supplemental Insurance

supplemental health Plans

Health insurance is probably one of the most important and basic types of insurance a person should have. The typical “qualified” major medical plan will help with many of the expenses for hospital stays, treatment of diseases, surgeries, emergencies, diagnostic imaging, and lab work.

However, most health insurance plans do not cover medical expenses until the patient has first paid their deductible. Deductibles are usually $500-$6300, and they can be even higher if you use “out-of-network” providers/facilities. After the plan deductible has been met, the balance of the medical bill is subject to a coinsurance percentage, which is split by the insured and the insurance company. The patient is responsible for their portion, up to their plan’s listed “maximum out-of-pocket” limit.

Certain “Supplemental” health insurance plans have been designed to provide financial assistance toward meeting the cost of expensive medical treatments, including the deductible and coinsurance amounts! Also there are often “exclusions” for items that health insurance plans do not cover.

Some common financial strains which patients encounter are: income shortage due to time lost from work, travel expenses for treatment away from their home town (including lodging, gasoline, and food), home health aides during recovery, food for special diets, certain therapies like therapeutic massage, home modifications to accommodate new physical impairments, etc.

Supplemental insurance plans can help with extra funds. Some examples are Cancer plans, Heart & Stroke plans, Critical Illness plans, Personal Injury/Accident plans, Hospital Recovery plans, Long Term Care insurance plans, and “Gap” plans. These plans usually pay a fixed amount to the insured, based on a benefits schedule. They often require a receipt or a copy of a medical bill to determine eligibility for benefit payment. In many cases, the cash is paid directly to you, and you decide what to do with it!

If you have a family medical history which includes serious health conditions like heart disease, stroke, cancer, or another debilitating problem, you may want to consider applying for one of these supplemental plans. Acceptance for coverage often requires a review of your personal health record, so it is wise to apply before you experience a negative diagnosis of a serious condition. In some cases, age may affect your rate, so it could also be inexpensive while you are younger.

Contact us for details. We will be glad to provide you free quotes from top-rated insurance companies. Call: (512) 535-3556 from 9 am-6 pm, Mon.-Fri. or send an e-mail to: Tom@austinhealthplans.com. You can apply for some of these supplements by just clicking on the logos for many of the major insurance companies on our web site!