The Need For Catastrophic Health Insurance
The unexpected can be expected, whether that be a tragic accident or the onset of a disease. While we do not bill your insurance company nor will we collect from you any insurance fees, we recommend all patients continue to participate in some form of health insurance program. Despite the remarkable care you receive as a patient, traditional health insurance still has its place. It should be maintained for specialist care, serious illness and expensive, unforeseen events. Please seek advice from an insurance professional for details regarding catastrophic health insurance.
Our patients are not required to have insurance to enroll, but many have made adjustments to their insurance coverage often making it complementary to our primary care program. Below are a few examples that have worked well for others.
Concierge Care + High Deductible Insurance Plans
A high deductible insurance plan allows you to be covered for major “catastrophic” medical problems in exchange to agree to pay more money out of pocket for most or all medical events up to a certain limit. Once the limit is met, the consumer enjoys 100% coverage. For example, a high deductible plan for a family might require the family (with the help of the employer) to cover the first $5,000 in medical expenses. After that $5,000 is spent, the family is covered entirely for all medical expenses throughout the balance of that year. This type of plan typically costs the consumer dramatically less in monthly premiums. Many of our patients take the reduced monthly premium associated with a high deductible plan and apply those dollars towards a membership enrollment.
An HSA allows you to pay for medical expenses not covered by your insurance. So the Concierge Care program coupled with an HSA or HRA may allow you to pay for your Concierge Care fees with tax-exempt funds you deposit each month in your HSA.
Concierge Care + HSAs + High deductible plans
By using your HSA funds to pay your Concierge Care program fees, you may realize tax savings while maintaining affordable catastrophic coverage.