A buy-up is a type of rebate associated with home mortgage loans. It involves the lender offering an upfront cash incentive to the borrower in exchange for accepting a higher interest rate on the loan.

The term “buy-up” might sound like a mystery purchase option carried out by the insurer, but it is describing the action of covered individuals when switching to, or adding coverage to existing medical plans for increased value and usability. This is a process that normally results in a better health insurance experience for the consumer.