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The Roll-Over Deductible

The Best End of the Year Health Insurance Options: Rollover Your Deductible Like You Rollover Your Minutes

Hi, I'm Caroline, Here To Help You With Your Health Insurance Questions

Hi, I'm Caroline, Here To Help You With Your Health Insurance Questions

Around this time of the year there are many individuals and families who are looking to start addressing their New Year’s resolutions; one of them usually being to either get health insurance or to lower their health insurance premiums.  But most individual and family health insurance policies have calendar year deductibles – meaning if you get a health insurance plan effective November 1st and were to “use any of your minutes or deductible” so to speak then you would have to start all over come January 1st!

Here’s my completely free and no obligation required tip, most but not all health insurance plans have this inherent trait.  AvMed offers a rollover or “carry-over” deductible that essentially offers anything accumulated towards your calendar year deductible during the last three months of the year will…that’s right, CARRY OVER or ROLL OVER to your next calendar year deductible.

I had previously mentioned my own personal experience that although personally annoying in my own life, works as a perfect illustration of what I am alluding to in this article.  On a not so cold winter night in Boca Raton, December 14, 2007 to be exact, and the day before my twin sister’s wedding no less, I was admitted to the emergency room at Boca Community Hospital.  I had a not so fun 6 hours of poking, prodding and the seemingly never-ending testing.  All of this, only to find out that my kidney infection was gone and the ovarian cyst they suspected from one of the x-rays was in fact never really there and ultimately I got a clean bill of health.  By no means am I complaining, but what did kind of suck (please excuse my language) was the fact that the $1900 and some dollars I was billed and that would go towards my $5000 calendar year deductible would have brought the remainder of my $5000 deductible to $3100.00 – THAT IS, IF I HAD THIS OH SO WONDERFUL BENEFIT of the rollover deductible.  But of course, I did not, so it was more like my rent instead of a mortgage payment.  Flushed right down the toilet…I had the Aetna POS OA 5000 plan and although I did of course experience excellent service and benefits and was able to reap the benefits of Aetna’s contracted rates (the billed amount was over $6000 and the allowable or negotiated fee that I owed was $1900) it would have been a lot nicer if I had the added benefit of knowing that it was going towards my deductible instead of nowhere.

So as we procrastinators look to obtain some good health insurance coverage these last months of the year, do not be upset with the fact that any bills you end up being responsible to pay due to the medical services that were rendered to you seem like another rent payment that you didn’t see coming.  That is of course, unless you were to go with AvMed or Humana who both offer this nice little 3 month carry over deductible benefit. I should note however, that Humana also imposes a 3 month waiting period on your preventive care services – so between the two you’re better off with AvMed on an overall basis.  And Coventry doesn’t offer the rollover deductible, but does offer the POLICY YEAR DEDUCTIBLE instead of the usual CALENDAR YEAR DEDUCTIBLE.  So if you start your policy effective December 1st of this year – that’s right folks, any payments towards your deductible are mortgage payments through next December and no rate increases until that same time..very nice.  So although the initial premium may be slightly higher than some of their competitors, you may find it worth it to pay a little more now for some peace of mind in knowing that if anything were to happen to you during the end of the year you won’t be tempted to hold off on getting it checked out until the next calendar year deductible period and God forbid find yourself with a burst appendix.

In short, besides having many other benefits and advantages as all of these insurance carriers often have in comparison to one another, just for this limited time much like a dealership’s end of the year sale, AvMed and Coventry are my top two picks.

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