Benifits when both spouses work

[AgustusM]

Might be a little cart before the horse here, but am looking for some feedback from you guys.

Years ago in my first marriage - I worked and my wife stayed home - so all of our medical/dental/etc was provided by my employer.

10 years ago I got divorced and still provided the benefits.

8 years ago the company I worked for went bankrupt and I got remarried. My wife had the "real" job and I have been running a consulting business. Thus all our medical comes from her.

Now with the current economy and they way things I going, I am starting to explore going back and working for the man. (and yes I know how bad it is out there, thus the cart before the horse part)

My question is if I land imaginary job is their any benefit to us both having health insurance, or am I better off negotiating this as something I don't need? (my wife's benefits are WAY better than standard)

[Lathum]

I see no reason to have health insurance through 2 places. You may want to explore other benifits like life insurance though.

[DaddyTorgo]

what lathum said - with the caveat that you may want to think ahead and make sure that you can pick it up from your imaginary job in the future if necessary (in case wife's employment situation changes)

[Samdari]

Before we had kids the wife and I each had employee only insurance from our respective companies. Both of them contributed the same amount no matter what plan you got, which we understood to be standard for the DC area. Thus, it was much cheaper for us to each get our own than to cover both of us through either place. It probably varies from place to place, so it would depend on the individual situations at either company.

[gi]

Depends on what the new company pays for. If both companies pay for the employees benefits but charge for any additions, then you'll each have your own insurances. Sometimes employers will offer more money if you decline benefits. This is one of those times where you'll have to run the numbers and decide what is the lowest cost that provides the benefits your family needs.

[AgustusM]

thanks for all the feedback guys.

wondering if anyone is in a situation where you and your wife both have coverage and some how it overlaps and helps pay for more.

for example our coverage is great but we have 4 kids and I have a bad back, so out out of pocket is still usually in the 4-6K range.

probably just wishful thinking on my part, but then again so is this fictional job at this point.

[RendeR]

Get a state job.


Telle's insurance is insanely good. FOr the entirety of Aemon's pregnancy and birth and everything since we MIGHT have shelled out 100-200 bucks.

[cschex]

Originally Posted by AgustusM

thanks for all the feedback guys.

wondering if anyone is in a situation where you and your wife both have coverage and some how it overlaps and helps pay for more.

for example our coverage is great but we have 4 kids and I have a bad back, so out out of pocket is still usually in the 4-6K range.

probably just wishful thinking on my part, but then again so is this fictional job at this point.

Depending on the insurance, if you are both covered on the other policy (and the kids on both) then one insurance can act as primary and the other will typically work as a supplement and pick up the co-pay, like how Medicare supplements work. If thats the case, you have to weigh the extra cost of premiums per month vs your OOP expenses.

[Drake]

Great question. My wife will be getting her first job in our 15 year marriage when she graduates from nursing school in May, and I'd started to wonder about managing benefits, too.

Thanks for asking this question, Agustus.

[rjolley]

The insurance through my company has a fee if my wife works and opts out of her insurance. You might want to make sure that's not the case for you.

My understanding of how the insurance works is, if you both have coverage, yours is used as your primary and hers is your secondary, and vice versa for her. So, if you have a $20 co-pay and she doesn't have one at all, you have to pay $20, she doesn't have to pay. I'm not sure if that's accurate, but that's the way I understood it from my insurance company when my wife went back to work.

[lordscarlet]

Originally Posted by Samdari

Before we had kids the wife and I each had employee only insurance from our respective companies. Both of them contributed the same amount no matter what plan you got, which we understood to be standard for the DC area. Thus, it was much cheaper for us to each get our own than to cover both of us through either place. It probably varies from place to place, so it would depend on the individual situations at either company.

Maybe this is why my first reaction was, "huh?" I pay a minimal amount out of my paycheck for health insurance, as does my wife. It would be far more expensive for me to add her to my insurance or vice versa. I am not aware of anyone I know that doesn't have each spouse under their own employer's insurance. Most employers heavily subsidize the premiums and I am unaware of anyone that will drop you from the insurance and give you more pay (I can't imagine it is of great financial benefit to them to drop one employee).

[Balldog]

For the longest time the companies I worked for have required the spouse to pick up their insurance in order to be on our insurance, trying to deter the spouse from being on ours.

[Mizzou B-ball fan]

I think the proper response is 'it depends'.

My wife is the clear bread winner and covers the benefits. I work as a IT contractor for the government. My contracting company paid me an additional $5,000 in salary when I waived my health care coverage option with them.

More often than not, pretty sure it's better to not have double coverage. It really doesn't provide that much more given the double premium.

[BigPapi]

Originally Posted by Balldog

For the longest time the companies I worked for have required the spouse to pick up their insurance in order to be on our insurance, trying to deter the spouse from being on ours.

As with myself. DuPont requires that my spouse provide her own medical- if it is available to her. And they WILL check.

[DaddyTorgo]

so clearly what we've learned from this thread is that there are a variety of arrangements and it makes sense to approach it on a case-by-case basis with both employers.

[JPhillips]

I've always been told that it's a bad idea to have two health policies covering the same person. There will likely be difficulties in getting payment if there is a major medical expense. Neither company will see it as their responsibility to shell out the cash.

[Mizzou B-ball fan]

Originally Posted by JPhillips

I've always been told that it's a bad idea to have two health policies covering the same person. There will likely be difficulties in getting payment if there is a major medical expense. Neither company will see it as their responsibility to shell out the cash.

That is correct. My father in law is a general practice doctor. He tries to hide dual coverage as best as he can to avoid that issue, but the insurance companies always seem to find out. As a result, he has to wait weeks or even months to get payment on some procedures when dual coverage is involved. Some doctors make the patient pay and only reimburse the patient if they get someone to cover the procedure.

[digamma]

Originally Posted by AgustusM

8 years ago the company I worked for went bankrupt and I got remarried.

Hell of a severance package.

We've used my insurance for the past 5 years, but recently added my wife to her own company's plan because they offered a specific coverage that we felt necessary for her (and which was not covered under my plan).

[DaddyTorgo]

Originally Posted by digamma

Hell of a severance package.

We've used my insurance for the past 5 years, but recently added my wife to her own company's plan because they offered a specific coverage that we felt necessary for her (and which was not covered under my plan).

too easy

[flere-imsaho]

Originally Posted by DaddyTorgo

what lathum said - with the caveat that you may want to think ahead and make sure that you can pick it up from your imaginary job in the future if necessary (in case wife's employment situation changes)

Losing your job is a Qualifying Event for most insurers (may be state law in many states, even) and allows you to immediately go on your spouse's insurance if you want, regardless of the Open Enrollment period.

My wife & I are both on my insurance because the benefits are considerably better. She does, however, get some additional Life Insurance through her employer, and it was a better deal for her to do STD & LTD with them instead of my company.

So, basically, you have to run the numbers. We've both had a number of jobs since we got married and I think we've done most every permutation by now.

I really can't see how both being on each other's health insurance will do anything other than force you to pay two premiums. I guess theoretically you could use the benefits of one over another as it makes sense, but I have a feeling you'd be heading for a world of hurt where paperwork is concerned.

[JPhillips]

it was a better deal for her to do STD with them instead of my company.

That's a terrible benefit plan.

[flere-imsaho]

Should have expected that....

[Cringer]

Sweet jebus, we pay for our insurance ourselves. That is the hardest payment to swallow with both of us being 'independent' and why I will never see a doctor without being forced.

[OldGiants]

Originally Posted by Mizzou B-ball fan

That is correct. My father in law is a general practice doctor. He tries to hide dual coverage as best as he can to avoid that issue, but the insurance companies always seem to find out. As a result, he has to wait weeks or even months to get payment on some procedures when dual coverage is involved. Some doctors make the patient pay and only reimburse the patient if they get someone to cover the procedure.

That is NOT correct. this subject is called 'coordination of benefits'. If people have coverage from two employers, the primary coverage is from your employer. That issue has been standard for over 25 years, at least.