How Can Supplemental Insurance Help With My High-Deductible Health Plan?

No one expects to face a situation like this. You chose a high-deductible health plan (HDHP) to keep your monthly costs low, especially since you're in relatively good health. But a sudden injury lands you in the hospital and instead of focusing solely on the treatment necessary to recover, you become painfully aware of the high out-of-pocket costs that await you. 

No one wants this scenario, no one anticipates it, but it still happens all too often. This is where supplemental health insurance can help.

Supplemental insurance is designed to fill the gaps that medical insurance doesn’t cover. Unlike major medical insurance, supplemental plans typically provide cash benefits paid directly to you, which you can use however you need, such as helping to cover your high deductible. Trustmark offers several types of supplemental products that are designed to protect your finances and provide relief when unexpected health events happen.

Accident Insurance Benefits

Think of accident insurance as the most straightforward of supplemental coverages. It can provide cash benefits on a pre-set schedule for a wide range of covered accidents, from common ones like a broken leg to more severe injuries, such as the loss of a limb. When a covered accident sends you to the doctor or the emergency room, accident insurance, like Trustmark Accident Insurance, pays cash benefits you can use however you choose. Even if your medical expenses don’t reach your full deductible, your benefits can help cover the out-of-pocket costs for which you’re responsible.  

Critical Illness Insurance

A serious illness can strike at any time.  On top of facing a major health challenge, if you are unable to work, you may see your income decrease, while your medical and daily living expenses rise. Critical Illness insurance, such as Trustmark Critical Illness or Trustmark Critical HealthEvents, provides lump-sum payments upon diagnosis of a covered condition. With the money paid directly to you, and not the medical provider, you can use it for anything you need, including paying down your high deductible.

Hospital Indemnity Insurance

An unexpected hospital stay can keep you from working and create financial strain. Hospital indemnity insurance such as Trustmark Hospital StayPay®, pays cash benefits for covered hospital admissions, helping you to manage the costs that accompany inpatient care. These benefits can be used to help cover your deductible, easing worries and allowing you to redirect your focus on recovery. Or, the benefits can be used for happier hospital stays, like the birth of a child.

The bottom line is this: a high-deductible plan can be a smart financial decision and offer you valuable advantages, but it also comes with risk. When life throws the unexpected your way, you want the ability to receive care without worrying about how you’ll afford your deductible. Supplemental health insurance products help bridge the financial gap between low-premium plans and the actual cost of care.