Would You Like Some Insurance With Your Insurance?

A screenshot from a video touting a gap plan called “Premium Saver.”

Screenshot by NPR/Crema Design Studio


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Screenshot by NPR/Crema Design Studio

A screenshot from a video touting a gap plan called “Premium Saver.”

Screenshot by NPR/Crema Design Studio

For the first time in her life, 26-year-old freelance designer Susannah Lohr had to shop for health insurance this year.

She called up a major insurer in the St. Louis area where she lives, and it offered her a plan with a hefty $6,000 deductible — that’s the amount she would have to cover herself before the insurance kicks in.

When she balked, the salesman on the phone suggested that she could buy a “gap plan,” a separate policy for $50 a month to cover her deductible.

“After I got off the phone with him, I realized: That’s actually just insurance for my insurance,” she said, laughing.

Gap plans, used to cover out-of-pocket expenses like high deductibles, are becoming increasingly popular among consumers and businesses.

The rising price of insurance is driving the trend, explains insurance broker Ryan Hillenbrand, president of the Missouri Association of Health Underwriters.

“People see the prices of individual insurance and they say, ‘Boy, a $6,000 deductible seems really high. I don’t want something that gives

Article source: http://www.npr.org/sections/health-shots/2016/09/13/493695824/would-you-like-some-insurance-with-your-insurance?utm_medium=RSS&utm_campaign=affordablecareact

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