What is Supplemental Insurance?
Supplemental insurance is additional coverage that helps pay for healthcare costs not covered by your primary insurance plan. It can include policies for dental, vision, critical illness, hospital stays, accident coverage, and more. These plans provide financial support for out-of-pocket expenses such as copayments, deductibles, and non-medical costs related to an illness or injury.
Why Do You Need It?
Even with comprehensive health insurance, unexpected medical expenses can add up quickly. Supplemental insurance offers an extra layer of financial protection, helping you manage costs not included in your primary plan. It can be especially valuable in the event of a serious illness, accident, or hospitalization, where out-of-pocket expenses could disrupt your financial stability.
Questions to Ask Your Agent
Before purchasing supplemental insurance, ask your agent about the types of coverage available and how they align with your current health plan.
Inquire about:
- What are premium costs?
- What are the benefit limits?
- Any exclusions?
- How do you claim procedures?
- How are payments made?
- Is the plan is portable if you change jobs or insurance providers?
