Can Supplemental Health Insurance Improve Your Coverage?

Are you noticing medical costs that aren’t covered in full by your health insurance coverage? If they are turning into costly out-of-pocket expenses, don’t get frustrated. Supplemental insurance plans are designed to help cover what health insurance doesn’t.

What does supplemental insurance do?

Supplemental policies work similarly to your regular health insurance. When you pay a set monthly premium, the insurance company agrees to provide you with benefits. However, the benefit process is different. Instead of paying hospitals and doctors, supplemental insurance plans pay you! Many plan’s benefits can even be used like cash. They can help cover your medical expenses, plus things like lost wages or transportation.

If you are ill or injured, some supplemental plans work to cover what your regular health insurance can’t. For example, you may be ill and require time in the hospital. An insurance company will cover a certain percentage of your stay, and you are responsible for the rest of the hospital charges. The coverage you select with a supplemental plan could cover the rest of that hospital bill.

What are the types of supplemental insurance plans?

Supplemental insurance comes in many different categories. Each of these is specific to your anticipated coverage needs:

• Accident
• Critical Illness and Cancer
• Hospital Confinement
• Disability
• Long-Term Care
• Life

Each category allows you to choose a coverage level, which affects your monthly premium and the benefit amount you can receive. If you have a family medical history that involves life threatening ailments, a supplemental insurance policy may save you or your family thousands in out-of-pocket expenses.

How much money could you save?

By purchasing a supplemental insurance plan, you could save thousands on broken bones, extended hospital stays, or rehabilitation. With a supplemental insurance policy, you can both cover the left-over costs from your current health insurance coverage and help cover other expenses that may come at the same time from an unexpected ailment.

If you would like to discuss your supplemental insurance options with a licensed insurance agent, call (800) 827-9990 today. Or you can find a local agent and set up a one-on-one appointment.