GLENVIEW, Ill., Nov. 10, 2016 /PRNewswire/ -- Combined Insurance, a leading provider of individual and group supplemental accident, disability, health, and life insurance products, and a Chubb company, educates consumers about coverage gaps and out-of-pocket expenses associated with health coverage during Open Enrollment and encourages consumers to understand the value of supplemental insurance. Open enrollment is a time when millions of Americans make important health insurance decisions and can make changes in the plans they choose for the coming year.
For those enrolled in a plan through their employer or a state or federal Affordable Care Act marketplace exchange, this year's Open Enrollment is November 1 through January 31. Chris Martin, President of Combined Worksite Solutions and Chubb Workplace Benefits explains, "This Open Enrollment period is a unique time for individuals and families, as more employers are offering voluntary benefits to cover the out-of-pocket costs of health insurance and medical expenses. We want to take the time to educate consumers on how supplemental insurance can fit into the insurance plans they choose during this enrollment period." Regardless of whether an individual has major medical insurance through his or her employer or through an ACA exchange, gaps in coverage may still exist. And, health care co-pays, deductibles, and co-insurance out-of-pocket expenses can add up quickly. According to a Kaiser Family Foundation and New York Times survey, one in five Americans with health insurance will struggle to pay medical bills in 2016. "Supplemental insurance is really just a separate insurance plan that adds to or 'supplements' the health coverage individuals and families might already have. It provides extra protection to the insured when it's needed most," said Martin.