Health insurance policy to cover your deductible?

Is this a thing? Sort of a supplemental? My wife's work provides us both with health insurance but it has a higher deductible. I'm wondering if a, do they exist, and b, are they cost effective? My wife is going to have a procedure done and it would be nice to not have to scrape together the whole deductible at once. I suppose this is where putting into the HSA would come in handy but I don't understand all that well enough either.

I'll be talking to an agent later today but it's to early night now.

Thanks!

No, what you are really asking about doesn't really exist and you are on the right track with the HSA. The intent of HDHPs (high deductible health plans) is that you are are able to put aside pre-tax dollars in an HSA to cover your deductible and other qualifying medical expenses. The HDHP and HSA are meant to work together and are often linked benefits at employers, some even automatically make small HSA contributions on behalf of their employees or offer matches.

There are some supplemental "accident", "critical illness" and "hospital indemnity" type plans that pay you in the event of certain events that are being heavily marketed these days as well. I do not know a whole lot about those other than they are not medical plans, and are hugely profitable to insurance companies and selling agents.

FWIW we ended up with multiple plans, as many as 3 for some of the kids at one point. Whichever was primary would pay to their limit, minus deductible, then whichever was secondary would do the same, and finally the tertiary policy would(often) pay any remainder, minus their deductible.

Yeah, HSAs are a good bet. Don't go with a healthcare Flexible Spending Account (FSA) if you can avoid it because those dollars are "use it or lose it" in a given calendar year. HSAs are taken out pre-tax and just accumulate and roll over from year to year.

So basically, every dollar spent from an HSA is equivalent to a discount of whatever your effective tax rate is. Some even let you invest the accumulated money in various plans.

There are secondary providers & such, just be prepared for a E36 M3 show with the billing department of wherever you get treated at.