My wife needs medical insurance -- add her to my employer's or search for private?
August 4, 2011 9:09 AM Subscribe
My wife needs medical insurance -- add her to my employer's or search for private?
Being totally naïve to insurance shopping, is it generally better to add her to my employer's group rate or search for a private plan?
My wife's student insurance will expire soon. She's young (23) and healthy, certainly no chronic issues. She does have recurring prescription costs, birth control & hair loss horomone, so cheaper prescriptions would be nice. Dental & vision would also be needed.
My employer is a large software company (think Microsoft, but not Microsoft) and I would be paying roughly $120 / month to add my wife.
Being totally naïve to insurance shopping, is it generally better to add her to my employer's group rate or search for a private plan?
My wife's student insurance will expire soon. She's young (23) and healthy, certainly no chronic issues. She does have recurring prescription costs, birth control & hair loss horomone, so cheaper prescriptions would be nice. Dental & vision would also be needed.
My employer is a large software company (think Microsoft, but not Microsoft) and I would be paying roughly $120 / month to add my wife.
It's definitely cheaper to add a woman to a group insurance plan than buy private insurance. Women of child-bearing age pay quite a bit more than men do.
posted by michaelh at 9:11 AM on August 4, 2011
posted by michaelh at 9:11 AM on August 4, 2011
You're not going to be able to find decent private insurance for $120/month anywhere. I don't even think it starts at under a grand a month.
posted by griphus at 9:11 AM on August 4, 2011
posted by griphus at 9:11 AM on August 4, 2011
Definitely add her to your plan. It'll be a significant savings.
posted by ACN09 at 9:12 AM on August 4, 2011 [1 favorite]
posted by ACN09 at 9:12 AM on August 4, 2011 [1 favorite]
You will never ever ever in a million billion years find an even marginally useful private health insurance policy, let alone one with any kind of prescription coverage, for less than the $120 / month it will cost to add her to your policy.
I mean, unless you move to a civilized country.
posted by dersins at 9:13 AM on August 4, 2011 [6 favorites]
I mean, unless you move to a civilized country.
posted by dersins at 9:13 AM on August 4, 2011 [6 favorites]
Don't waste even one second looking at private insurance for her.
posted by COD at 9:15 AM on August 4, 2011 [1 favorite]
posted by COD at 9:15 AM on August 4, 2011 [1 favorite]
Not only is coverage going to be cheaper through your employer, it's probably much better coverage than you could get privately.
posted by mareli at 9:21 AM on August 4, 2011
posted by mareli at 9:21 AM on August 4, 2011
No question group plan. Even if it is only a major medical plan, you won't find that price privately.
posted by domino at 9:23 AM on August 4, 2011
posted by domino at 9:23 AM on August 4, 2011
Best answer: She can also be covered under her parents insurance until she turns 26 regardless of whether she's married or not.
posted by TheBones at 9:24 AM on August 4, 2011
posted by TheBones at 9:24 AM on August 4, 2011
Group plan all the way. a $120 premium is way lower than anything out there and the coverage will be infinitely better.
posted by DrGirlfriend at 9:25 AM on August 4, 2011
posted by DrGirlfriend at 9:25 AM on August 4, 2011
When I was unemployed, I paid about $120/month for a hospital-only plan- the "If I Get Hit By A Bus" plan. Take that group plan!
posted by ThePinkSuperhero at 9:32 AM on August 4, 2011
posted by ThePinkSuperhero at 9:32 AM on August 4, 2011
$120 a month! I can't imagine a private option is cheaper.
Getting a cheaper rate from a private insurer depends on your state and their regulations. If the state forces insurance companies to take the higher risk pool customers - then it will be expensive. If your state offers their own government program for the high risk pool customers than it may be cheaper. I doubt it though - $120 is a good deal.
Shopping around never hurts. However, I would ensure your decision is made before she looses her coverage. As a general rule when changing insurance plans - ask her old insurer for a "certificate of coverage" and file it for future use and to send to the next insurer.
posted by BuffaloChickenWing at 9:34 AM on August 4, 2011
Getting a cheaper rate from a private insurer depends on your state and their regulations. If the state forces insurance companies to take the higher risk pool customers - then it will be expensive. If your state offers their own government program for the high risk pool customers than it may be cheaper. I doubt it though - $120 is a good deal.
Shopping around never hurts. However, I would ensure your decision is made before she looses her coverage. As a general rule when changing insurance plans - ask her old insurer for a "certificate of coverage" and file it for future use and to send to the next insurer.
posted by BuffaloChickenWing at 9:34 AM on August 4, 2011
Response by poster: Thanks for the great response! Talk about the hive mind coming through. I didn't know it was such a lopsided decision.
@TheBones - thanks for the parental coverage options. I will check with my in-laws to see what's the better rate.
posted by n81acc at 9:37 AM on August 4, 2011
@TheBones - thanks for the parental coverage options. I will check with my in-laws to see what's the better rate.
posted by n81acc at 9:37 AM on August 4, 2011
As a datapoint, 10 years ago as a 20-something female in *PERFECT* health (non smoker, non drinker, no drugs), I was self-paying 350$/mo. The reason I bothered doing this, btw, is because insurers won't cover pregnancies unless you have been covered for a year to 18 months prior to inception. They've got women over a barrel.
posted by Ys at 9:45 AM on August 4, 2011
posted by Ys at 9:45 AM on August 4, 2011
Yeah, also check into what Ys mentioned. If there's even the possibility of your wife getting pregnant in the next few years, you'll want to have her on your plan, and not a plan that she'll age out of.
posted by roomthreeseventeen at 9:58 AM on August 4, 2011 [1 favorite]
posted by roomthreeseventeen at 9:58 AM on August 4, 2011 [1 favorite]
In my state, she could get so-so coverage (including so-so prescription coverage) for about that much per month. However, maternity and pregnancy services would be absolutely completely 100% totally excluded. For that reason alone you need to get her on your group plan. It's not even a question.
posted by KathrynT at 10:03 AM on August 4, 2011
posted by KathrynT at 10:03 AM on August 4, 2011
As of Monday any insurance plan she's on will have to provide no-copay birth control.
Your employer's plan is likely better because they probably have a better negotiated rate than what you'll get buying her one direct. If they contribute anything to offset the cost then it's better than paying out of pocket because it's an untaxed benefit.
posted by phearlez at 10:27 AM on August 4, 2011
Your employer's plan is likely better because they probably have a better negotiated rate than what you'll get buying her one direct. If they contribute anything to offset the cost then it's better than paying out of pocket because it's an untaxed benefit.
posted by phearlez at 10:27 AM on August 4, 2011
I agree with all the other points, and will add: It's a lot harder to arbitrarily kick someone off an employer's group plan if they suddenly develop an expensive medical condition (which isn't supposed to happen, but occasionally it does anyway with the privately insured). And in any expensive health care situation, there's usually someone who can go to bat for you with the insurance company. An individual customer has little power; a big mass of customers in a group plan has much more because the company doesn't want to lose all that business.
posted by mandanza at 10:59 AM on August 4, 2011
posted by mandanza at 10:59 AM on August 4, 2011
As of Monday any insurance plan she's on will have to provide no-copay birth control.
That would be August 1, 2012 - and only as plans renew. This won't affect the majority of employer sponsored plans until Jan 1, 2013.
posted by thatguyjeff at 11:10 AM on August 4, 2011 [2 favorites]
That would be August 1, 2012 - and only as plans renew. This won't affect the majority of employer sponsored plans until Jan 1, 2013.
posted by thatguyjeff at 11:10 AM on August 4, 2011 [2 favorites]
And plans can grandfather, so please ignore that informed sounding but incomplete advice.
posted by MarkAnd at 11:37 PM on August 4, 2011
posted by MarkAnd at 11:37 PM on August 4, 2011
When you check with your in-laws and your own plan, make sure that her insurance expiring is considered a Life Event - a reason that the company is required to allow you to make changes to the plan outside of open enrollment, which usually shows up in October. That should be taken into consideration as well as price; you don't really want her to go uncovered for any length of time for the reason Ys mentions.
posted by peanut_mcgillicuty at 5:37 AM on August 5, 2011
posted by peanut_mcgillicuty at 5:37 AM on August 5, 2011
This thread is closed to new comments.
posted by roomthreeseventeen at 9:11 AM on August 4, 2011 [4 favorites]