- Facemask – check.
- Hand sanitizer – check.
- Travel embargo – check.
- OptiMed Gap secondary insurance – you really ought to check.
Coronavirus is coming, if it hasn’t already invaded your neighborhood. That’s the warning from government officials and the siren of national media. Most cases may be mild, but the Center for Disease Controls (CDC) expects 15% of those affected to become severely ill, and 5% critical.[i]
Except for the initial test which is free, that adds up to 20% of cases registering significant medical costs, likely to include hospitalization and/or quarantine.
About one-third of 155 million Americans receiving employer-provided health insurance are in high deductible plans.[ii] A percentage of those buffer their finances with tax-free savings that can be expended on medical charges.
Those in the best position to pandemic-proof their personal treasury, however; supplement their major medical plan with OptiMed Gap, the antidote to out-of-pocket expenses.
High Cost of Coronavirus
Business Insider recently compiled the medical bills triggered by not just this disease but even by the concern it raises[iii]. Osmel Martinez Azcue’s story illustrates why adequate coverage can be a lifesaver.[iv]
Upon return to his home in Miami, Florida, from a trip to China, Mr. Azcue checked himself into the hospital with flu-like symptoms. Testing that included a CT scan revealed that Mr. Azcue had only the old-fashioned flu, and not coronavirus. His bill topped out at $3,270, according to reports in the Miami Herald.
Various studies show that many Americans – unlike Mr. Azcue apparently -- avoid or delay treatment due to their out-of-pocket liability.[v] Those naked in an HDHP face a tough call.
Business Insider published a February 27 post under the headline:
“Getting treated for coronavirus could cost more than $3,000 – and it might make some everyday Americans broke”
Gap to the Rescue[vi]
OptiMed Gap is secondary insurance covering many of the underlying major medical plan’s deductibles, copays and coinsurance. Its attractiveness includes two key points enabling a group to enroll any time of the year:
- Guaranteed issue
- Voluntary contribution
It’s also extremely customizable. OptiMed represents four carriers of Gap, one of which offers 22 design options to custom fit coverage to an affordable premium. This site contains a wealth of information and provides an abundance of broker marketing materials.[vii]
Key points to remember are that:
- Gap benefits can be just inpatient, inpatient and outpatient or a combined benefit.
- Gap has an HSA-compatible option.
- Gap offers a prescription drug rider.
- Telemedicine is included in any OptiMed Gap policy
- Gap plans can include Office Visit and MNSA benefits, plus many more.
Especially considering that employees can fund some if not all of the Gap premium, alerting Human Resource Departments of companies with high deductible plans seems a matter of due diligence. OptiMed’s benefits consultants would be glad to assist.