for her.
Two years ago I spent Christmas in intensive care with a guy who had similar insurance. His maximum coverage for hospitalization was $10,000.
Don’t know what his bill totaled but mine was around $184k.
My mother-in-law is in an extensive care facility and might be soon going to assisted living. We just received in the mail a notice that her premiums are going up 25%. No increase in coverage, no other changes. . .just an increase in the premium. Spoke with a lady working with the insurance company and she says this is the result of “free” obamacare, and some people called and cancelled and instead will go “on the dole” if long term care is necessary because they can’t afford the increase.
This whole obamacare thing is a deliberate plan to force everyone into government”care” as a way to control the people. Government decides who to cover and denies care to trouble-makers.
All of the above. Group coverage almost always is a better deal, despite contrary claims.
Plus—something not yet mentioned—I think you may want to avoid angering your employer in this very difficult job market. It might put you on the short list of people to be let go if cuts are needed.
Be careful to review the policies carefully. There are some policies that are not “insurance” but rather an indemnity policy. This means that there is a set amount that they will pay you for specific occurrences. For example, they may pay up to $XXX per day for hospitalization. This is different than paying X% of your hospitalization charges. Or, they may have set values for certain surgeries or procedures. These policies have strict limits on total payouts also. Mega Life is one of the companies I have seen pedaling these policies in the past. I agree with other comments, group policies are usually much richer than individual policies.
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