Two Health Insurance Policies?

Question

Currently I have two Health Insurance Plans, one issued by the company I work for (primary) and one issued by my husbands company (secondary). My husbands insurance coverage is much better than mine and I'm trying to decide if I should keep them both.

Here's the details:

Mine/Primary PPO:

Co-pay: $30

Deductible: $500

Coverage is 70% at participating doctors.

Husbands/Secondary PPO:

Co-pay: $15

Deductible: $150

Coverage is 90% at participating doctors.

I definately want to stay on my husbands which costs us ~$400 per year. My plan costs nothing, my employer pays for it.

I just can't decide if it's worth keeping both because I must use my insurance first. Is it worth the hassle to keep both and pay double co-pays at doctors visits so I can use both?

I guess it just seems stupid to cancel a free policy but the details of using both is fuzzy.

Answer 1

Under your circumstance,I suggest here for you to have a visit.http://health-insurance.expert-tip.info/...

Answer 2

If you decide to cancel your policy, will your employer add the difference to your paycheck? If so, you should probably cancel it.

If not, if it were me, I'd cancel it anyway. Makes no sense to carry two major medical policies. Besides, your husband's policy pays the most toward your medical bills.

If your husband should lose his coverage, you could probably get back on yours during the "open enrollment" period.

Answer 3

Your husband's policy is definitely a better policy, on the surface. Review a number of claims, comparing the payments from both side by side.

1.  Is your husband's policy actually picking up the difference between the incurred charge and what your coverage paid? (Not all do) The best plans will pay the difference--if you paid a $30 copay, and then $30 (on a $100 claim), his claim would pay an additional $27 (90% of the $30 that your insurance would require you to pay as your coinsurance), which would make your total cost only $33, rather than $60. Not many plans will pay the difference between the co-pays, unfortunately. His plan should also pay the extra $350 deductible that your plan hit you with.

2.  Is your copay $30 for primary and specialist? What about your husband's? Is it $15 for either?  And here's the big one--why are you paying two separate co-pays? You should pay the $30 for yourself, and that's it. A provider who is asking you to pay $45 is doing so incorrectly. Know in advance what the charge is going to be, so you can be ready to pay it, if they expect you to pay both your co-pay and co-insurance at the time of visit. On a $100 office visit, you should pay a total of $33 ($30 copay and $3 coinsurance).

3. What about hospitalization? Is there a separate deductible for hospitalization charges on either policy?

4. Is your husband able to add you to his coverage on a primary basis? Not all plans will allow this if the spouse has coverage available. There may be a "spousal carveout" charge, an additional monthly charge that he will have to pay because you have declined your own coverage.

Ideally, you would keep your own coverage. As long as his plan is picking up the difference, and it doesn't cost you anything, there's no harm in keeping it, especially if you can both be on it. He would be secondary under yours, though, so if you have to pay to keep him on your plan, I wouldn't advise it, unless you have some kind of fantastic benefit that his doesn't have.

If you need additional help sorting through the details, please send me an e-mail. I will gladly help you go through the plans.

Answer 4

if anything ever happened, you would have one h**l of a time coordinating those plans. any plan really. coordination of benefits is not as beneficial as people think it is. i would dump your plan and go to your husbands. his sounds like a great plan.

also, regarding another answer i read.. if something happened and your husband insurance canceled, you would be able to add back on to yours OUTSIDE of open enrollment.. its called a qualifying event (something that allows you to make a change mid year)...

Answer 5

Very unusual. But if you think about it you are paying an extra 15 dollars copay and then have a $500 deductible -- so you are paying for your insurance in a way.

Then there is the hassle factor. It is hard giving up a free deal but I don't see the value. I would drop it.