What if your employer Drops spousal coverage?

What if your employer Drops spousal coverage? -

Although not required by law, many health plans sponsored by employers could offer spousal or dependent coverage as an additional benefit for workers. However, due to rising health insurance costs anticipated, several companies have announced that they give up the spousal coverage for employees. A survey conducted by global professional services company Towers Watson reports that "while the supplements for spousal coverage are more common, next year, 12% of employers plan to exclude spouses, up 4% this year."

The Parcel Service States (UPS), perhaps one of the most remarkable of these companies, plans to cut thousands of spouses of its health plan, citing the rising medical costs combined with costs associated with the affordable care Act (ACA) have made it more difficult to continue to provide the same level of health care benefits to employees at an affordable cost.

Without fret! If you or your spouse was launched Medicare plan of the employer, there are other options. Start by talking to your employer to find important information:

• When the employer next open enrollment period
• Are they fall from the spouse and dependent coverage
[1945007?] or there will be changes in the rate for spouse or dependent benefits?

If your employer is indeed declining spousal coverage or changes in interest rates, know when that coverage ends. The next option for you or your spouse is sign up for an individual health coverage when the individual open enrollment begins October 1st ^st , 2013. During open enrollment, individuals can shop and compare health plans many institutions in the new health exchanges or markets.

It is important to be prepared in case your employer decides to reduce coverage of the joint, such as ACA mandates that most people buy health insurance or pay a fine. This individual mandate takes effect in 2014.

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