Health Insurance for young married couple.?

Question

I am 21 and married. My wife is 20. I work full time at a public library and they cover 100% of my medical premium. If I want to add my wife, its an additional 350 a month!!! We can't afford that What are some options for my wife? Should I go high deductible or high premium?

Answer 1

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Answer 2

High deductible or high premium?  A good question.  Only you can really decide what’s going to work best for you, but here are some things to consider:

If your wife is young (which it sounds like she is) and relatively healthy, and rarely visits the doctor, then a health insurance plan with a higher deductible might not be a bad idea.  Your monthly premiums will be lower, which is nice if you have a limited budget.  And she can still maintain meaningful financial protection against an unexpected illness or hospitalization, though you’ll have to pay the deductible first before coverage kicks in.

On the other hand, if your wife visits the doctor more frequently or is on prescription drugs then it may be more advisable to consider a plan with a higher monthly premium and lower deductible. Regardless of how you search for a plan keep in mind that depending on your state regulations, some Individual & Family plans may not cover maternity benefits & make sure you specifically look for this benefit if there is a chance you may have children while your wife is on the Individual plan

Assuming that your wife doesn’t have any pre-existing medical conditions, you shouldn’t have much trouble finding something less expensive than $350 a month either way you go, but your options are going to vary a lot depending on where you live.  In order to find out what’s available in your state, you should talk with a local health insurance agent that represents more than one insurance company, or visit an online agency like the one I work for, eHealthInsurance.com.  Through our website, for example, you can get free personalized quotes for a broad range of health insurance plans in your area.  You can compare plans’ rates and benefits in detail and then apply for coverage online.  We also have licensed agents you can speak to for personal advice and assistance – the number is 1-800-977-8860.

Best of luck!

Amir M, licensed agent

Answer 3

350 sound like a little bit too much for a 20 years old person. It looks like your employer is acting like an underwriter not like a co-payer. I might be wrong but I think you can get a monthly coverage for less directly from insurance company. Try to obtain a multiple health insurance quote on line, here for example:  

http://www.wisepages.com/money/insurance

Answering second part of your question – as a rule of thumb in that young age it’s probably better to take higher deductible for out of network doctors. You can also consider a so called Catastrophic Plan, assuming your wife is in a good health, so she doesn’t need to go to the doctors on a regular base. So she’ll be covered just in case something out of ordinary (God forbid) happened. I think you can also combine Catastrophic and Maternity plans if you guys have “plans” in that department.

Good luck.