This strategy is not for everybody but those who can use it should be able to save some serious coin and feel like they have a good health insurance portfolio.
Like most “entitlement” programs, Obamacare policies only act as a base but the media and left-leaning politicians have implied that Obamacare is all the insurance that is required. Unfortunately, these same politicians and media who brag about how encompassing and “affordable” government defined and mandated health insurance is are not willing to pay bills for the Americans that they force to buy health insurance.
The “Supplemental” strategy works like this. If you qualify for an Advanced Premium Tax Credit (aka subsidy) from the IRS to help pay your health insurance premium, enroll in a Bronze plan. Depending on how much “subsidy” you get from the IRS, the premium that you pay for the base plan will be a small amount.
But be aware that the Bronze Level plans have high deductibles. In addition to the Bronze plan, if you use this strategy, you will want to add either a hospital or comprehensive “Fixed Indemnity” type of supplement.
The supplement plan will actually be your primary insurance plan since it will pay your initial medical bills in the event you have a serious medical issue during the year.
If you have questions about strategies that you can use to hold down costs for good health insurance for you and/or your family, and live in Texas, use the form below to contact The Insurance Barn.