Is It Legal to Have Two Health Insurance Plans?
Having two health insurance plans is legal and, in some cases, very beneficial. While most people have only one health insurance plan, some have multiple plans that provide coverage under certain conditions.
There are several scenarios in which you may have two health insurance plans. For example, if you are aged 26 or under and you have health insurance through your parents and they each have their own policy, you may be able to file under both when you obtain medical services. If you and your spouse both have employer-based health insurance, you may be covered by your plan and listed as a dependent on theirs. If you meet income requirements, you may be eligible to supplement your employer plan with Medicaid.
How Do Two Health Insurance Plans Work Together?
While it would be nice if you got double reimbursements for all your medical bills, that is not what happens when you have more than one health insurance policy. Instead, one plan is considered your primary health insurance, and the other is considered secondary coverage. Your primary health insurance covers services first up to the policy limits. After your primary health insurance has paid, your secondary insurance may cover some or all the remaining bills. Depending on your policy limits and the ability of the provider to “coordinate benefits”, you may still be responsible for some costs.
Does Carrying Two Health Insurance Plans Protect You from Out-of-Pocket Medical Expenses?
If you have two health insurance plans, you may still have to pay some medical costs. First of all, you may have to pay premiums and deductibles for both plans. You may also still owe money for copays and coinsurance.
It is also important to remember that rules related to in-network and out-of-network health care providers still apply. Additionally, your plans may have different exclusions, meaning that even if a given service is covered by one of your plans, the other plan may not pay for it.
The Benefits and Drawbacks of Carrying Two Health Insurance Plans
The benefits of carrying two health insurance plans include:
- A way to maximize your benefits and potentially reduce out-of-pocket costs
- You do not have to worry about being uninsured or underinsured
- If plans are structured very differently from one another, you may be able to save a significant amount of money
The drawbacks of having two health insurance plans include:
- You may still have some out-of-pocket medical expenses
- Two plans can mean two sets of premiums and deductibles
- You may have to deal with two health insurance providers, which can be confusing and lead to costly mistakes
Finding Comprehensive Health Insurance Coverage with Nevada Insurance Enrollment
Navigating the world of health insurance can be tricky, but it gets especially confusing when more than one plan is involved. At Nevada Insurance Enrollment, we have licensed health insurance agents who can help you understand how multiple health insurance plans work together to save you money on medical expenses.
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