My open enrollment period for health insurance is in May and my wife's is in December. We are both currently getting health insurance through our respective employers, but I would really like to drop my wife's insurance at the end of the year and then immediately add her under my employers insurance. There won't be any change in employment status - just (voluntary) loss of medical coverage.
Is this a qualified change in status under the IRS rules, which would allow me to add my wife (and dependent)?
My second question is if we drop my wife's insurance and she doesn't qualify to go my insurance, would my dependent who is currently on my wife's insurance be allowed to be added to my insurance.
Thanks!
Voluntary loss of group coverage is usually not considered as a special enrollment opportunity. You'll need to ask your plan if they'd accept them. They may impose a pre-existing conditions clause.
One way to do this would be to get them on a short term medical plan to hold them over until your open enrollment period. Visit a local agent that works with all of the major companies in your area to further explore this option.
I think the voluntary loss of coverage won't be a qualifying event.
Which renders the second question moot - you'll have to wait until open enrollment to add either or both of them to YOUR policy.
Only your plan can really tell you.
Your wife LOSING her job would be an obivous change in status.
You need to direct these questions to your employer's H.R. dept - the answers depend on the specific group health plan.