Your spouse's employer's health insurance plan is equivalent or better than yours

[her209]

If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

 

[Fern]

I've never heard or seen of that being done.

Employers are free to do it if they wish, but they don't AFAIK.

Fern

 

[Phokus]

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

Not at my company unfortunately.

A guy i know who works for the state gets back like 5 or 6 thousand back if he doesn't opt for healthcare (he's on his wife's plan)

 

[Engineer]

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

Mine does not. My wife's does (flexible spending account). However, if my wife doesn't take hers and is on mine, my cost goes up by $100 per month because she was eligible and didn't take hers. No way to win either way.

Wife works for school system.

Hell, my company won't even throw in any money to a HSA if I choose that option AND still charges a premium for the catastrophic insurance.

 

[Hayabusa Rider]

No, you just don't have to pay for health care through them.

 

[Oceandevi]

I have the option. 750 bucks or so. Its a horrible deal. And the only employees who considered it are the type who rent furniture from aarons.

 

[duragezic]

The company I work gives you an opt-out credit. I forgot the amount but it's far less than what the company pays for the average employee's insurance plan. Something like $15/wk I think. Not worth it at all IMO for even the young and healthy employee. But choices are good.

 

[Fern]

Judging by the replies after mine, looks like employers don't wanna give you the money if you opt out, but will try to incentivize you to opt out so they can save money.

Fern

 

[spidey07]

Originally posted by: Fern
Judging by the replies after mine, looks like employers don't wanna give you the money if you opt out, but will try to incentivize you to opt out so they can save money.

Fern

It depends on the company. Some will give you extra pay if you opt out of coverage.

 

[Patranus]

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

It depends on your employers.

 

[Vic]

Originally posted by: spidey07

Originally posted by: Fern
Judging by the replies after mine, looks like employers don't wanna give you the money if you opt out, but will try to incentivize you to opt out so they can save money.

Fern

It depends on the company. Some will give you extra pay if you opt out of coverage.

But it will never be equal in compensation to what you would have received if you had opted in, and it will never be pre-tax either.

 

[Vic]

Originally posted by: Patranus

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

It depends on your employers.

Do you let your employer pick your car insurance too?

 

[Oceandevi]

Originally posted by: Vic

Originally posted by: Patranus

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

It depends on your employers.

Do you let your employer pick your car insurance too?

Sure if they paid for it.

 

[Vic]

Originally posted by: Oceandevi

Originally posted by: Vic

Originally posted by: Patranus

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

It depends on your employers.

Do you let your employer pick your car insurance too?

Sure if they paid for it.

They wouldn't pay for it, you would. Just like with your health insurance benefits now, it would come out of your overall compensation.

No free lunch.

 

[her209]

Originally posted by: Vic

Originally posted by: Oceandevi
Sure if they paid for it.

They wouldn't pay for it, you would. Just like with your health insurance benefits now, it would come out of your overall compensation.

No free lunch.

They probably get a tax deduction for it also?

 

[spidey07]

Originally posted by: Vic


They wouldn't pay for it, you would. Just like with your health insurance benefits now, it would come out of your overall compensation.

No free lunch.

True, but I get great fringe benefits of which group auto insurance is one of them. And it's extremely competitive. Same with STD, LTD, etc.

 

[Patranus]

Originally posted by: Vic

Originally posted by: Patranus

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

It depends on your employers.

Do you let your employer pick your car insurance too?

No but I also provide my own health insurance so I am not really sure what point you are getting at.

 

[Engineer]

Originally posted by: Fern
Judging by the replies after mine, looks like employers don't wanna give you the money if you opt out, but will try to incentivize you to opt out so they can save money.

Fern

Like I said, my company penalizes me if my wife does opt out of her insurance, to the tune of $100 per month extra. We still come out ahead as she gets $2,100 per year in the form of a flexible spending account. It's a use it or lose it though...so if we don't spend the $2,100, the remainder goes back to the state.

 

[BoomerD]

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

That's not NORMAL, but it can be done.

For many years, my insurance through my union was far superior to what my wife's employers offered, so she'd negotiate a "payment in lieu of insurance" with them.

Most LARGE companies won't do it, and it CAN raise red flags with the insurance company you do have...and may get some payments denied since she COULD have had insurance.

 

[spidey07]

Originally posted by: BoomerD

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

That's not NORMAL, but it can be done.

For many years, my insurance through my union was far superior to what my wife's employers offered, so she'd negotiate a "payment in lieu of insurance" with them.

Most LARGE companies won't do it, and it CAN raise red flags with the insurance company you do have...and may get some payments denied since she COULD have had insurance.

What the hell are you talking about? Couples make decisions all the time on to cover their spouse or not. There are no downsides to this decision other than premium/coverage costs.

She DOES have insurance. She is on your plan and you paid extra to make it so. That's why life changing events are about the only way to change your yearly benefits choice, getting married/divorced/having a kid are the big ones.

 

[CPA]

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

My company has an "Opt-out" feature that you can select if you can prove that you have insurance from a spouse or elsewhere. It pays $1500 annually and is taxable. I took if for 10 years until my wife went part-time this year.

 

[CPA]

Originally posted by: spidey07

Originally posted by: Fern
Judging by the replies after mine, looks like employers don't wanna give you the money if you opt out, but will try to incentivize you to opt out so they can save money.

Fern

It depends on the company. Some will give you extra pay if you opt out of coverage.

Generally, only companies that are "self-insured" (pay claims rather than premiums to plan administrators) have opt outs. It's a cost savings component for the company.

 

[DrPizza]

The company I used to work for offered that as an option - if you opted out (which you could only do if you were covered by someone else's policy), you received a buy-out. It paled in comparison to how much the company actually spent on policies, but was a pretty nice chunk of change nonetheless. I'm actually surprised that more companies don't do this - it seems like it'd be an awesome way to save money (at some other company's expense.)

 

[JD50]

Originally posted by: BoomerD

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

That's not NORMAL, but it can be done.

For many years, my insurance through my union was far superior to what my wife's employers offered, so she'd negotiate a "payment in lieu of insurance" with them.

Most LARGE companies won't do it, and it CAN raise red flags with the insurance company you do have...and may get some payments denied since she COULD have had insurance.

Do you have any links to back that up? It doesn't even make sense. That's like an insurance company denying my claim because I COULD have gone with any other private insurer out there.

As for the OP, my company gives out an extra month of leave if you don't go with their health care plan. I see the point that you're trying to make and I disagree with it. You could ask the same question for any of the other benefits that companies offer. Does your company pay you $5200 a year if they offer tuition reimbursement and you don't use it?

 

[Engineer]

Originally posted by: JD50

Originally posted by: BoomerD

Originally posted by: her209
If you decline health insurance coverage from your company, does that mean that you get the money that your employer would have paid on top of your salary?

That's not NORMAL, but it can be done.

For many years, my insurance through my union was far superior to what my wife's employers offered, so she'd negotiate a "payment in lieu of insurance" with them.

Most LARGE companies won't do it, and it CAN raise red flags with the insurance company you do have...and may get some payments denied since she COULD have had insurance.

Do you have any links to back that up? It doesn't even make sense. That's like an insurance company denying my claim because I COULD have gone with any other private insurer out there.

As for the OP, my company gives out an extra month of leave if you don't go with their health care plan. I see the point that you're trying to make and I disagree with it. You could ask the same question for any of the other benefits that companies offer. Does your company pay you $5200 a year if they offer tuition reimbursement and you don't use it?

I've had my insurance company (as have co-workers) deny coverage for my wife or my children until I prove that they did not have other forms of insurance. It happened often with spouses and occasionally, my children (usually after the new year rolled around, but it could happen at any time). Didn't matter if she was employed or not.

Was told it was a random check to make sure that people were not doubling up on insurance. Was un-necessary paperwork that costs money, IMO.
Do you have any links to back that up? It doesn't even make sense. That's like an insurance company denying my claim because I COULD have gone with any other private insurer out there.