Monday, July 2, 2012

medical Gap Plans Can Ease the "Bite" of High Deductible Group health insurance Texas Plans

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Probably everyone in Dallas Fort Worth knows man who had a major illness or accident that wasn't totally paid for by their company's group condition assurance plan. Group condition assurance rates have climbed abut twelve to fifteen percent per year, and employers have had to raise deductibles and coinsurance to cut the expense.

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The corollary is that today, employees in Dallas Fort Worth with group condition assurance have two to three times as much financial risk from a major curative accident or illness claim as they did a decade ago. An employee with a house working for a company with group condition assurance is often exposed to over ,000 in major curative charge risk, and there appears to be no end in site to rate increases and deductible increases. And today in Dallas as in the rest of the country, curative expenses are the highest hypothesize for personal bankruptcy.

With that as a backdrop, Colonial Voluntary assurance introduced in Texas in August a new curative gap plan that takes the "bite" out of major curative charge risks. What curative gap plans, or curative assurance gap plans do is pay the employee cash to cover major curative assurance claims. Thus the employee has the money to cover their curative bills, and the owner has an employee who is more effective and not as stressed.

The Colonial curative gap plan is very affordable, and has a whole of options that allow the employee to cut much or all of their group curative assurance plan's out of pocket risks. Like most of Colonial's products, the new curative assurance gap plan is a group product that is offered by the employer, and the employee can buy voluntarily and have deducted from their pay check.

Dallas area employers can also buy and pay for the Colonial Life and accident curative assurance gap plan for their employees. In fact, by combining Colonial's curative gap plan with a high deductible group condition plan, we have found that employers can lower their employee's curative out of pocket charge risk at a lower cost than if they purchased a group condition condition assurance plan with a lower deductible.

Colonial even offers a version of the new curative gap plan that is compatible with condition savings inventory group condition assurance plans as well as primary copay group condition assurance plans.

Medical gap plans offer Dallas area employers someone else way to offer their employees more benefits and save money.

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