Health insurance, spousal income?

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exit_r
Posts: 40
Joined: Tue Dec 29, 2015 9:25 am

Health insurance, spousal income?

Post by exit_r » Thu Jan 11, 2018 9:24 pm

I am covered under my spouses medical insurance through their employer. Next plan year we have heard that the salary based premium scale will now also be based on my income. It would be the income of all covered parties. (We work for different companies)

Has anyone else dealt with this? What is a common way to report this income? How could this information be vetted?

Interested to learn from others and their experiences here.

exit_r
Posts: 40
Joined: Tue Dec 29, 2015 9:25 am

Re: Health insurance, spousal income?

Post by exit_r » Fri Jan 12, 2018 4:13 pm

Bump

I'd really like to hear any experience with this income reporting requirement.

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dm200
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Location: Washington DC area

Re: Health insurance, spousal income?

Post by dm200 » Fri Jan 12, 2018 4:16 pm

exit_r wrote:
Thu Jan 11, 2018 9:24 pm
I am covered under my spouses medical insurance through their employer. Next plan year we have heard that the salary based premium scale will now also be based on my income. It would be the income of all covered parties. (We work for different companies)
Has anyone else dealt with this? What is a common way to report this income? How could this information be vetted?
Interested to learn from others and their experiences here.
No experience. Seems to me it does not matter "what is common". I believe you and your spouse should just be honest and truthful in resonse to the specific requirements of the employer.

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HueyLD
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Re: Health insurance, spousal income?

Post by HueyLD » Fri Jan 12, 2018 4:33 pm

Interesting new approach to the ever rising health care cost.

I guess the OP has options. He can (1) drop out of his spouse's employer insurance to avoid having to provide them with his salary information, (2) continue to be on his spouse's insurance if he is unable to get his own insurance at a better rate even after the premium increase on spouse's plan.

Here is an article from Society for Human Resource Management which provides some insight into this new approach.

https://www.shrm.org/resourcesandtools/ ... miums.aspx

exit_r
Posts: 40
Joined: Tue Dec 29, 2015 9:25 am

Re: Health insurance, spousal income?

Post by exit_r » Fri Jan 12, 2018 5:52 pm

dm200 wrote:
Fri Jan 12, 2018 4:16 pm
exit_r wrote:
Thu Jan 11, 2018 9:24 pm
I am covered under my spouses medical insurance through their employer. Next plan year we have heard that the salary based premium scale will now also be based on my income. It would be the income of all covered parties. (We work for different companies)
Has anyone else dealt with this? What is a common way to report this income? How could this information be vetted?
Interested to learn from others and their experiences here.
No experience. Seems to me it does not matter "what is common". I believe you and your spouse should just be honest and truthful in resonse to the specific requirements of the employer.
How does one fairly report income? Pay statements, tax returns, w2, income/loss statement, etc. Seems this reporting requirement would introduce many areas for shady responses. I am looking at no less than a quadruple premium increase, this requires planning. Unfortunately my spouse took a lower paying position because of the great benefits, benefits that seem to vanish with one policy change.

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munemaker
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Joined: Sat Jan 18, 2014 6:14 pm

Re: Health insurance, spousal income?

Post by munemaker » Fri Jan 12, 2018 6:21 pm

A friend of mine worked for a company where the cost of health insurance was based on income. He was single though, so I don't know how that would work if you were married. I don't know if his employer would have considered the spouse's income.

Charging people different prices based on income seems like something that you might expect from the government, but it seems to be catching on in the private sector.

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munemaker
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Re: Health insurance, spousal income?

Post by munemaker » Fri Jan 12, 2018 6:22 pm

exit_r wrote:
Fri Jan 12, 2018 5:52 pm

How does one fairly report income?
Presumably they provide some instructions. Lacking any instructions, I would use my imagination in my favor.

pshonore
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Re: Health insurance, spousal income?

Post by pshonore » Fri Jan 12, 2018 6:42 pm

HueyLD wrote:
Fri Jan 12, 2018 4:33 pm
Interesting new approach to the ever rising health care cost.

I guess the OP has options. He can (1) drop out of his spouse's employer insurance to avoid having to provide them with his salary information, (2) continue to be on his spouse's insurance if he is unable to get his own insurance at a better rate even after the premium increase on spouse's plan.

Here is an article from Society for Human Resource Management which provides some insight into this new approach.

https://www.shrm.org/resourcesandtools/ ... miums.aspx
That article sounds like they only consider the employee salary and don't include the spouse. That was not uncommon even 20 years ago.

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