Medical costs can add up quickly. A secondary health insurance policy can pay cash benefits for hospital and doctor expenses.
Many Americans with employer benefits understand that having a second healthcare plan to assist with routine healthcare expenses is a smart decision. They know it as a Health Savings Accounts, or HSA. They make out-of-pocket expenses more managable and spending more predictible. And they are a smart way to deal with rising deductibles.
This is Dan Rhoads here, your agent. I am a huge fan of supplementing a high deductible health plan with secondary coverage. As a strategy, it has worked for corporate employees and Medicare recipients for years. I believe that if more people took advantage of these options when they were young and still healthy, then there would be fewer Americans in dire healthcare situations.
That is why I am so passionate about secondary health insurance plans. I’m asking you to let me run comparisons for you. Let me compare a low deductible health plan, against a high deductible health plan and a secondary coverage option. I guarantee you’ll save money.
I have been offering this kind of combo plan for 2 years now. Click on the PDF image to see an example proposal.
Common benefits of Secondary Health Insurance
- No network limitations.
You can go to any licensed doctor, hospital, or outpatient facility that works with your primary health insurance. In other words, it’s flexible. And, it goes where you go.
- No deductible or waiting period.
Secondary coverage provides cash for medical expenses that are not paid by your primary coverage. And, isn’t that what we all want in this era of rising deductibles and healthcare costs.
- No coordination of benefits.
Benefits will not be reduced, regardless of how much of the medical bill your primary plan pays. You will receive any excess benefits by check and can use that cash any way you want.
- Renewable coverage until age 65.
These insurance plans are medically underwritten. So, you have to be relatively healthy to qualify for this class of insurance. But these secondary health insurance plans will not be cancellable due to any pre-existing condition, once you are subscribed.
A Smart Combination of Insurance Benefits
Consider combining this kind of plan with a high deductible health plan, just as you would for an HSA. Frequently, we see clients save a few hundred dollars a month by taking a high deductible health plan together with a secondary health insurance plan, when compared to a low deductible health plan.