Owner/Agent, Pelfrey Financial Services, Lexington, KY
An individual can have two health insurance plans at once, but they probably won't receive any additional benefits. The most common time this occurs is when a person is covered with their own employer's insurance and also covered by their spouse's policy. In this case, the insurance with their own employer would considered primary and the spouse's policy would pay little to nothing.
Another instance may be a person that retires from the military and gets insurance through their new employer. The individual would need to speak to the veteran's affairs office for details on this situation.
The final way a person may have two insurance plans is when they are covered by Medicare and a secondary insurance such as a Medicare Advantage plan. In this example, Medicare would be the primary insurance and pay approximately 80% of medical costs. The secondary insurance would then go into effect and cover the remaining 20% according to the rules of the individual policy.
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Another instance may be a person that retires from the military and gets insurance through their new employer. The individual would need to speak to the veteran's affairs office for details on this situation.
The final way a person may have two insurance plans is when they are covered by Medicare and a secondary insurance such as a Medicare Advantage plan. In this example, Medicare would be the primary insurance and pay approximately 80% of medical costs. The secondary insurance would then go into effect and cover the remaining 20% according to the rules of the individual policy.