Should I opt for Short term health Insurance in this scenario?

Question

I lost my job recently. Since I was on a group plan, I have the usual expensive COBRA option. My new job does not come with health benefits. I can join on my spouse’s group health plan through his employer as a dependant but the open enrollment for that is only later this year. Should I just apply for short term health insurance meanwhile instead of an individual health plan? I am in my early 30s, healthy with no known pre existing conditions. According to what I have read online it seems to be OK. But I am not sure if it will be a smooth transition from short term insurance to my spouse’s group health plan. Should I expect any problems during the open enrollment because of my choice of insurance?

Answer 1

You may be able to join your spouse's insurance before open enrollment. Depending on the insurance carrier, sometimes the loss of your job could be considered a life event that would allow you to join the plan now. Have your spouse check into it for you.

I'm not sure exactly what you mean by short-term health insurance. Are you referring to a major medical plan? If you are healthy and you don't need any ongoing medical care, that would probably be a good option. It shouldn't interfere with your enrollment on your spouse's plan if you do need to wait until open enrollment. Open enrollment is a period when anyone can make any available changes or additions without having a qualifying life event. You can drop your other coverage at that time.

Answer 2

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Answer 3

If you involuntarily lost your group coverage, that would  be a qualifying event and your husband can change his elections without waiting for the next open enrollment.

Unless your husbands employer offers you a really good deal, or you are planning on needing maternity benefits, you would probably be better off with your own individual policy because you own it, not the employer. As long as you continue to pay the premiums your policy cannot be canceled.

Don

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Answer 4

You don't need to wait for open enrollment for your spouse's policy if you've lost coverage.  That's a 'life event' and you can go straight to her plan.  HOWEVER, don't do that without checking to see if you can get an indiviudal policy on yourself that's cheaper (and just as good) than the group policy.

http://insurancepickle.com/health-insura...

Answer 5

As already mentioned you should check your wife's plan to see if you can get on prior to open enrollment.

Otherwise, short term medical would be your best option. They don't have all the bells and whistles of an individual plan but will be there for catastrophic accidents or illness and the premium is reasonable. They are designed specifically for people in your situation.

Call a local agent that works with all the major plans in your area. The agent can explain the plans and find the best one for you and will save you a lot of time. There is no extra charge using an agent.