Most likely, you already have health insurance to help you pay for your medical care. But as you know, copays, coinsurance, and deductibles are all expenses you may still be responsible for paying. Depending on your health insurance plan and the kind of care you need, those costs can add up to a significant amount.
That’s where supplemental health insurance comes in. Like its name implies, supplemental health insurance is meant to supplement, or be used in addition to, your primary health insurance.
Supplemental health insurance plans are designed to help pay for some of the healthcare costs your primary plan does not cover, including copayments, coinsurance, and deductibles.1
Many different types of supplemental health insurance are available, and it’s your choice whether you want to purchase any of them or not. According to thebalance.com, whether you should purchase supplemental health insurance depends on your risk factors and how much insurance you want or what you want to be insured for. As these plans are optional, you decide whether the benefits they provide are worth what you’ll pay in premiums.2 The benefits offered and amounts of the benefits vary by plan and provider.
Options often include:
- Dental care
- Critical illness
- Long-term care1
- Supplemental Travel Insurance
- Medicare or Medicaid supplement plans
- Hospital Indemnity Insurance2
If you’re thinking about buying supplemental health insurance, verywellhealth.com suggests making several considerations first, including whether your health plan would cover treatment costs associated with an accident or serious illness, if you could cover out-of-pocket costs if you were sick/out of work for an extended period of time, and if it’s likely you or a family member would be in an accident or get a major illness.3
So if you’re considering supplemental health insurance, make sure you examine your own health and financial circumstances before you decide if it’s right for you. Seek out a financial advisor or contact your state’s insurance commissioner/department of insurance if you have any questions about coverage, and if you decide to buy, contact an independent broker or licensed insurance agent.
Your style is your choice. Shouldn't your doctor and your coverage be, too?
Coverage of your choice with doctors of your choice are included with plans that don't restrict you to networks of specialists.
1 HealthMarkets, Ways secondary health insurance can help, 2019
2 The Balance, The basics of a supplemental health insurance plan, 2019
3 Very Well Health, Should you buy supplemental health insurance?, 2019
The purpose of this communication is the solicitation of insurance. United American Insurance Company is not connected with, endorsed by, or sponsored by the U.S. government, federal Medicare program, Social Security Administration, or the Department of Health and Human Services. Policies and benefits may vary by state and have some limitations and exclusions. Individual Medicare Supplement insurance policy forms MSA10, MSB10, MSC10, MSD10, MSF10, MSHDF10, MSG10, MSHDG, MSK06R, MSL06R, MSN10 and in WI, MC4810 and MC4810HD, MC4810HDG are available from our Company where state-approved. Some states require these plans be available to persons under age 65 eligible for Medicare due to disability or End Stage Renal disease (ESRD). You may be contacted by an agent or producer representing United American Insurance Company, PO Box 8080, McKinney, TX 75070-8080. OUTLINE OF COVERAGE PROVIDED UPON REQUEST.
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