Tips About Health Insurance for Newlyweds
Just married? Congratulations! The countdown to getting health insurance after marriage has begun. Depending on your situation, you may either have 30 or 60 days to get health insurance.
Here are a few tips that may help you make the choice that’s right for you, based on your situation.
If you’re both employed, review your employer’s offerings for health insurance after marriage.
Chances are, you have just 30 days to move to your spouse’s plan or vice versa. It could be that one of the plans offers low or no-cost spouse or dependent coverage. In that case, it might make sense to move onto that plan.
- Before you change plans, check to make sure the plan complies with the Affordable Care Act (ACA). ACA-compliant plans offer minimum essential coverage and no-cost preventive services, as well as a maximum yearly out-of-pocket limit.
- Compare apples-to-apples – sometimes the payroll deduction for employer health insurance after marriage may be little or nothing, but the plan may pay very little if you actually have to go to the doctor or hospital. Along with the payroll deduction, compare deductibles, copays and coinsurance percentages.
Before you choose health insurance for newlyweds, do your homework!
If you both have your own health plans you purchased for yourselves.
It’s a good idea to review the insurance plans you have – you may choose to keep your existing plans. However, if you want to change plans, you have just 60 days to get health insurance after marriage.
- You could become eligible for Advance Premium Tax Credits (APTC) if you’re on the same health insurance after marriage. By law, married people must be on the same plan in order to access federal subsidies to help pay for their insurance premiums. If you’re wondering if you could qualify for subsidies, answer a few questions and find out.
- Review the networks included in each of your plans. You might find that the doctor or clinic you prefer is not on either plan. In that case, it might be a good time to switch to a plan that offers a broad network with access to the best hospitals.
If you have other questions about health insurance for newlyweds, contact us and we’ll help!