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princess.kersty | Cancel Health Insurance? |
My boyfriend works for DynCorp and is not happy with his insurance. They're charging him $375 per payday (he gets paid bi weekly), and it's just for him and his daughter. They told him there's no way of canceling this policy until January of 09. Is there any other way around this?
Additional Details
I forgot to mention, this is in the state of Maryland.... not sure if this makes a difference or not.. |
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Insurance Made Easy.biz
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TamiM is correct If he is paying for health insurance with a pre-tax deduction he is only allowed to cancel his insurance during open enrollment or if he has a Qualifying Life Event.
This is an IRS regulation.
A Qualifying Life Event is an event defined by the Internal Revenue Service in Section 125 that allows you to change your election. QLEs include:
- Change in your legal marital status (i.e., marriage, legal separation, divorce, or death of your spouse)
- Change in your number of tax dependents
- Birth or date you adopt a child, or placement for adoption
- Death of a dependent
- Change in your dependent's eligibility
- Change in employment status (for employee, spouse, or employee’s dependent) that affects eligibility for health insurance benefits
If he is not paying pre-taxed he can cancel at anytime |
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TamiM
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This site is helpful: http://www.doi.sc.gov/faqs/Employer+Group+Health+Insurance.htm
>>If his employer is deducting his insurance premiums from his paycheck prior to assessing income taxes (pre-tax), there are only certain situations in which the Federal Government allows you to make changes in your deductions, except at the beginning of your new tax year. If you wish to have the specifics on this situation, please call the Federal IRS at 1-800-829-1040. That is a tax regulation, not an insurance regulation.
Keep in mind that once you find out how and when you can get rid of it, be sure you have another health policy in place somewhere. Insurance companies don't like to see gaps in coverage and it can be harder or more expensive when you go to get it again -- if you have lapses. |
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sarah314
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His company can make him wait until the next open enrollment to cancel, unless he has a qualifying event. (generally defined as stuff like marriage, divorce, birth, adoption, change in status from full to part time employee, etc.)
Unless he has a life changing circumstance that meets the definition of qualifying event, then he's stuck on the insurance plan until January 1st. Sorry. |
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Ducky
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First of all, it is a really bad idea to cancel health insurance coverage. If anything medical related were to happen, health insurance is the only mechanism that will make sure that the large brunt of the bills for service in a hospital, etc. are paid.
As for the current coverage, since your boyfriend's company won't let him make any changes until the next open enrollment period, it sounds like he is making contributions on a pre-tax basis through the employer's "Cafeteria Plan". This is actually a good thing; he is saving at least 25% in tax money. (Actual figures are based on his tax bracket; if he is in a 30% plus bracket, he is saving even more...)
The only way to make changes to an existing election during the plan year is because of a defined hardship such as: divorce, death of a spouse, child birth, etc. Cancelations can be made if an employer drops a carrier mid-term or a plan is discontinued by a carrier itself. PPO's are expensive, and family plans can run from $800/mo or more. Most people have not a clue as to the real "value"/cost of their benefits.
The cost of major medical insurance is on the rise, and is projected to continue over the next ten years. Under a cafeteria plan, more than one option is available; take care in choosing what your budget will allow. But, also be aware that lesser plans also don't provide as good of coverage. Take a look at supplemental plans like what Aflac offers if you choose to go with a higher deductible plan or an HMO. Good luck! |
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mbrcatz
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There has to be a qualifying event, for him to cancel it. Getting married to you, would be a qualifying event. Other qualifying events would be a death, divorce, birth of a child. |
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Jesse R
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That does not sound right. I do not believe he cannot cancel his policy anytime he wants.
Have your BF check into the written policy. If he signed some kind of contract with his employer he may be stuck, but if there is no contract he can drop whenever he wants.
*********** The comments about qualifying events and the IRS only pertain to certain insurance, not ALL insurance.
Most people pay their insurance after taxes, not before, and the IRS can say nothing about canceling insurance that was paid with after tax money. |
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Angela
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If he gets separtate insurance they should be able to disenroll him. But the company does have the right to make him wait till open enrollment.
Why is he unhappy? Its probably a pretty good deal. I was paying $200 a week just for myself at one point. Also, if he's thnking of buying his own insurance consider this. His employer is probably charging him BEFORE taxes. That way it doesn't really effect your ou of pocket. If you buy your own its AFTER tax money and will cost you more in the long run. And he probably won't get as good of coverage, |
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lestatsville
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jeese thats like 5 times what i pay, umm yea, marry him then tell them you have insuance on him |
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Worldly25
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He should NOT cancel till he finds a replacement. I do not think he will find any insurance family plan cheaper than that. |
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I am I, You are you
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Nobody in the United States can be forced to keep an insurance policy that they don't want. Insurance is an elected beenfit that can be offered to someone, not mandated. |
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