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You may have heard of supplemental insurance but not felt clear about what it is, or whether you need it. You may have heard the term "Medicare supplement" and thought that supplemental insurance is only for Medicare recipients. Or you may have questions about exactly how supplemental insurance fits into your financial and healthcare needs.
Supplemental insurance is exactly what it sounds like: Insurance that pays over and above what your primary insurance policy covers. It is not intended to replace the insurance you have now. Rather, it is intended to provide coverage for expenses not included in your existing insurance plan.
You can think of supplemental insurance as picking up the tab for the expenses that you would normally pay out of pocket. These policies might pay your deductible, for instance. You may also buy supplemental insurance to cover hospitalization or intensive care costs that your insurance does not cover.
Cancer policies are a popular form of supplemental insurance, as are accident and accidental death policies. These policies cover the additional hospitalization and doctor expenses over the spending cap of many traditional policies.
In deciding whether you need supplemental insurance, consider the coverage you already have, as well as your financial circumstances. If your policy has limitations, as most do, you may want to consider speaking with an agent about the supplemental insurance coverage available to you.
Most of us cannot afford to become catastrophically ill or suffer a life-threatening or fatal accident. While our insurance policies cover most of our normal medical needs, chances are they would not cover all of a major illness or injury.
If you don't know what your current insurance covers, find out, and consider how you would handle an injury or illness that "maxed out" your insurance. If you have any doubt about your ability to financially weather a medical disaster, you probably do need supplemental insurance.
Supplemental insurance may be likened to wearing a belt and suspenders. Most of the time your current coverage will meet all of your needs, but when it does not, supplemental insurance will make things easier for you.
What else can I help you with?
Is getting supplemental insurance a good idea?
Whether or not you need supplemental insurance depends upon your individual situation. Does the coverage your job provides give enough of a benefit should you need it? If not, than supplemental insurance would be a good idea.
Why do you need supplemental health insurance?
You need supplemental health insurance because it is a more specific plan of health insurance where monetary denominations are given for procedures rather than generic. They are also easier to understand, stable and more affordable.
What types of supplemental insurance are recommended?
There are many types of supplemental insurance out there. It depends on the type of supplemental insurance you want. Place calls to your local insurance companies and ask around.
Can you apply with any insurance agent for medicare supplemental insurance?
Yes. Insurance agents that sell Health/Medical insurance can help you apply for Medicare supplemental insurance. Not all insurance agents cell all types of insurance. You will need to check with your agent to see if they sell health/medical insurance
What is the definition of supplemental insurance?
The definition of supplemental insurance is additional or extra insurance that you can get to help pay for out-of-pocket or services that your regular insurance will not pay for.
How do I find supplemental dental insurance?
You can find supplemental dental insurance. You can find quotes for this insurance at www.lookdentalinsurance.com or www.aflac.com/ or www.thelibertyprogram.com/.
What exactly is supplemental insurance?
Supplemental insurance is insurance that you can purchase in addition to your regular insurance. It can help pay for expenses such as copayments and deductibles not covered by regular insurance.
What is Supplemental Insurance?
Supplemental insurance is an additional insurance which provides coverage in excess of your primary insurance policy. For example, Flood Insurance is a supplemental insurance to your homeowners policy which does not cover damage from floods. Or, you might have an Umbrella Liability policy which provides coverage to a higher dollar limit above your auto policy or business policy.
How does supplemental health insurance work?
At this site you can find a wealth of information on all different aspects of supplemental health insurance, including articles about what it is and how it works: http://www.ehow.com/supplemental-health-insurance/
Is supplemental insurance really worth the costs?
"Supplemental inurance provides coverage in areas that most regular insurance policies do not. However, sometimes your regular insurance company will offer optional benefits that you can add onto your policy. What you need to determine is how much your regular insurance will increase and how much you can purchase a supplemental policy for and, obviously, choose the lesser of the two."
What is meant by the term Humana Supplemental Insurance?
Humana is a medical insurance company. Supplemental insurance refers to add ons to an existing policy. Supplemental insurance can cover deductibles, co-pays and other expenses not covered by a policy.
What does supplemental health insurance usually cover?
Supplemental health insurance is helpful in covering drug costs, doctor visits, and medication. It is helpful for people who need extra coverage in addition to their medicare or medicade, for instance.
