Posted: Thu Apr 20, 2006 5:16 am Post subject: Birthday Insurance
I have heard of something called a Birthday rule to be applied on the health insurances that cover me, my wife and our kids. I would like to know more about that. Could anyone of you help me out ?
regards,
Andy _________________ Register Now to have your Insurance queries solved.
Hey ! Its good to hear that you and your wife have included your children within your respective health insurance plans. You must be aware that either yours or your wife's health insurance policy would be considered as a primary one as per the Birthday plan.
Under these circumstances, if your Birthday appears first in the calendar year it would be considered as primary. But one interesting aspect that you could note over here is that, that the year of birth is not at all important, hence only the date of birth is the determining factor !
I feel its quite natural for the dual-income couples to include their children on their respective health insurance plans. But in doing so, the companies insuring these couples would need some sort of a system to help them coordinate benefits, lest they pay out more than 100 percent of the cost of the claim while reimbursing. Thats why these insurers consider one of the parent's health insurance plan as the Primary one and the other as the secondary one.
Once this happens, the primary plan becomes responsible for paying the covered expenses up to the policy limits. If that limit is reached and some costs are yet unpaid then only the secondary policy would come into play.
Hi ! I'm truly glad to know that such rules exist in today's world...to let people maximize their benefits.
But what about the conditions to such a rule ! Could anyone give me a hint?
Posted: Fri Apr 21, 2006 4:57 am Post subject: One with the longest coverage
Guys, whenever we talk of rules, the true picture comes out. So lets not forget that some rules do exist to support every benefit that we have in life. Its just that I want you guys to know, incase both of the parents' birthdays fall on the same day then the one who has been covered for the longest period would be required to provide the primary coverage for the children.
Also, I would like to mention over here that the spouse who has his/her policy through a current employer would be liable to provide primary coverage than the one who may have had the coverage through a past employer. These are pretty much interesting topics for discussion, thanks for bringing up these issues !
Posted: Fri Apr 21, 2006 5:11 am Post subject: These practices are not state controlled...
Hi ALL ! I just could not resist myself from joining this interesting conversation going on for quite sometime.
I feel these practices are quite common amongst the insurance companies today. Since these practices are not state controlled, hence they vary with different insurers. Therefore it has become all the more important to clearly understand how these companies handle the dual coverages.
Posted: Fri Apr 21, 2006 5:20 am Post subject: who cares after I am free ?
Thanks for these vital informations...but what if I get divorced or separated ? Would my former husband contribute towards the primary coverage ? _________________ Register Now to have your Insurance queries solved.
Posted: Fri Apr 21, 2006 5:37 am Post subject: Get the custody of your kids...
Friends !
The birthday rule states that the parent who has the custody of the children would provide for the primary coverage. So once you are separated or divorced, it would fall on your part if you get the custody of your kids. But you should remember, that once you remarry, your new husband's coverage would be considered as the secondary coverage.
But then also your former husband's health plan would be considered, once the limits of both your and your new husband's plans are exceeded. You may try and appeal at the court to change this payment order, but do that only after you have notified your insurance company well in advance.
regards..Evan.
Posted: Mon Jan 15, 2007 6:55 am Post subject: All Types of Insurances
Hi Rachel,
You can go through the list of various Types of Insurances here. This has been prepared by the community members. Feel free to add some more.
Thanks,
Evan
Just like rachel, this is the first time that i have heard about birthday insurance and computer insurance. I have been a life insurance agent but i haven't hear about these. Maybe they are not offered in our country, that why..
There are a lot of things that i can learn from this...
One questions, are all of you have a background on insurances? Are you all insurance agents who planned to set up this forum?
