Sometimes even if you have health insurance, it doesn’t cover all of your medical bills. When that happens you’re stuck with a huge payment in addition to your deductible. And your situation can be worse if your medical issue keeps you out of work for awhile. Supplemental insurance can help you avoid this by paying medical expenses that your existing medical insurance does not.
How it Works
Supplemental coverage is insurance that supplements an existing policy. It pays medical costs that your health insurance doesn’t cover. It’s like an insurance safety net.
Anyone can benefit from this type of coverage. But usually, people who benefit the most are self-employed individuals and people who work in high risk occupations – such as construction workers.
Policies
There are several types of supplemental policies. For instance, you can get accident insurance that will pay if you are injured in an accident and unable to work. Critical illness insurance pays you if you are diagnosed with an illness covered by the policy, such as cancer. Some supplemental policies are specifically for senior citizens on Medicare.
Major benefits
Supplemental insurance helps with medical expenses. Worrying about paying medical bills causes stress. With supplemental coverage, you get help to pay the medical expenses you would otherwise have to pay out of pocket.