Supplementary health insurance is a type of insurance designed to cover the gaps that your regular health insurance might be due to the deductibles and co-payments. Supplementary health insurance covers additional expenses that your primary insurance does not cover, such as lost income and living expenses. Those who should consider supplementary health insurance are the self-employed, families with children, those who are financially unprepared to handle large medical bills, or free from work due to illness or injury, and those on Medicare.
Benefits of a supplementary health insurance
Some of the benefits of a supplementary health insurance policy include cash benefits, lower costs due to lower benefit amounts, the ability to compensate for lost income as opposed to a traditional health insurance policy, and often pay for already existing conditions. The most common type of complementary policy is for those who are covered by Medicare who do not cover long-term healthcare, home care, nursing homes, or prescription drugs. Many seniors choose to wear a Medicare supplement in addition to long-term care insurance that protects their financial security. Unfortunately, these two additional insurance policies can run up to $ 4,000 annually.
For many people, supplementary health insurance pictures of an unpleasant duck are pounding “AFLAC!”, But there are many other insurance companies offering a true roofing board of supplementary health insurance policy. While a plan such as AFLAC provides a cash benefit to those without work due to illness or injury, other plans provide cash benefits for a number of specific reasons.
Hospital reimbursement plans
In addition to hospital reimbursement plans, which provide solid cash benefits for benefits covered, including hospital stays for emergencies and outpatient care, there are basic supplementary medical plans that provide permanent benefits to cover preventive medical care. For those concerned about cancer, there are supplemental cancer insurance plans that provide direct cash to the policyholder for cancer treatment and associated expenses. For situations where a critical condition or illness, there are policies that provide lump sum benefits to pay out of pocket expenses for heart attack, stroke, heart surgery, cancer and other diseases.
The statistics show that being unexpectedly disabled can be financially damaging to any family. Disability income helps protect against sudden lost income by offering a monthly benefit to help pay the bills. Long-term care insurance scheme helps policyholders deal with the high cost of long-term care, including care homes, medical home care, adult day care, and so on. With the cost of regular healthcare spiral ever higher for all, self-employed, supplementary health insurance is particularly becoming a must have for anyone who wants to stay physically and financially healthy.