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MedCASH can bring peace of mind

December 10, 2012

By Kelly Soderlund

Dr. Paumier
Peace of mind can be priceless.

But in the case of protecting yourself and your family with an ADA-sponsored member insurance plan, the price isn't that high. MedCASH coverage pays cash benefits directly to a participating dentist or their family member who is in the hospital or faced with a critical medical condition. This can be less than $16 per year with the ADA-sponsored coverage underwritten through Great-West Financial.

“It's up to the insured how they want to use the money paid to them directly from the MedCASH plan. They can apply it to cover deductibles, copays or other costs not covered by their primary health insurance; pay for prescriptions and over-the-counter medications; or cover household bills,” said Dr. Thomas M. Paumier, chair of the ADA Council on Members Insurance and Retirement Programs.

Dentists confined to a hospital because of an accident or illness can receive a hospital coverage daily benefit of $100, $300 or $500 (whichever they choose at enrollment) for each day of their stay, up to 500 consecutive days in most cases. The 100 percent daily benefit is also available for outpatient surgery, such as a colonoscopy. Fifty percent of the hospital cash benefit is available for up to 25 cancer treatments (chemotherapy or radiation), up to five emergency room visits and up to 10 days in the hospital because of pregnancy or childbirth.

The basic MedCASH plan also includes a critical conditions benefit if an insured is diagnosed with one of 17 qualified medical conditions, such as stroke, cancer or cardiac arrest. This benefit pays up to 10 times the daily hospital coverage amount—$1,000, $3,000 or $5,000 in one lump sum.

Members interested in higher coverage limits can apply for the MedCASH 100 plan that yields up to 100 times the hospital coverage daily benefit. For example, a $500 daily hospital benefit would provide $50,000 in a lump sum for first diagnosis of a critical medical condition.

And again, it's affordable. For example, a 50-year-old dentist who elects the basic hospital coverage with a $500 daily benefit is looking at $200 per year. Opt for the MedCASH 100 plan and the premium is $730 per year with a $500 daily benefit and $50,000 of critical condition coverage.

“It's really an exceptional member value. For the price of dining out, members can have the peace of mind of added insurance protection to guard against the high cost of medical care,” said Dr. Robert A. Coleman, CMIRP vice chair.

Coverage is available for all ADA members under the age of 60. Members can also apply for coverage for their spouse or domestic partner, if under age 60, and dependent children under the age of 21 or 27 if they're a full-time student. The hospital coverage is renewable to age 90 and critical condition coverage can be renewed to age 65.

Acceptance for basic MedCASH coverage is guaranteed. Those interested in the MedCASH 100 plan will need to complete a brief medical questionnaire but do not have to submit to a paramedical exam.

“The Council on Members Insurance and Retirement Plans encourages member dentists to take advantage of the valuable ADA benefits of membership including the ADA-sponsored MedCASH plan and life and disability products,” Dr. Paumier said.