There's Help for Your Unexpected Deductibles

How Can I Afford This?!

A Critical Illness plan pays cash to you and helps give you financial flexibility when you’re facing an illness that’s covered by the policy.

High deductible health plans are a popular choice, thanks to attractive monthly premiums. They can make good sense, especially when either you typically use little medical care each year OR are suddenly a high user during a single year. 

Either way—when you need care—you face sizeable bills before insurance kicks in. While most high deductible plans are health savings account (HSA) qualified…the reality is you may be behind in funding a tax-advantaged savings account to handle costs.

What then?

Many look to costly credit cards or loans from retirement plans. Mercer Indigo offers you another option, especially for a major medical need like a cancer diagnosis, heart attack, stroke, or organ transplant.

Enter Cash Benefit Plans

Fixed cash benefit health plans have been around a long time. They are not designed to be stand-alone health plans, but supplements to major medical coverage. 

While many are “hospitalization only” plans, today more modern supplements are available, especially for expenses around critical illnesses that strike suddenly and result in large expenses.

Helps Stabilize Your Finances

Today’s Critical Illness supplements offer several advantages, including:

• Premiums are often more affordable. Although premiums vary according to coverage, they are generally not anywhere near what a major medical plan is.
• Plans pay a lump sum of cash upon diagnosis. Use the money however you want; there’s no restrictions.
• Helps avoid the costs of medical financing. Generous payouts mean you have cash at hand, so you’re better able to finance a covered illnesses’ costs.
• Pays tax-free cash benefits. Your tax status and eligibility for marketplace credits won’t change.
• Adds peace of mind. If you’re behind in self-funding your deductibles and co-pays, a Critical Illness plan offers a way to immediately pay for expenses for covered illnesses.

Know The Limitations

There are two:

1. You can’t get coverage for pre-existing conditions. That’s why—if you want coverage—don’t wait. You may not be able to buy a policy at any price.
2. It pays cash benefits only for those conditions named in your policy. Remember this is a supplement, not a replacement, to your major medical plan.

Like life insurance, it’s true you may never use a critical illness plan. But if you do, it can certainly make life much easier in a difficult time. 

Where To Find Quality Plans

Mercer Indigo gives you one-stop shopping for trusted critical illness plans. Indigo works with partners and carriers to find plans that make the most sense for you. You’ll have a wide range of choices, including plans that pay up to as much as $100,000 in cash benefits.