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If you’re like most Americans, your
primary health insurance doesn’t cover everything. Whether
you make co-pays for prescriptions, pay out-of-pocket for
vision and dental expenses, have to come up with the cash
for services not covered by Medicare or your insurance plan,
it can quickly add up.
Supplemental health insurance is designed to help defray
these kinds of expenses that aren’t usually covered by major
medical insurance plans. A variety of supplemental health
insurance plans are available so that you can customize your
healthcare coverage and bridge the gaps between your actual
medical bills and the amount your insurance covers.
Why you might need
supplemental coverage
Not everyone needs
supplemental insurance. If you’re a healthy individual whose
primary health insurance plan covers all or most
health-related bills and who already has disability
coverage, you may not benefit from buying supplemental
insurance.
On the other hand, if your
primary insurance requires you to pay high yearly
deductibles, make expensive co-pays, or places low caps on
the amount it covers for certain services and products, you
should consider supplemental health insurance. Additionally,
you may want to look into purchasing supplemental insurance
if:
- You lack
disability coverage, which would pay your bills and lost
wages if you were to be injured off the job or became
chronically ill. (Many employers have insurance for
on-the-job injuries and short-term disability leaves.)
- You are at a
high risk for developing cancer, heart disease or other
serious illnesses that would require expensive medical
treatment.
- You belong to
an HMO or other managed plan that won’t cover
out-of-network services or certain procedures, such as
experimental cancer treatments.
- You don’t
have an emergency fund that would cover at least three
months of living costs.
- You want to
protect the savings and assets you have.
Types of supplemental
insurance
Not every insurance provider
offers every kind of supplemental health insurance. But
these are some of the major kinds of policies available
through eSupplemental.com:
- Supplemental Health Plan (included benefits
for hospitalization, doctors visits, surgeries and
more).
- Supplemental Cancer Insurance
(included benefits for surgery, hospitalization,
radiation, chemotherapy preventative care and much
more).
-
Accident Indemnity Insurance (pays
medical expenses and living costs when you get hurt
unexpectedly).
-
Disability Insurance (pays benefits
for time lost from work due to illness or injury).
-
Heart/Stroke Insurance (pays benefits for treatment
needed as result of having a heart attack or stroke)
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