Most of us know the importance of having some form of health insurance. Health insurance helps cover medical and surgical expenses and can also take care of other healthcare costs like check-ups, prescription medication, or emergency room visits.
What you might not know is that supplemental health insurance provides extra coverage to fill in any gaps in your plan. This can include dental, vision, or critical illness expenses and may help with out-of-pocket costs like copayments or deductibles. Understanding the financial benefits of supplemental insurance can help you build a health insurance plan that fits your individual needs and keeps money in your pocket.
Understanding Supplemental Health Insurance
There are a variety of supplemental health insurance options available including:
- Dental – This will add coverage for your routine dental care, such as cleanings, x-rays, fillings, and can include more extensive procedures like root canals or orthodontics.
- Vision – Adding this will provide routine vision care such as eye exams, glasses or contact lenses, and potentially corrective procedures.
- Critical Illness – If you are diagnosed with a serious illness such as cancer or experience a heart attack or stroke, this additional coverage would provide a lump sum payment to assist with expenses.
- Accident Insurance – In the event of an accident, this additional coverage could assist with expenses such as emergency treatments, hospital stays, or recovery costs.
While primary insurance is your main plan that pays first on any claims you have, your secondary insurance kicks in to pick up the additional expenses that are not covered by your primary plan. Investing in secondary insurance options can protect you from surprise expenses in a variety of different scenarios and keep your financial obligations predictable and manageable.
Financial Benefits of Supplemental Health Insurance
Expenses such as deductibles, copayments, and coinsurance can add up quickly if you don’t have a plan in place. Supplemental insurance can be a huge asset when looking at these expenses. Utilizing supplemental health insurance can also assist with routine care, emergency services, and specialized treatments.
Choosing the Right Supplemental Health Insurance Plan
When choosing the right supplemental health insurance, looking at your personal health history is a good place to start. Consider any chronic conditions, previous surgeries or medical needs. Review your family history and factor in any hereditary conditions that may require future care. Your lifestyle is also important if you tend to engage in high risk activities or sports.
After taking inventory of your own personal healthcare needs, compare plans and providers to find supplemental insurance that will be a good fit for you. Make sure to compare multiple plans, there are often online tools you can use to review comparisons of coverage, costs, and customer reviews. Also read the fine print! Pay close attention to any listed exclusions or limitations and be aware of any waiting periods so that you know when you will be officially covered.
Tying Your Plans Together
Ultimately, you want your primary insurance and your supplemental insurance plans to work together in order to meet your needs. Your supplemental plans should complement your primary plan, filling in any gaps. Regularly review and adjust your plans to make sure you have the coverage you need. Understand and utilize any preventative care services provided by both your plans so you can stay ahead of any medical concerns. To get the most out of your plans, work with a trusted insurance agent who can provide expert advice on integrating your insurance plans effectively and keep you on your feet with extra money in your pockets.
Supplemental Health Insurance with Ianniello Insurance Agency
At Ianniello Insurance Agency, we offer a variety of supplemental health insurance options including:
- Medicare Supplemental Insurance
- Recovery Care Insurance
- Group Health Care
- Cancer Insurance
- Limited Medical Insurance
Learn more about these options here. Ready to discuss your health insurance plan together to see what supplemental insurance could be right for you? Contact us today!