Post # 1
I am just looking into this right now. Currently (as we are not married yet) we are with different health insurances. My FI can’t change his because of his heart condition and they specifically take care of that. I am wondering though if it is worth it to be joined together with the same health insurance? With his I won’t get the same dental benefits but the costs are quite similar. I’d love to hear what you bees think about this idea or what you have chosen to do.
Post # 2
It’s really hard to decide without knowing all the plan details such as coverage, deductibles, copays, etc. It might be worth it to be under the same plan in order to meet the deductible quicker.
For my husband and I, we both have our own health insurance through our respective jobs. Because he has his own coverage through his job, it’s actually more expensive to add him onto my plan and vice versa. We haven’t decided what to do when we have kids though…
Post # 3
I agree with Teaberrie. It’s hard to say without reading the plan. In some cases you’ll meet the deductible quicker BUT there are also individual and family deductibles. Also, it’s normally cheaper to pay for two different plans it is is to add a dependent. AND, if you’re concerned about dental coverage, dental insurance (and vision) is VERY affordable to get somewhere other than your medical provider.
Post # 4
It depends on the plan, but as others have said you may reach the deductible level quicker. But I think it would be worth it just because it would be easier to keep track of, and you would only be paying one premium.
Post # 5
I am still on my family insurance policy and all the medical bills and medications we all have (all of us need corrective lenses/glasses so that is a big cost in particular) and they add up so we get quite a lot back when we reach the level required, and that we get to fairly quickly! Plus my mother has less paperwork to do!
When FI and I are married I want us to be on the same insurance policy, definitely.
Post # 6
I see you’re from Australia (as I am, and Jacqui90 too). You should probably have said this because it’s the sort of thing which varies hugely from country to country.
Last time I looked, premiums for couples were exactly double what they are for singles. So I don’t see the point of merging.
Also I’m surprised your FI can’t transfer. Generally funds recognise each other’s waiting periods. For instance the Medibank Privare website says they recognise other insurers’ waiting periods, but not other insurers’ loyalty bonuses (whatever that means). But they talk about pre-existing conditions having waiting periods, so I would have thought that he’d have served the waiting period with another insurer so he’d be covered. (But obviously check with your insurer he goes to before changing).
Post # 7
It was more expensive for us to go to a family plan than it was to stay on our own single plans. You’d really need to read your specific plans costs/deductibles etc.
Post # 8
MrsBlackCat: I would say the best thing is compare costs and coverage. If as you said the costs are similar and you are not sacrificing anything in the way of coverage then go for it.
My DH and I are not on the same health plan. We both are provided insurance free of charge through our companies. He has Blue Cross and I have Kaiser. There wouldn’t be any financial benefit to switching one of us over as we would then have to pay. Our son will be on Kaiser (my plan) because it is better coverage overall and it will be more convienent and i will likely be the one to take him to the appointments etc.
Post # 9
Thank you very much everyone for your replies.
aussiemum1248: FI has a rare heart condition and has been with his health insurance since he was a baby, and the particular health cover he has is really important for him to be able to have operations, get his medication much cheaper and have twice yearly appointments. He has looked into other health covers and even if you are with them for more than 5-15 years they do not offer the same cover for his heart. It isn’t entirely about the waiting periods but more about what they can offer to help him with this. I’ve still got to look into more things though, you are right about merging accounts are pretty much double for couples so I will have to see what will be most affordable.