Author Topic: New Baby and Switching Health Insurance Plans  (Read 892 times)

elmo1022

  • 5 O'Clock Shadow
  • *
  • Posts: 1
New Baby and Switching Health Insurance Plans
« on: April 23, 2018, 08:41:08 AM »
Hey everybody - health insurance question here. My wife and I are expecting a baby in August of this year and are currently enrolled in a more standard health plan (higher premium for lower deductible) through my employer.

Does anybody know if the birth of a child would count as a "qualifying event"? Specifically one that would allow us change insurance plans to a high deductible plan and further allow us to contribute to a health savings account? I am getting conflicting answers from my corporate HR. One HR representative says that I should be able to switch to a High Deductible Plan for a family because having a baby counts as a qualifying event. Another HR representative says I am merely allowed to add the child on as a dependent to my existing plan and my coverage would change from 'Employee + Spouse' to 'Family'.

Is there something in the ACA that would clarify this discrepancy? Or does this fall under specific plan permissible actions. I'm thinking it would save us a boatload of money to be able to switch to an HSA plan after the delivery if everything goes well with the delivery/baby health.

I'm a red panda

  • Walrus Stache
  • *******
  • Posts: 8193
  • Location: United States
Re: New Baby and Switching Health Insurance Plans
« Reply #1 on: April 23, 2018, 09:15:17 AM »
Having a baby is a qualifying event.

https://www.healthcare.gov/glossary/qualifying-life-event/


HDHP was the wrong choice for us.
Baby was on my PPO for the first 9 months of her life, and super healthy; had one copay, but just well baby visits.
We switched her to HDHP at open enrollement (her Dad's plan)- we've now had $2,000 worth of charges for recurrent ear infections in 4 months.  $3,000 to go to meet that deductible...
« Last Edit: April 23, 2018, 09:17:49 AM by iowajes »

starbuck

  • Bristles
  • ***
  • Posts: 392
  • Age: 36
  • Location: Small Town Connecticut
Re: New Baby and Switching Health Insurance Plans
« Reply #2 on: April 23, 2018, 10:00:16 AM »
Another HR representative says I am merely allowed to add the child on as a dependent to my existing plan and my coverage would change from 'Employee + Spouse' to 'Family'.

This was the case for us when we had our first child (federal gov't employee.) It's a qualifying life event, but what you're allowed to do is related to the kind of event it is - you're allowed to switch to family coverage because of your +1, but not insurers. You'll be able to change insurance plans during open enrollment.

HDHP would have been the wrong move for us too. I think we'll be waiting til we're done having kids and they all get out of the very young child age and into school.

Congrats! I'm also due in August with #2.

Steeze

  • Pencil Stache
  • ****
  • Posts: 700
  • Age: 33
  • Location: NYC Area of Earth
Re: New Baby and Switching Health Insurance Plans
« Reply #3 on: April 23, 2018, 10:39:56 AM »
My plan allows me to add a dependent to the current plan only for the qualified event.

I can only change plans during open enrollment.

seattlecyclone

  • Walrus Stache
  • *******
  • Posts: 5463
  • Age: 36
  • Location: Seattle, WA
    • My blog
Re: New Baby and Switching Health Insurance Plans
« Reply #4 on: April 23, 2018, 11:49:24 AM »
Be aware that even if you are allowed to switch plans effective on the delivery date, it's likely that any deductibles will reset at that time.