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Healthcare Issues. It this legal? |
My employer offers a group policy for healthcare at almost $400 a month, but told me I had to sign up for a year, and couldn't opt out of it for the whole year. Is this legal, or do I have the right to refuse/cancel my benefits after any period of time? Thanks. Yes, it is legal. That is why most companies have open enrollment a few months before the policy period begins (September/October for the following January). Although the premium does sound high, it depends on the employer. If the employer has a lot of older workers, the rate isn't that bad (mine is almost $400 and that's just for one person!) because it is a combined rate (that is, it's not a different rate for a younger person than for an older person). Just remember, that in a group policy, the insurance company has to take everyone who is employed by the employer so if you have any pre-existing conditions, it's better to go with a group policy rather than an individual policy which can be cancelled at any time for any reason (other than the normal reason of non-payment of premiums) Source(s): work experience thye are correct. You can only make changes during open enrollment. Your employer is correct but don't be mad at them, open enrollment is a period that is mostly controlled by the insurance company. Your premium sounds high, is this for you and your family or just you. If your covering just yourself you would be better off looking at what your state offers, if it's for your family (spouse and child) that's about right. experiance Health benefit plans are written to suit the insurer and the company offering the plans. It is legal for the contract to specify that enrollment is for a minimum period of one year It is legal and customary in the US. Keep in mind, however, that frequently you are able to change your benefits for a change in situation such as marriage, divorce, birth of a child, etc. in most situations. This sounds like a high amount -- however it may be that your employer is not assisting whatsoever. Most companies do pay a portion of the insurance instead of just passing it on to everyone at the company. Usually when medical amounts are so high, it is either because the deductible is low, or because someone (or several people) in the "group" has used a lot of medical benefits. |
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