Working Couples: Two Insurance Plans or One?

Posted in Group Health Insurance , Health Insurance

February 2nd, 2009

For working couples, is it better to have two insurance plans or one? Well, it really depends on the insurance plans, out-of-pocket costs and other policy options.

For example, if you both get a complimentary health insurance plan as part of your company benefits, you may decide that free health coverage for both is your best option. However, if one of you works for a larger company than the other, the costs for the individual may be better if the person working for the smaller company jumps onto the group plan of the spouse working for the larger corporation.

Monthly premiums arent the only factor to consider when deciding whether two insurance plans are better then one. Couples really need to sit down with the information from their insurance companies and see what the two plans offer side by side. Maybe the out of pocket costs are the same for both, but one may offer the option of freedom versus having to use only in-network providers. If one plan has substantially more benefits than the other, it may be advisable to switch from two insurance plans to one.

For the sake of convenience, if a couple is planning to have a child, it might just be easier to have one insurance plan. That way, all three of you will be covered under the same policy and it will be easier to track your health care and the expenses in total.

At the end of the day, working couples need to evaluate their personal situations to make a determination. You can also call up your health provider and discuss the options you are considering with them, as they have likely encountered your situation and can recommend the best course of action for your family.