It doesn't take too long to uncover Texas ingenuity.
No matter which direction you travel between the Red and the Rio Grande, you'll see examples of what made this Republic (yes, we were once a republic after all) and state great.
From oil fields, farms, cattle ranches, and other evidence of Texans trying to tame the land, a certain spirit exists . . . doing what is necessary to make good out of a tough situation.
That was and remains one of the best insurances against hardship.
Health insurance is a necessary purchase for many people. Certainly, you want to cover yourself and your family in the event something goes wrong from a health standpoint.
However, it can be expensive, especially if you have a high deductible plan. You usually trade this situation for a lower monthly premium.
But what happens when you need the insurance to cover medical expenses at claim time?
A high deductible health plan requires you to pay a deductible before your insurance company will start to pay for your medical expenses.
A deductible is the set amount of money that you are responsible for paying each year before your insurance company will begin to cover your medical expenses.
For example, if you have a $1000 deductible, you will be responsible for paying the first $1000 of your medical expenses each year.
In True Texas form, we like to figure out solutions at Insurance For Texans. Regardless of your current health insurance status, we also think you should know your options.
If you are looking for ways to reduce your out-of-pocket medical expenses, you should consider pairing your high deductible plan with an indemnity policy that puts cash in your pocket for larger events and can help you lower fixed costs.
An indemnity policy works by reimbursing you for covered medical expenses.
You will pay a monthly premium for your indemnity policy.
Then, if you have a covered medical expense, you will submit a claim to the insurance company.
The insurance company will then reimburse you for a portion of your covered medical expenses.
The amount of money that you are reimbursed will depend on the terms of your policy.
For example, some policies will reimburse you for 100% of your covered medical expenses while others will only reimburse you for a portion of your covered medical expenses.
There are several benefits of an indemnity policy.
As we mentioned before, if you have a high deductible health plan, you can use an indemnity policy to pay for covered medical expenses that are not covered by your health insurance plan.
This can help you save money on out-of-pocket costs.
Indemnity policies are not connected to a specific health insurance plan.
This means that you can use your policy to pay for medical expenses that are not covered by your health insurance plan.
For example, if you have a $1000 deductible and your health insurance plan only covers 80% of your medical expenses, you can use your indemnity policy to pay for the remaining 20%.
Life is unpredictable.
You never know when you or a family member will get sick or injured.
An indemnity policy can help you cover unexpected medical expenses that are not covered by your health insurance plan.
This can give you peace of mind knowing that you have a safety net in place to cover unexpected medical costs.
If you are interested in getting an indemnity policy, talking with Insurance For Texans is a great place to start. As an independent insurance agency, we have a lot of solutions at the ready.
We can help you find a policy that meets your needs and budget.
We are Texans. We have families. We have health insurance.
Get in touch. We'll treat you like we would want you to treat us.
That way, we continue to uncover what makes the Lone Star State stand alone as the best in the union.
Stay true, Texas.
Ron Wadley is an owner and General Solver of Problems for Insurance For Texans. Ron is a resident of North-East Tarrant County in the Dallas-Ft Worth area. He loves riding his many bikes and watching his Baylor Bears play football and basketball. Send him your insurance questions at ron@insurancefortexans.com.