Marriage is a qualifying life event that opens a 60-day Special Enrollment Period for health insurance. But it's also time to review all your insurance coverage. Here's your checklist.
Health Insurance Decisions
You have 60 days from your marriage date to make changes. Your options:
- Add your spouse to your employer plan
- Join your spouse's employer plan
- Both keep separate plans
- Shop the ACA marketplace as a household (your combined income affects subsidies)
Life Insurance
If your spouse depends on your income (or vice versa), life insurance becomes essential. Consider term coverage that matches your mortgage and income-replacement needs.
Beneficiary Updates
Update beneficiary designations on all policies, retirement accounts, and bank accounts. Your new spouse should typically be your primary beneficiary.
Auto and Home Insurance
Combining auto policies often results in multi-car discounts. If you're buying a home together, shop for homeowner's insurance early in the process.
Tax Implications
Filing jointly changes your Modified Adjusted Gross Income, which affects ACA subsidies. Run the numbers both ways (married filing jointly vs. separately) to see which gives you the best subsidy.