Why can't I cancel my health insurance ANYTIME?

    
    
Why can%26#039;t I cancel my health insurance ANYTIME? I have $275.00 a week deducted from my paycheck for health insurance coverage. Our company is slow, dropping me to 20 hours a week. I want to cancel my policy. This is money that they TAKE from my check, I have no choice. I%26#039;m told open enrollment is the time, that%26#039;s months away. I now take home about $175.00 a week. (I pay more to insurance than what I get to keep). In signing the contract, I guess I never realized that PROMISES the insurance company YOUR money until open enrollment. Is there anything that can be done short of marriage, divorce, child birth or death? If I obtained other insurance, would that work? I would need to show proof though right? Aren%26#039;t there any laws to protect us? Why wouldn%26#039;t losing 20 hours a week be qualifying grounds?

So many questions, so frustrating.

Thanks,

Roger

  • Other Answers (7)

    • You are required to wait for open enrollment by IRS section 125 for as long as you meet the definition of %26quot;eligible employee%26quot; If you no longer meet the definition of eligible employee , and your company does not include part timers as eligible employees, you should be able to discontinue coverage. These rules are determined in your company%26#039;s Section 125 plan (cafeteria plan) documents. Ask your benefits manager to review their documents.
      Use link below to IRS section 125.
      Don
      http://mtnhealthinsurance.com http://mtnhealthinsurance.com/index.php?...
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