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How Much Does Secondary Health Insurance Cost?

With healthcare costs on the rise, most people in the United States are getting stuck with higher and higher medical bills, as out-of-pocket costs continue to increase. Most individuals have grown tired of struggling to pay down their medical debt. Such people fear the position that they could find themselves in if they become ill or get hurt prompting them to consider extra protection in the form of secondary health insurance coverage.

Secondary Medical Insurance

Secondary health insurance coverage is available in addition to a primary health insurance plan and covers gaps in conventional health insurance coverage. Because most common medical plans do not cover all of your requirements (like dentistry and eye health), supplemental dental and vision plans can be bought to add coverage to these areas.

Supplemental Health Insurance

These healthcare insurance plans are intended to help pay for some of the healthcare costs that your primary plan does not cover. This can consist of copayments, coinsurance, and deductibles. In many instances, the benefits are paid directly to you, not the medical provider, so that you have less financial burden when it comes to things such as out-of-pocket medical costs, lost wages, or other unexpected expenses resulting from illness or injury. Plans can also be bought to cover areas of health that might not be included in your primary plan benefits. A supplemental dental or vision plan can help you pay for routine dentistry work and eyeglasses.

Can I Buy Supplemental Health Benefits in Place of Major Medical Insurance?

Secondary health insurance plans are designed to complement, not replace, primary medical benefits. Until 2019, the Affordable Care Act (ACA) necessitates almost every person to have a qualified health insurance plan (QHP) or pay a tax penalty for being uninsured. A qualified Health Plan (QHP) is an insurance plan certified by the Health Insurance Marketplace and meets ACA’s coverage needs. Supplemental health programs are not regarded as qualified coverage and, thus, are not ACA compliant.

How Secondary Health Insurance Works

Secondary health insurance functions by paying you directly. Your primary insurance provider pays your healthcare insurer directly for medical expenses. But with secondary health insurance coverage, cash benefits get paid directly to you if you experience a qualifying event. These benefits can be used for many expenses.

Things that Secondary Medical Insurance Covers

Secondary health insurance that is bought to cover known medical expenses that are not covered by a primary policy, such as supplemental dental or vision plans, contains a wide array of included services.

The great thing about enrolling in secondary health insurance is that you have a second chance at getting medical expenses paid for. Bills that may not be paid in full by your primary insurance can be paid for out of the cash profits you receive from your secondary insurance company. Having this second layer of protection helps in insulating you against mounting medical bills. In the case of supplemental eye and dental coverage, it helps cover expenses that you will pay.

Does Secondary Insurance Cover Deductibles?

Yes, you can employ secondary insurance to cover deductibles. Plans that provide cash benefits can be used to pay for out-of-pocket costs such as deductibles and copays. In fact, they can be used for any number of expenses you’d like to cover like rent, utilities, and transportation costs.

Call for your Quote Today

Stop waiting around! The right insurance provider is out there and we’re going to make sure you’re covered for the foreseeable future. Accidents can happen any time whether it’s day, night, workdays, or holidays. Insurance is the best way to prepare for the unpredictable, and a great way to secure your peace of mind. Give us a call today or fill out the form for a quote – you’ll be glad you did!

Resources and References:

• Qualified Health Coverage
• Coinsurance