How Getting Married Affects Your Health Insurance Coverage
Getting married is a significant milestone in one’s life. It brings along many changes, from sharing finances to living together. But did you know that getting married can also affect your health insurance coverage? In this article, let’s explore how getting married impacts your healthcare coverage.
Marriage Qualifies for Special Enrollment
If you’re not currently enrolled in any health insurance plan, getting married can qualify you for a special enrollment period. This means you can enroll in a health insurance plan outside of the open enrollment period, which usually lasts for a specific period each year.
Within 60 days of getting married, you can enroll in a health insurance plan or change your current healthcare coverage. This allows you to take advantage of the benefits of having a health insurance plan to cover you and your spouse’s healthcare expenses.
Combining Health Insurance Plans
If both you and your spouse have individual health insurance plans, getting married allows you to combine them into a single family plan. This can mean significant savings in terms of premiums, deductibles, and coinsurance.
Combining health insurance plans allows you to share the healthcare costs with your spouse. In the case of an emergency, you won’t have to worry about which plan covers which expenses.
But before combining the plans, make sure to compare the coverage of each policy. Assess which one provides the most comprehensive coverage and decide which plan makes more sense as the primary plan.
Adding Your Spouse to Your Plan
If only one of you has health insurance, getting married allows for the addition of the other spouse to that plan. This means that your spouse will be covered under your health insurance policy.
Adding your spouse to your plan can mean an increase in your premium. However, as mentioned before, combining plans can result in significant savings. It’s essential to weigh the pros and cons before making the decision.
Changes in Income or Employment Status
Getting married can also impact your eligibility for financial assistance when paying for health insurance. If you previously qualified based on individual income, your eligibility may change after getting married.
If one spouse loses their job, they may qualify for a special enrollment period and add themselves to the other spouse’s insurance plan. Alternatively, if both spouses lose their jobs, they may qualify for COBRA, which allows them to continue the current coverage for a certain period.
Conclusion
Getting married is a significant transition in one’s life, and with it comes changes in health insurance coverage. Understanding how getting married impacts healthcare coverage can allow you to make informed decisions about your and your spouse’s health. As always, it’s crucial to compare plans, assess coverage, and weigh the pros and cons before making any decisions.
