Medical Gap Insurance has “Munster” Benefits for Families

Medical Gap Insurance has “Munster” Benefits for Families:  Why Having Medical Gap Insurance is So Important to Have with Current Medical Insurance

It’s Fright Night! And Transylvania’s most notorious vampire is up to his old tricks down in the cellar. Yup, Grandpa Munster’s latest experiment has cast a magic spell and left his son-in-law Herman in catatonic state. Goodness! This modern day Dracula has goofed up one of his concoctions. Yes, we’re keeping count. So what did the sneaky senior of the family conjure up that turned a seven foot six 380 pound giant into such a scaredy cat? Well, it all started with a batty idea to sign the family up for health insurance that would require them all to pay out-of-pocket costs for treatments not covered by their carrier. What’s worse is that they won’t be reimbursed! Oh boy, if Herman’s wife, Lily finds out, she’ll turn into the bride of Franken-stunned!

So, Grandpa has been sleeping upside down all week trying to develop an antidote that will counteract his mistake and cover the accidents he has from time to time in his laboratory. But, upon further non-reflection, he decided to consult with his niece Marilyn. Okay, she wasn’t as glamorous as the rest of the household, but she mentioned something about medical gap insurance and that it would work well as a supplement to their current insurance. Marilyn immediately called us at Achieve Financial Group from the coffin phone to find out more about Medical Gap insurance.

We explained that the amount of out-of-pocket costs her family incurs is dependent on several factors, including their healthcare needs and their health insurance benefits. If they sign up for a medical gap insurance plan, it will provide them with lump-sum benefits for covered accidents and critical illnesses. This coverage is not major medical insurance, nor is it ACA-compliant. However, it can work in tandem with their ACA-compliant health plan.

Also, pre-existing conditions won’t impact their eligibility for most group plans in the year they are offered. These plans are guaranteed issue, which means her family qualifies, regardless of their health history. And what they pay for a medical gap plan depends on which plan they select, which is about $1 per day on average for employee coverage.

The payments from medical gap insurance can be used however the insured individual chooses, including, but not limited to the following:

• Medical bills before one’s deductible has been reached
• Coinsurance and copayment amounts
• Prescription medications
• Living expenses such as groceries, rent/mortgage, fuel, and more
• Non-covered healthcare expenses

So, the next time a creepy mad scientist prevents you from saving costs on medical coverage, don’t let him bite you, just contact Achieve Financial Group at (800) 278-8994 and visit us on the web at www.achievefinancialgroup.com.

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