Supplemental Insurance: United Commercial Travelers (UCT) Product Overview

Due to the unstable market, health insurance companies are either exiting the market or raising rates. With health insurance becoming increasingly unaffordable, consumers are paying the ultimate price – literally. To help stem the rising costs, consumers should turn to supplemental plans to help cover their out-of-pocket exposure. Instead of choosing a gold or platinum plan with higher premiums because it’s better coverage, consumers should opt for the cheaper bronze plan. Though a bronze plan has a higher deductible, it has a lower premium. Then, consumers can simply purchase a supplement to cover the deductible. In the end, this package provides more comprehensive coverage than a more expensive qualified health plan.

An excellent supplemental plan choice that consumers should definitely consider is United Commercial Travelers (UCT). They have some of the best dental and accident plans on the market. Take Jeff Hess’, Individual Health Specialist, word for it – UCT is a great company.

UCT Dental Plan

Their dental, vision, and hearing plan is second to none. It’s an indemnity style plan, meaning you can use any provider that you want. Whether the provider takes insurance or not, the plan will reimburse you regardless. Moreover, this type of plan has benefit increases. To explain, UCT will cover 60% of all covered items the first year. For the second year, they’ll then cover 70%, and for the third year, it increases to 80%. By the fourth year and beyond, UCT covers 90%. By far, this is the best dental, vision, and hearing plan on the market.

UCT Accident Plan

In addition to having the best accident plan, UCT also has an excellent accident plan. Their accident plans have a lump sum pay-out structure. So, you can have a plan that pays out anywhere between $1,000 to $25,000. Even better, UCT accident plans do not coordinate benefits. Coordinating benefits means that the accident plan only covers the gaps you have with your qualified plan. In other words, if your qualified health plan has a $2,000 deductible with a $5,000 max out-of-pocket, then that is all most accident plans will pay, even if you have a $25,000 benefit. With UCT, however, you actually get the full lump sum. So if your benefit is $25,000, then you get $25,000 if your medical bills are up to $25,000 or more.

Another benefit in having a UCT accident plan versus another accident plan is coverage for organized sports and dangerous occupations. Most accident plans will preclude coverage to individuals who get hurt while playing sports; additionally, if someone gets hurt while working on a drill rig, in the rodeo, or any other hazardous occupation, then the plan won’t pay out. UCT, however, pays out regardless so you can continue playing sports and working in your field of choice. Bottom line: if you’re looking to get an accident plan, then talk to your agent about UCT.

Since insurance is oftentimes overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions.  So if you have any questions or concerns, comment below and your question may be the topic of our next video!

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