Supplemental health insurance plans pay you a lump sum to offset the majority of your financial risk in the unfortunate event of accidents, injuries and critical illnesses. When determining which of these plans should be paired with your health insurance plan, it’s wise to seek the help of a licensed agent. Nearly every major medical carrier has added its own line of supplemental health insurance products subsequent to The Affordable Care Act (ACA) being signed into law.
The ACA, also known as Obamacare, created a high demand for supplemental health insurance products for several reasons:
- Metallic plans or Obamacare major medical health insurance plans – for those Americans who qualify for little or no financial assistance from the government – have either very high deductibles or unaffordable monthly premiums. By selecting a high deductible plan, supplemental health insurance plans can be a cost-effective way to cover deductibles and coinsurance. In many cases, adding supplemental health insurance products to your primary health insurance plan can eliminate all of your out-of-pocket expenses.
- For those who cannot afford to purchase a major medical health insurance plan, supplemental health insurance products can be purchased as stand-alone plans that cover unexpected illnesses such, as heart attacks, strokes, cancer or accidents and injuries.
- Many Americans will choose to purchase limited benefits health insurance plans to avoid the high premiums associated with metallic plans at the Bronze, Silver, Gold and Platinum levels. To protect against per-occurrence, annual and lifetime maximums often integrated into limited benefits health insurance plans, supplemental health insurance plans complete the coverage and offer peace of mind.
Give us a call today at 303-993-5670 to learn about the products we offer or to schedule an appointment. We look forward to hearing from you.