Family Matters
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Insurance Question

Not sure if this is a good place to post this but I'm just looking for opinions.  FH and I are getting married in April.  We don't live together so right now we each have our own insurance for everything (cars, health, dental, etc).  We are trying to decide if we should go on the same insurance or not.  Problem is, I am with one big hospital group (have been all my life) and he is with the other (has been all his life).  Anybody have different insurances than H?  Thanks for the help!

Re: Insurance Question

  • Why not just compare coverage/rates and go with whichever is best for you both?  It might be that it works better to be on separate plans (unlikely) or you may find that one of your plans has better coverage for both of you for less money. 

    For auto insurance, you'll pay a lot less to be on one plan, but you should definitely shop around.

    In case you're wondering where everyone went: http://pandce.proboards.com/index.cgi
  • Check with your hman resources, you'll probablt each need to keep individual health insurances via your employers. No real change there other than assigning each other beneficiaries of any life insurance policies.

    For auto and homeowners/rental you should touch base with both carriers to see which gives the best value when all policies are rolled to a single agent/company.

  • Both of you should check with your respective HR departments to see what the employee contribution for spouse coverage would be.  Also, if one of your employers has a health care spending account, see how you can maximize the benefits.  Also, ask what would happen if you needed to go back on your insurance should something happen to DH's job (or visa versa). Could you add your spouse in the middle of the year?  

    If both of you have completely free coverage with your employers, it makes no sense to move on to one plan if that means you will have to pay.

    Sit down with the number and your coverages and see what makes the most sense from all angles.  At the same time, draft up a will and end of life directive.  You will want to make sure that you both know exactly where you stand on all of these issues should the unthinkable happen. 

  • DH and I got married in May and still have our own medical/dental insurances.  If you are not living together and aren't married yet, most carriers wouldn't allow you to go on each others plans.  Once you get married, it is a qualifying even for one of you to go on the others plans but check and see if it is worth it cost wise first.  Adding dependents onto single plans tends to be more pricey than having two single plans.  If, during the year, one of you loses your jobs and insurance, it is a qualifying event for the one who loses insurance to go on the others.  I work for an insurance broker for health plans so if you have any other questions, pm me.

    As far as the car insurance, we did add me to his plan in April I think (one of ours was expiring I think) and that was an easy move and we did get a cheaper rate I'm pretty sure.

    Baby Birthday Ticker Ticker
  • My husband and I got married in August and kept our own insurances.  I am a teacher and to add him to my plan it costs about 3x's more than what he pays to be on his own.

    At first glance I thought we would both go on his plan.  It wasn't too much more to go onto his plan (than what I was already paying for mine) and he has slightly better coverage than I do.  Well as we read further into his plan we found out that since I qualify to have insurance through my job there was a monthly "penalty" payment to add me to his program.  We decided the slightly  better coverage was not worth the initial difference plus the penalty.

    I think once we have children we will switch it so that everyone is on the same plan, but for now being on two separate programs is not an issue and it saves us some money.

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