If you along with your partner both operate for organizations that offer medical insurance, it's theoretically achievable for family members to become enrolled in both options simultaneously. When a person has dual protection in this manner, it's known as secondary health insurance coverage.
Wellness insurance coverage, secondary in nature, is oftentimes redundant. Quite simply, you might have overlapping coverage for the exact same things under each plans. So when would you ever really will need secondary health insurance coverage? Is not it a waste of income to invest money each and every month on two month to month premiums?
One cause might be if, for what ever reason, 1 or more members of the family needs a lot more protection than what is offered by means of your provider. For example, let us say you might have a $500 annual benefit for prescription drugs annually for one person on strategy A, and another $500 annual advantage for prescription medicines per individual on plan B.
Now let's suppose that you use up all $500 of your prescription drug benefit beneath strategy A early on in the course of the year. If you did not have a secondary provider, you would be on your personal to shell out the complete retail cost for your prescriptions for the rest of your 12 months. Once your primary well being rewards are exhausted, your well being insurance coverage secondary provider (plan B) could kick in and present you an extra $500 worth of prescription drug protection for that remainder with the yr.
So why is it that most insurance organizations call for you to disclose any well being insurance coverage secondary strategies you may be covered under? They do this to stop insurance coverage fraud, which can happen within the form of seeking to make a profit by submitting statements for reimbursement from both insurance coverage organizations at the identical time for the identical medical advantage.
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