Offering assistance with high out-of-pocket expenses
While high-deductible health plans are a popular option for employers looking
to provide affordable medical coverage, these plans often raise concerns from
employees about potential out-of-pocket expenses. However, even the coverage
available on the Exchange will likely leave individuals open to these expenses.
Whether an employee has access to subsidized coverage through the exchange or
their employer, high deductibles and cost share requirements are going to impact
affordability. To illustrate this issue, consider the following:
- The most affordable “Bronze” plan offered by PPACA will have an actuarial
value of 60%–allowing for more than $6,000 in potential out of pocket expenses.
This plan would be considered catastrophic coverage prior to PPACA.
- According to a 2012 AFLAC Workforce Report, more than half of American
workers have less than $1,000 in savings for emergency expenses.
Fortunately, Ternian has designed affordable Major Medical Supplement plans
that can complement existing high deductible coverage. Because these plans don’t
“wrap around” benefits, they are easier to manage and won’t raise red flags with
major medical carriers concerned about adverse selection or higher utilization.
View a sample
plan. You can also contact us for more
The insurance described on this website provides
limited benefits. Limited-beneft
plans are insurance products with reduced
benefits, intended to supplement
comprehensive health insurance plans.
This insurance is not an alternative to
comprehensive coverage. It does not
provide major medical or comprehensive
medical coverage and is not designed
to replace major medical insurance. Further,
this insurance is not minimum
essential benefits as set forth under the Patient
Protection and Affordable