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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Supplemental health insurance for HSA

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If in doubt, please send a new question or ask for an update.

Q: I am looking for something to supplement my other health insurance until the deductible for my family coverage is met. I need something that will cover prescription costs as well. Does this policy help with prescription cost? I have a $4800.00 yearly deductible that has to be met and then my insurance covers 100%. Is this a policy that can help me with meeting the deductible?

A: Check Basic Health Insurance, Value Health and Value Med. These supplemental policies can be used separately or in combination for even more insurance coverage. All of these insurance plans are 'allowable other coverage' when used with a Health Savings Account*. None of these supplemental policies cover prescriptions so you may wish to take a separate free prescription drug discount card to lower out-of-pocket costs. *Note that supplemental insurance plans are not 'qualifying high deductible health plans' as required for health savings accounts. In other words, supplemental insurance can be used in addition to, but not in place of, a qualifying insurance plan under HSA laws.


More resources:
Basic Health Insurance Value Health Insurance Value Med Insurance free prescription drug card