Can I get out of my work health insurance plan? Consumer Q&A
Did you ever have something you desperately wanted to get rid of but couldn’t find a way to do it? -It might even be a good thing, but maybe you’ve reached a point where paying for it just doesn’t make sense anymore. In fact, it could be hurting you financially.
If you bought a house between 2004 and 2008, maybe you can relate. But in rare cases this situation can arise with regards to health insurance too, particularly employer-sponsored health insurance.
Recently on Yahoo Answers we took a question from a young woman in dire straits. She’s employed, but doesn’t earn enough to make ends meet. One of the things hurting her most is the money taken from her paycheck for her employer-based health insurance. If she could just get out of her health insurance plan (she could maybe buy individual coverage on her own), she might make it. Otherwise, she says, she may end up homeless.
The trouble is, her employer says they can’t drop her coverage mid-year. Is that right? Can’t you get out of an employer-based health insurance contract mid-year?
The eHealthInsurance reply was voted Best Answer:
You don’t actually have a ‘contract’ for health insurance, your employer does, but they’re right. They may not be able to drop your coverage before the annual enrollment period. The only cases in which it is allowed is when 1) you leave your job for one reason or another, or 2) when you switch from full-time to part-time work. Since neither of these apply in your case, I’m afraid you’re stuck with health insurance. It’s a strange thing to say: ‘stuck with health insurance,’ but it really sounds like you’re in a tough spot.
Image from Flickr user DorkyMum