Health Insurance for Newlyweds: Combining Coverage

Congratulations on your marriage! Among the many things to sort out as newlyweds, health insurance is one of the most important. Getting married is a qualifying life event that triggers a Special Enrollment Period (SEP), giving you 60 days from your marriage date to make changes to your health insurance coverage without waiting for open enrollment.

Your Options as Newlyweds

After getting married, you typically have several paths to consider for your health coverage:

• Add your spouse to your employer plan. If one of you has employer-sponsored insurance, you can add the other as a dependent. Compare the cost of adding a spouse versus keeping separate plans, as adding a dependent can sometimes significantly increase premiums.
• Join your spouse's employer plan. If your spouse's employer offers better or more affordable coverage, you may want to drop your current plan and join theirs. Review the network, benefits, and total costs carefully before switching.
• Each keep your own plan. In some cases, it's more cost-effective for each spouse to maintain their own separate coverage, especially if both employers offer strong plans with good subsidies.
• Shop the ACA Marketplace together. If neither of you has employer-sponsored coverage, or if employer plans are unaffordable, you can shop for a plan together on the ACA Marketplace. Your combined household income will determine your eligibility for premium tax credits and cost-sharing reductions.

Factors to Consider When Comparing Plans

When deciding how to combine coverage, look beyond just the monthly premium. Consider the total cost of care, including deductibles, copays, coinsurance, and out-of-pocket maximums. Think about whether your preferred doctors are in-network on each plan, and whether you plan to start a family soon, as maternity and newborn care coverage can vary significantly between plans. Also review prescription drug coverage if either of you takes ongoing medications.

Don't forget to update your tax filing status and household income estimates if you're receiving ACA subsidies, as your combined income may affect your eligibility. You should also review beneficiary designations on any existing life insurance or retirement accounts.

Making the right health insurance decision as a couple can save you thousands of dollars annually. Our team specializes in helping newlyweds navigate their options and find the most cost-effective coverage. Contact Resilience Health Advisors within your 60-day Special Enrollment Period to get personalized recommendations.