by Guest » Tue Jan 20, 2009 11:23 am
My health insurance is through my employer but I'm seriously considering canceling health insurance since their rates are way to high. Can i cancel my health insurance anytime I need? or, there isn't anyway out of it? :(
Posted: Wed Jan 28, 2009 05:48 am Post Subject: canceling health insurance
A trend that I have been seeing recently is that although an employer is paying a decent portion of the employee's premium, they are starting to pay very little if any portion of the employees family members part. i used to only occasionally run into that with small employers but it seems to be spreading to larger ones now.
Posted: Sat Jan 31, 2009 03:39 am Post Subject: can i cancel my health insurance anytime?
Most of the time you cannot beat a group health plan. Make sure you are not cancelling group health insurance until you know for sure you can get approved for an individual plan.
Posted: Mon Feb 09, 2009 02:05 pm Post Subject: canceling health insurance
You want to prepare a health insurance cancellation letter so that you can send it to your insurance company when you want to cancel your policy. You may find that you need to use a different insurance because of price or other factors but that letter will give you protection
Posted: Tue Feb 10, 2009 10:19 am Post Subject: cancelling health insurance
Jeroge, the group health insurance may not always be the cheaper alternative, rather, since the insurer can't exclude anyone from the group plan the cost of coverage gets distributed amongst the participant of the plan. And, therefore, you may end up paying more premium than required for the not-so-healthy participant of the plan.
Further, if you are between jobs and choose to continue with the existing coverage, the cost of the entire plan would come to you which can double the premium rate on the policy.
Regards,
Juanita
Posted: Fri Feb 20, 2009 12:50 am Post Subject: can i cancel my health insurance anytime?
You can cancel from month to month just ask human resources or the owner for a health insurance cancellation letter for cancelling group health insurance.
Posted: Fri Feb 20, 2009 06:40 am Post Subject: canceling health insurance
I'm not sure that you can opt out of the group health policy whenever you want. You have to wait for the term to get over. Also, there is a tax issue of the employer associated with it.
Rupert
Posted: Fri Feb 20, 2009 12:16 pm Post Subject: cancelling group health insurance
I agree. If it is a group policy you will more than likely have to wait. Also remember that not having coverage and then getting hurt can really cost a lot of money. Hopefully you have another type of coverage that you are thinking of getting.
Posted: Wed Mar 04, 2009 11:35 pm Post Subject: Can you cancel group health insurance?
If the company you work for have more than 50 employees, and if you are locked in a group plan where you can only make changes to your policy once a year, you may be in trouble. So, since I was locked in a group plan, I can advise you to first call human resources and tell them that you can no longer afford it, and that you will be looking for another health insurance company and ask them "how do i cancel my health insurance?" Once you have another policy they will have to let you go. Health insurance brokers are all over the country, it is just like purchasing an auto, or home insurance. You must shop around in order to get the best deal. Make sure that you sign up with in an "independent plan" where you pay monthly as you go, that way you won't be trapped for a year. Also be careful with the deductible amounts, it could vary from $1000 to $5000 in a emergency situation. Be very careful when choosing the right plan because a lot of these health companies are out there to get your money...I was a victim of one of them. I was paying $150 a month, with a $1000 deductible for ER care, with co-payment of $30 for MD and $40 to spec., $30 for brand medicine and $15 for generic, and $150 co-payment on the top of the thousand for ER. But let me tell you what I found out. I called my doctor and was informed that he charged $60 for an appointment for people who didn't have insurance, lab $60, my medicine all available at Walmart under the $4 prescription. I had to go to the doctor once every 3 months, I was shocked! I could have been saving $$. You may not even need a health insurance at all...
Posted: Thu Mar 05, 2009 01:21 am Post Subject: cancelling health insurance
You may not need it as long as you do not plan on anything happening but who can plan on that? Recently I became sick and for two months straight have been going from doctor to doctor and test to test trying to get to the bottom of my problems. If I had not had medical these medical trips would have probably put me behind thousands of dollars. I have good medical and am very thankful for that. I know a lot of doctors offices has sliding scales for patients with varying incomes but if you had to go all the time I would imagine this would add up quickly. I believe the moral of the whole medical story is there are definitely a lot of pros and cons when talking about health insurance. What works for one does not work for another and the costs can sometimes leave people to have to chose putting food on their table first. I believe the health care system needs revised but until that happens we all just got to decide which avenues are the best ones for us personally.
Posted: Thu Mar 05, 2009 09:52 am Post Subject: cancelling health insurance
Hey CR, would you care to share your experience of searching for private health carrier with us? Was it easy? I've heard that private insurers put loads of conditions for issuing a plan. Further, the selection process is very stringent for private health insurance companies. There is also the pre-existing exclusion for the policy holder.
For the last fifteen years I’m covered with my employer and never looked beyond it. Hence, your experience would certainly enlighten me.
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