My child has a serious illness and may need hospitalization from time to time. But I just realized that with our new company group plan, HMO and/or PPO only pay 80% of hospital confinement. Is there a supplemental health insurance to help me pay the remaining 20% of the bill, just in case?
If you are willing to pay a premium higher than what you are already paying to your current policy, some companies may offer high-risk supplemental health insurance plans. The premium for this supplemental health insurance may cost around $1,000-$2,000 a month or even higher. Most health insurance policies set an out-of-pocket limit as to how much you have to pay in a year. To illustrate, if the out-of-pocket maximum is $3,000 a year, the 20% you may have to pay should not exceed $3,000 in total. The insurance plan may pay 100% in allowable charges once you reach the maximum. You can also do some research if it would be more convenient or inexpensive if you just pay the 20% coinsurance as the need arise. Answer by Dennis Kinder - June 4, 2009 @ 12:05 pm 1 CommentLeave a comment |
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To have a secondary coverage or 
Secondary health insurance rarely makes sense. Your current coverage may had a coinsurance, but your out-of-pocket maximum will likely be less than what a secondary policy might cost you in annual premiums.
Comment by Moderator — June 24, 2009 @ 11:04 pm