I lived in KY and just moved to IN. Can one have dul residency with regard to insurance (auto and health)?
Question:
Answer:
No, there's no "dual state residency". Here's the problem - each state regulates it's own insurance policies. Sure, Blue Cross might write policies in 48 states, but they aren't the SAME policy. Each has to be tailored to the state insurance department's rules and regulations. What's covered in one state might not be covered in another.
Because of that, each policy ALSO has it's own "preferred provider" list. If you read the small print, your policy in KY probably states something like, "we'll only cover you for life threatening emergencies outside of KY" or "this policy voides 30 days after you move out of KY". IN any case, you'd have to drive back to KY for all your medical services.
You have to have an auto policy compliant with the state that you're running the tags on your car. You won't be able to renew KY tags to an IN address, and you won't be able to get IN tags on a KY policy. The driver's license ALSO has to match the declared state of residence.
Sorry, you'll have to switch your health policy over. I'd recommend you do it ASAP, as it could take a while to put in place, and you could have coverage issues in the meanwhile.
Dual residency is not allowed. Even if you own a home in both states you need to pick one as your primary residence. In fact, the insurance company you have in KY may not be available in IN. With the health insurance you may need to go through the underwriting and get a brand new policy. Blue Cross is one of the big companies that will not transfer across state lines, many others won't as well.
More Questions & Answers...