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I have been wondering... have any of you ever signed-up for insurance only when you were in need of a check-up/screening/consultation and then cancelled the insurance plan right after? I am wondering if there would be any negative consequences to this and if this would be a smart way to use insurance while you are a healthy 20-50 year-old.
Be careful, many times you cannot get medical insurance if you have cancelled a self-insured plan in the last 6-12 months. They share info through systems (MIB.com for instance) just like the credit bureaus do and especially if it is within the same state you may have a real hard time finding someone even willing to take you.
Also beware starting Jan 2014 you will be required to have medical insurance or face government fines/penalties.
@compassion101 wrote:Be careful, many times you cannot get medical insurance if you have cancelled a self-insured plan in the last 6-12 months. They share info through systems (MIB.com for instance) just like the credit bureaus do and especially if it is within the same state you may have a real hard time finding someone even willing to take you.
Also beware starting Jan 2014 you will be required to have medical insurance or face government fines/penalties.
What if we are just talking about vision/dental insurance?
In my case I get all my personal health insurance (medical / dental / vision) through my employer and I can only sign up / cancel at one point in the year for the following year. Unless there is a "Qualifying event" such as marriage or divorce I am not allowed to just randomly drop my coverage. I was aware that the insurance companies keep databases of enrollment / drop / claims history and as mentioned above you can be refused coverage based on the info in the database. I don't know how the new health care regulations affect that in 2013. And I don't know if vision coverage plans maintain the same info. But for those of us under employer plans it's not an issue.
@SportBike4Life wrote:What if we are just talking about vision/dental insurance?
When I had an employer who asked employees to pay part of their vision insurance we only did vision every other year. I never cancelled it during the year, but I would cancel it every other year. We are a family who does fine with vision checks every other year.