Supplemental health insurance for HSA
originally posted: 11/22/2006 reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If in doubt, please send a new question or ask for an update.
Q: I am looking for something to supplement my other health insurance until the deductible for my family coverage is met. I need something that will cover prescription costs as well. Does this policy help with prescription cost? I have a $4800.00 yearly deductible that has to be met and then my insurance covers 100%. Is this a policy that can help me with meeting the deductible?
A: Check Basic Health Insurance, Value Health and Value Med. These supplemental policies can be used separately or in combination for even more insurance coverage. All of these insurance plans are 'allowable other coverage' when used with a Health Savings Account*. None of these supplemental policies cover prescriptions so you may wish to take a separate free prescription drug discount card to lower out-of-pocket costs. *Note that supplemental insurance plans are not 'qualifying high deductible health plans' as required for health savings accounts. In other words, supplemental insurance can be used in addition to, but not in place of, a qualifying insurance plan under HSA laws.
Summary
More resources:
FreedomBenefits.netBasic Health Insurance Value Health Insurance Value Med Insurance FreedomBenefits.net free prescription drug card