Splitting Existing Ifp?

passivesf

Expert
27
Question, I have a husband and wife with World in TX. Husband has had a heart attack so obviously he can't go anywhere. However, I could save the healthy wife about $100 a month with a similar/better plan with a different carrier.

Is there any downside to splitting the healthy wife off of an existing ifp?

Don't do that much health...
 
One thing I always want to look at in situations like this is how the current plan handles deductible and OOP. If the plan is just spousal with no kids, I want to address whether or not the deductible is embedded (each has their own independent of the other to co-insurance or OOP) and whether the deductible and OOP are aggregate.

If the plan is aggregate, then the combined expenses (any combination of members) can meet the OOP for the other. If the husband has high utilization, he may be hitting OOP for both he and wife. If you put her on a separate plan, then she will incur her own required deductible and OOP no matter what his utilization is. In a bad year the premium savings could be lost to the non first-dollar benefits used.
 
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