A health insurance waiver exempts individuals or companies from mandatory health insurance coverage for a specified period. It is often necessary to present a form and supporting documents. Reasons for waivers include overlapping insurance plans, cost-prohibitive insurance, and financial hardship for low-wage or part-time employees. Colleges and universities may require students to obtain health insurance or obtain a waiver.
A health insurance waiver is used to exempt the person or company that issued the waiver from participation in mandatory health insurance coverage during a specified period. The obligation to purchase insurance is waived by the entity claiming the insurance from anyone else or any other entity. It is often necessary to present a form and supporting documents before granting a health insurance waiver.
Individuals who apply for a waiver often do so because they already have a health insurance plan in place that would overlap with their required mandatory coverage or because purchasing insurance would be cost-prohibitive. Employers may also require employees who do not wish to enroll in a health insurance plan included in a benefits package to sign up for a health insurance waiver. The waiver is used to prove that the employer complied with mandatory health insurance laws.
Many colleges and universities require students to obtain health insurance if they are enrolled in a minimum number of credit hours established by regional law. For example, students at community colleges in the Commonwealth of Massachusetts in the United States who are enrolled for at least nine credit hours as day students must enroll in the college’s student health insurance plan or obtain a waiver. If an individual does not file a student health insurance waiver before the deadline, the student often has to pay for the college-purchased insurance plan even if the student already has insurance through another provider. The purpose of a health insurance waiver is to avoid paying the premium that the college often charges all other students due to mandatory health insurance laws for college policies. If the waiver is not granted or presented, the student must pay the additional cost as part of his annual tuition fees.
Some companies may also seek health insurance waivers for their obligations to provide workers with a certain level of health insurance coverage or any coverage at all. If a waiver is granted, companies may waive coverage or keep their current insurance plan even if it is less than the minimum required by state or state law. The main reason companies request waivers is that it would be financial hardship to cover low-wage or part-time employees. Those companies say they would be forced to lay off workers or cut wages to meet the requirement for mandatory health insurance. Government agencies that approve waiver requests often do so because they consider it better for the economy to keep workers employed instead.
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