Who should be on your group plan?

| January 23, 2017

If you’re on a group health care plan, you’re likely receiving top of the line health insurance. Group health insurance is usually the preferred plan offered by employers to their employees.

Health insurance companies provide group health care plans on behalf of your employer. These plans contain many policy participants, which often leads to rate adjustments.

Most group health plans allow you, as a policy participant, to add other individuals to the plan. Group health plans are a way to make sure that your loved ones have coverage.

But, just because you can add participants to your group health care plan, doesn’t mean you should. As you prepare to add participants give it some thought. Consider who should be on your plan, how your plan will cover their health care, and how prices will change.

Who should be on your plan?

Generally, the only people allowed on your group plan are spouses and dependent children. Grandchildren or more extended family usually don’t qualify for your group plan. Independent children usually have to get their own coverage by the age of 26.

If a family member doesn’t have health coverage, you should be able to add that person to your group plan. The law requires most people to have health insurance, so this can be a great way to make sure they have coverage.

How will your plan protect your family?

If both spouses work, then both may have access to group health plans. They might have the option to forego coverage of one plan and both be on the same group plan.

But, you should always consider alternative scenarios. Will this group plan offer enough coverage for your family’s health needs? If one spouse loses his or her job, could having the other plan as backup help protect you? If you need more coverage than your plan offers, it may be better to have a separate plan for another person.

How will insurance prices change?

You can usually add participants to your plan for nominal increases in your rates. The rates are usually deducted from a portion of your paycheck.

Other plans allow you to add participants without seeing your rates change at all. If you feel your family has no extra medical risks and can all be on the same plan, this might me a good option.

Do you have questions about Muncie group health insurance? Pfenninger, Claxton, & Estelle Insurance Group can help you learn more about adding individuals to your plan. Contact us at (317) 398-9797

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