Supplemental Health Insurance

[McGiord]

Hi MR Community,

My wife is pregnant and will have a C section soon, our current health insurance will cover 80% of the cost, we will pay the remaining 20%.

I wonder if it is worth to get a supplemental health insurance policy to cover what my current insurance will not cover?

Any suggestions?

Many Thanks

 

[mojohanna]

This should be easy. What is the cost of the 20% not covered by your existing insurance? What is the cost of the premium of the supplement and will the cover a "pre-existing" condition. Also, will you have to pay for said coverage for a minimum amount of time (for example, one year?) Sorry, just read this after I posted. I am asking hypothetical questions here. I am not asking you to divulge specific amounts.

If the supplemental insurance premium is more, then you have to decide if it is worth the added benefit of the continued "savings" for the numerous early childhood Dr. visits you will have, both planned and unplanned. That is assuming, however, that Dr's visits are still at the same 80/20 and not at a fixed copay.

The biggest thing I would be careful of with any supplement is checking on exactly what is covered. You don't want to be wasting your money on a plan that will not cover what you want it to.

Congrats on the pregnancy. Kids are a lot of work, but a very rewarding experience and will bring much joy to you and yours. Good luck!!