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retiree health insurance
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retiree health insurance
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Involved with an early retirement incentive program. Offering health insurance to retirees and the option to include their spouse if they pay the difference between individual and husband/wife coverag
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retiree health insurance

posted at 12/7/2010 11:28 AM EST
Posts: 6
First: 9/19/2010
Last: 12/7/2010
Involved with an early retirement incentive program. Offering health insurance to retirees and the option to include their spouse if they pay the difference between individual and husband/wife coverage. Because of differences in spouse's age and working status, there may be a case where a spouse doesn't want coverage initially (still working) but would like the option to elect it later (when they stop working). Have some concerns about adverse selection. Would like to know if what is common practice in these situations. Would most employers only allow enrollment at retirement or is adding the spouse later a common practice?
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retiree health insurance

posted at 12/8/2010 11:23 AM EST
Posts: 2442
First: 2/12/2000
Last: 9/14/2011
You will absolutely have adverse selection if your let the spouse decide when to enroll.

We allow for a one time decision on retiree medical at the time of eligibility with no later reentry if declined.
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retiree health insurance

posted at 12/9/2010 5:53 AM EST
Posts: 1047
First: 4/11/2002
Last: 9/14/2011
If you allow spouses to enroll only after a qualifying event, that would limit the potential for adverse selection.

How many retirees/spouses are you initially looking at? What about ongoing? I would probably go with the one time election option since this will limit your liability.
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