Quesion about terminating health care benefits
I am a permanent employee for a medium sized public company. I had enrolled in family health insurance benefits (Cigna). I contribute at least $350 every month towards the health care plan. Can I terminate my health care plan completely? The reason is my wife and kids are leaving USA and they will not be here at least middle of next year. I know I can ask this question to my hr or cigna, but I don’t want to ask them until my family leaves. Any idea?
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this does not sound like an event where you can drop coverage mid term. since you did not get into specifics as to why they were leaving (and you should not post that here), you should really ask your hr department.
Normally, if the family is going to become ineligible by leaving the plan area, you can terminate their coverage at the end of a given month, provided you have enough lead time. For instance, to quit July 1st, you’d have to tell most companies by June 25.
Source(s): Setting up billing systems for insurance companies, but not Cigna
You can only terminate your health insurance coverage during open enrollment, or if you quit. The same applies to dropping coverage for wife and kids – you can only drop them during open enrollment. Then, you can only add them back, the following year, during the NEXT open enrollment.
You’re going to need to ask them if you want the answer.
Seems to me you ought to be able to change your policy anytime you wish. But…Why not switch it to self only coverage so you remain insured?
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