Do I need a companion?

What is a companion plan?

  • In addition to your health insurance plan that will help offset your costs of deductibles, co-pays that kind of thing.
  • Accident insurance will help do that for just the accidents only. But sometimes you’ll have an illness or something that’s not considered an accident. And the accident policy doesn’t help you.
  • That is where companion insurance can come in.

Companion insurance is a plan specifically designed to pay you a certain amount to help cover your deductible, no matter what the instance is.

There are different ways we can do this:

  • We can put an indemnity plan in place that will give you certain amounts. (There are some different options available depending on your comfort level.)
  • This can be great if you have a high deductible plan, and want to save money by getting a high deductible plan. If your budget allows, we can certainly do a gap or companion plan
  • If you’re worried about having a hospitalization, o putting a companion plan in place can offset any out-of-pocket costs you have.
  • They’re not always a fit for everyone due to cost. Because they can be very expensive.
    • Depending on what benefits we include, they start to get a little more costly.
    • But if I can save you money on health insurance, and you already had something budgeted for your health insurance, and we’re not having to use all that money, then yes, of course, you can pocket the savings. But if you want to get a little more insurance and more coverage, where it gives you peace of mind, and if something major or big happens, you’re not going to be out of pocket a lot of money, you could do a companion or gap plan.

If you have questions about anything health insurance-related, please feel free to reach out to me. 

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(512) 827-8117


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Austin, Texas

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