Can I Purchase Health Insurance on Someone's Behalf?

[TonyW1980]

As the title states, I am looking to purchase health insurance for someone other than myself. (My friend and I reside in TX) This is a great friend of mine who just had a baby and is struggling financially. Since only family can be added to a policy, I would just like to know if it's possible to have an individual plan set up for someone and I pay for it, like BCBS, Aetna, etc...Not sure what state mandates I would run up against. Google isn't a whole lot of help on this one.

Thanks everyone.

 

[Josh]

I'm not aware of any law that would prevent you from paying for the policy, but they would most likely need to take it out on themselves.

 

[Pangaea]

Wouldn't the OP have to show insurable interest?

 

[senior-advisor-indiana]

It's not life insurance.

 

[Josh]

Wouldn't the OP have to show insurable interest?

That my friend is part of why you got bored to death.

You're over thinking it. To my knowledge, with the occasional exception of STOLI, anyone can have someone else pay for their insurance. Even with the insurable interest issue, the payor doesn't have to have insurable interest in the insured, just the beneficiary. Health is a bit different, but virtually across the board the payor can be anyone.

 

[YouGotMyMoney]

you can pay, HumanaOne even has the alternate payor section if someone else other than the insured is paying.

 

[dgoldenz]

you can pay, HumanaOne even has the alternate payor section if someone else other than the insured is paying.

x2. The insured would need to sign the application assuming they're over 18, but there's nothing to prevent you from paying for it. I've had people buy policies on their adult kids a few times. Kid signs the app, mom and day pay the premiums.

 

[YouGotMyMoney]

x2. The insured would need to sign the application assuming they're over 18, but there's nothing to prevent you from paying for it. I've had people buy policies on their adult kids a few times. Kid signs the app, mom and day pay the premiums.

true, just dont use a business account and list the business name, that's a naughty NO NO.....LOL...

Mr. Agent, I'd like to use my business account...

AGENT: dont ever tell the insurance co, it's a biz account--

 

[TonyW1980]

Thanks alot for the replies everyone, they were very helpful. I've been reading these forums alot because I just took a job as a sales staff member at a State Farm agency. I love the job so far and have found some great information here to help me out.