Sharing Insurance once You're Married

How much would you really save per month by combining? For us, the savings wasn't much.

The transition was pretty easy. He's on Tricare, so I just had to enroll. My prescriptions are way cheaper now.

It will never be cheaper (at least not in the foreseeable future) for FH and I to be on the same policy. We'd pay a penalty to be on the other's insurance since we each have insurance available to us.

Before we were married i paid 95 per month and he paid 75 per month for auto insurance.... I called a few days ago to get us on same policy and our new combined payment is 89 dollars! We saved 80 bucks a month! I WISH i would have eloped!

Mine is free... I will not be combining lol

Oh health insurance? LMAO um no it would cost us more to combine policies. I pay 50 per paycheck... and so does he.... but if i were to add him to my policy we'd bay 150 per paycheck. Yeaaa no we'll stay separate.

First of all, thank you for spelling "you're" right!

We just finished looking over both of our plans and we will combine it within 30 days of the marriage (and before my parents kick me off theirs lol)

On health insurance, no it cost more to add a spouse. However we are saving combining our car insurance policies. We were able to do the car insurance without being married with the company we use.

Do you live together? You can add each other now as a domestic partner. Once married, you can change it.

First, I know each policy is different, but I doubt you need to wait for open enrollment if there is a change due to a major life event (marriage, birth, etc.). Most insurance carriers will allow you to make those changes within a certain time frame of the event.

Second, it really depends on what your individual policies are. Some have penalties for the spouse not taking their empoyer's insurance, some require the spouse to get insurance through their employer anyway, some may require you to pay the full cost so the employer pays nothing out of pocket, etc. I would suggest you both talk to you employers and discuss the situation and find out what the costs would be if he switched to yours or if you switched to his. If there are different levels of plans (baseic vs. full), make sure you get info for each option. Also, get a good idea of the costs for eloping. Then, sit down and compare all the options and see what is best for you.

It was way cheaper for h to have insurance from work, and for me and our son to have a seperate policy.

It really depends on the insurance if it will be cheaper.

@VNGB - ditto individual policies. I have no penalities on my health insurance, but FH does for ONE of his plans (so of course we didn't go with that plan) and his still ended up being cheaper for the same coverage.

We can change insurance within 30 days of a life event

Thanks for the info. FH had to get health and dental insurance independent of his employer since he doesn't qualify for full time benefits at this time. That's part of the reason I wanted to get him on with me. Sounds like that may not be the most cost effective way to go.

As far as car insurance goes, he's gonna kill me for saying, but his dad still pays his car insurance l Not that I have an issue with this, but the insurance company may not take too kindly to me driving his car while not on his policy. Thinking pops is gonna have to cut the cord on this one.

@PurpleSun-You're Welcome, Lol

He's already on my health insurance through work. It costs me an extra $160/month but that's health, dental, vision, and life. They were alright with it at my job and he isn't offered benefits through his job at this moment. If he gets this new job he'll have benefits but we'll probably stay on mine because I have really good coverage.

We just got joint auto as well. Much cheaper once we combined because our insurance guy gave us the married discount already.

@Stephanie, since he is currently not offered insurance through his work you would not necessarily have a penalty fee. Currently I work PRN and am not offered benefits through my work and my FH is also not offered benefits so we both pay individual...yuck (and coverage is mostly catastrophic). Hopefully by the time we get married in October one of us will be in a position that offers us benefits...

Right now since I am on an individual plan I was able to opt out of maternity coverage. Just thought of it and to add it now it won't become effective til one year from now. and you have to have it for a year BEFORE you become pregnant. I would like to start trying sooner than that. With the new healthcare reform all plans will have maternity coverage in them effective January 1st 2014, thats closer at least....

If I am able to turn to part time or full time ( I work full time hours currently), I can get on my employers benefits, if not... no baby making on the honeymoon...lol

I would talk to your company's HR rep, and they can help you figure out what your new premium would be to cover him. My guess is that if he's paying for his own insurance, you guys will save a lot of money by putting him on yours. But as was mentioned, you shouldn't have to wait until open eNrollment to add him.

On your auto insurance you could save a ton. When you get married you are no longer more apt to go out and party according to the insurance companies. We all know that's a load of crap but they see you as being more responsible so the married discount is way better. Also, if you both live in the same house and both drive each others cars you would need to be on each others polices. Trust me, I hate having to do that at work when someone calls and tells me this. Just put your vehicles on one polices and save that money. Also, don't forget about multi line discounts weather it be a renters, homeowners, annuity, life, health or any other polices. Usually the more lines of business you have the bigger your discounts are.