- 1). Find out the details of the employer-provided insurance you'd like to exchange. In many cases, your employer gets the coverage at a discount with the requirement that all employees participate. If that's the situation, you will not be able to make this exchange.
- 2). Explain your reasons for wanting to go without coverage. Already being covered by a spouse or parent is one of the best examples. Find out from your information source how much the company would spend on you if you were to sign up for the insurance.
- 3). Subtract 25 percent from that number. Although the specifics vary according to your deductions and other factors, paying salary will cost your company more money in taxes than paying an equal amount of money into an insurance program.
- 4). Use the result from Step 3 to begin negotiations. Expect that your point of contact will need to do research and check with higher-ups before coming to a final decision.
- 5). Have reasonable expectations. If this is an option for employees, most employers spell it out for you during your intake and orientation. On the other hand, it never hurts to ask.
- 6). If all else fails, opt out of the insurance or take the minimum plan available. You won't receive an actual bonus to your salary, but you will get more take-home pay than you would if you opted in.
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