The National Association of Insurance Commissioners is a non-profit, standard setting body who’s members regulate the insurance industry. They don’t sell or recommend any particular insurance, so that is not what this sponsored post is about. What they do provide is free and unbiased resources through InsureUOnline.org to help consumers get smart about their insurance options so they can make the best possible decisions with their family. This has never been more relevant for same sex couples.
My mom stressed, throughout my life, the importance of having health insurance. This was never an issue as I was always insured, first through my university, and then through my various jobs. It also did not matter when I met my spouse (then my boyfriend) 24 years ago. It only became an issue for us when I lost my job 11 years ago.
We had a domestic partnership in place, but at the time I was laid off from my job, my domestic partner’s employer did not offer benefits to same sex partners. My COBRA cost back then was more than I wanted to pay, but since I was raised with the priority of having health insurance, I paid for the insurance out of pocket. Ironically enough, my partner’s company was going to offer benefits to same sex partners the first of the next year! What great news! The irony is, my spouse left that job and his new job already had domestic partner benefits in place. Truth be told, I got away with only paying for two months out of pocket, but this was the first time we had to have a conversation as to how I would be covered. And as it turns out, many couples do not have these conversations, and they should:
After the Supreme Court’s ruling on same-sex marriage, the number of married same-sex couples increased from 38% to 49%. However, new research from NAIC suggests many couples may be sidestepping some important insurance questions on the way to the altar. Of course, overlooking some of these questions before tying the knot could be costly.
An online survey, commissioned by NAIC, asked recently or soon-to-be married LGBTQ individuals to share their views about financial factors they consider important to address before marriage:
-Eighty two percent said they discussed or planned to discuss health insurance before walking down the aisle. Life insurance and taxes tied for the second most likely pre-marriage financial topics at 70 percent.
-Women in same-sex relationships are significantly more likely than men to discuss life insurance pre-marriage (74 vs. 61 percent).
-By contrast, less than one-quarter of respondents inquired or planned to inquire about their partner’s driving record before saying “I do.”
-When asked to prioritize, nearly one-third identified health insurance as the “single greatest financial consideration” when getting married.
-Twenty-five percent view the impact of commingling assets as their single greatest pre-marriage financial consideration.
-Married respondents who earn between $50,000 and $75,000 per year are more likely to cite taxes as the single greatest financial consideration before marriage (34 percent) than married respondents who make less than $25,000 (16 percent) or those making more than $75,000 (18 percent).
-The NAIC encourages LGBTQ individuals in a committed relationship, newly married same-sex couples and domestic partners to educate themselves about the impact of the Supreme Court’s marriage equality ruling on all insurance types: health, life, auto and home.
We never had any insurance conversations until I lost my job. We were always insured individually and never thought further on the subject. We had a child, and his insurance was through my partner since they had the same last name. Yes, the decision was made for that simple reason. This is still new and evolving territory for all of us in the gay community, and for domestic partners who are not of the same sex as well. We have other insurances together, but regarding apartment insurance and car insurance, it is about the home and the car, and having both names on the paperwork was not a big deal.
Here is a picture of my family after the signing of our marriage certificate by the Rabbi. This was four years ago when same sex marriage was only legal in some states and not on the national level. This is why we always paid close attention to what benefits we were allowed to have. It also affected the taxes we paid for my health insurance.
I was there. I was there when same sex partners did not get coverage, and then I was there when they did get coverage. And then we got married and the coverage became pre-tax, but not until our marriage was recognized nationally. There are so many financial considerations involved in this conversation! For me the bottom line was and will always be, we must have health insurance, whether we are domestic partners or married. It should be a priority for everyone, I encourage you to discuss this with your boyfriend, your girlfriend, your domestic partner to be, your spouse, your husband or wife. Once you are a couple, you are responsible for each other, and the risk of not having health insurance when ambulance, hospital, and doctor cots are getting astronomical, is too risky! That is why I am sharing this article and the links below. Become informed, so you don’t have to worry about an uninsured situation that might result in a catastrophic cost. That fear keeps me paying COBRA, no matter how high it gets.
Related Resources on Insure U:
1. InsureUOnline.org
2. Take Action Now Checklist
3. 5 Tough Questions
4. For any specific insurance questions, please go to InsureUOnline.org or your State Insurance Commissioner.
Here we are today:
The happy family enjoying a day out at a football game. My spouse has been providing our health insurance since I lost my job 11 years ago. Well, he lost his job two months ago. We just elected to continue health insurance coverage through COBRA. Life is full of uncertainties, and with a teenage son, who has two dads over 50, it is too risky to be without health insurance, so our health insurance will be paid this week!
Disclosure: This is a sponsored post. All opinions are 100% honest and my own.
glad it finally got settled,,everyone needs a health plan
Great article! I totally agree-COBRA costs are super high, but a health plan is a must since you never know what can happen! I will share these links, everyone should be aware, we all need to look out for each other and be informed!
What important info! Especially with the upcoming (and completely disheartening) change in administration. Everyone should have access to care!
Seriously great read! Health insurance can be such a scary thing to talk about in general (I cringe at the thought), but its good to know about the COBRA option – even if it is pricey. Health insurance is one of those things that is totally non-negotiable so I agree, no matter the price it’s worth it!
So glad you are covered!
Glad you got coverage. Insurance was one of the reasons we got married so quickly. Leaving college in 2005 meant not having health insurance under parents at the time, I was 20. My fiancé was in the military, quick JOP ceremony meant legally married and insurance. So we did that and had our family church wedding 10 months later. Even at that age, insurance was on our minds.. I agree, it is very important to discuss.
You can’t be over 50! Looking good!
So glad to hear that more companies are supporting same-sex marriages with much needed health insurance.
I have always been covered with insurance either by my mom or on my own through work. The main reason I don’t leave my current job is because I carry the insurance for all of us. My husband never had insurance until we got married which I can’t imagine how he survived. Being so fortunate I feel for those that don’t have access. It’s a right that all should have that is affordable.
What an important topic that I honestly don’t think about enough. Health insurance is a must for all! So happy for resources like InsureU that are there to help guide the way.
My mother has always stressed the importance of health insurance. I’m insured through my husband now. As a freelancer, I feel calmer knowing I’m covered through him. Glad InsureU has resources for people to check out. And I’m happy your family is covered through COBRA.
The struggle to get and have health insurance is something many have to deal with, so unfair and something nobody should have to worry about. I sure hope things change soon.
This is great information. Now that same sex marriage is legal everywhere, same sex couples can start having fun with couple stuff like insurance. LOL Seriously, though. Great info.
I am SO glad that this is something that gay couples can now think about. There was a time when they had little to no rights that we straight couples had. <3
I cannot believe how much your son has grown! Insurance is so important to have. I worked for years as a biller and truly hope one day we have a system that guarantees everyone coverage.
I think a lot of unmarried couples forget to have these conversations. When you’re young and relatively healthy, you just don’t think of those things.
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It’s great to see more awareness about the importance of insurance for same-sex couples. Having proper coverage ensures that everyone has equal access to financial protection, no matter their relationship status.
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