Supplemental health insurance plans are plans that work in conjunction with your preexisting insurance coverage. They are not intended to stand alone as complete coverage; therefore, not everyone needs supplemental insurance. However, it can help in a number of ways, and it is important to understand and compare your insurance plan against your needs in order to decide whether or not you need supplemental health insurance.
Supplemental insurance policies can help pay for deductibles and co-pays that your regular insurance doesn’t cover. Usually you will pay a monthly premium for insurance meant to cover leftover payments that accrue from gaps in your ordinary coverage. This is often necessary if someone on your plan is undergoing a long-term treatment regimen.
If a serious illness falls upon you or your family, medical costs can go through the roof. There are often unexpected expenses such as loss of income, travel expenses, private nurses and childcare that can accumulate and cause real economic burdens in addition to the cost of treatment and recovery.
There are many options for supplemental insurance. Hospital indemnity insurance can provide benefits that will help cover special cases such as emergency hospital stays and outpatient care. Fixed benefit plans will pay a set cash payment to you or your health care provider for many out of pocket costs that may include hospital admissions, surgery, x-rays, office visits, preventative services such as physicals and checkups, off-the-job accidents, and prescription drugs. However, many of these services are capped at a maximum number of payments, so it’s important to understand all of the limits.
Short-term health insurance is a more customizable option for supplemental insurance that can cover you for a set amount of time. They can be very convenient and cost effective. However, you can be denied for preexisting conditions and other reasons.
If you or a family member is undergoing a serious illness, or your current health insurance provider is not supplying the coverage you need, call McKnight & McKnight Insurance for any insurance solutions! Through a convenient telephone appointment from the comfort of your home our expert agents can discuss your needs in order to find the perfect supplemental coverage for you and your family. If you have any questions feel free to contact us at (813) 792-2301