Supplemental Health Insurance

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When it comes to taking care of your health and wellness, one of the most important investments you can make is in a health insurance plan. Health insurance helps give you coverage for medical expenses in the case you experience an injury or illness. Healthcare coverage can also help you pay for routine, preventative care, like a checkup at your primary care physician.

There are many types of health insurance plans that people can choose, including a primary plan. One other useful kind of health insurance is a supplemental health insurance plan. Supplemental plans bolster your primary plan to ensure that you're covered in a wider range of scenarios.

If you're considering coverage it can help to learn more about supplemental health insurance. Then you can make an informed decision about whether a supplemental plan is right for you.

What is Supplemental Health Insurance?

Supplemental health insurance (or "gap insurance") exists to cover healthcare expenses not covered by basic insurance. Supplemental plans fill in the gaps where your primary coverage doesn't protect you. This means that supplemental health insurance can help cover costs your primary insurance doesn't help with. Some of these costs include co-pays, deductibles, and co-insurance.

What Types of Supplement Health Insurance Are There?

There are several different types of supplemental health insurance plans that exist. Some of the most popular kinds of supplemental health insurance plans include:       

  • Short term health insurance coverage        

  • Dental insurance       

  • Vision insurance      

  • Disability insurance     

  • Travel health insurance

  • Long term care insurance    

  • Critical illness insurance    

  • Indemnity insurance     

  • College student health insurance     

  • Hospitalization insurance

There are also supplemental health insurance plans specifically for people who have Medicare.

Why Would You Need Supplemental Health Insurance?

If you have a basic healthcare plan, you may be wondering why you should consider a supplemental insurance plan. Not everyone may want to invest in a supplemental health insurance plan. However, there are some scenarios where a supplemental plan may be a worthwhile investment.

First, supplemental health insurance can cover large gaps in an individual insurance plan. Take a close look at your plan. If your plan falls short when it comes to large expenses then supplemental insurance could be a smart investment. Some of these potentially large expenses include major surgeries, hospitalizations, and more. If your primary insurance plan has a very high out-of-pocket maximum, you may also want to buy supplemental health insurance. Your supplemental plan could help you cover any amount you'd have to pay should you incur any expensive medical costs. Also, you may consider a supplemental insurance plan if you have children who need care should you experience an injury or illness. Supplemental insurance can ease the financial burden of healthcare while supporting your family. Finally, supplemental health insurance plans may be a good option for people who lack savings or those who can't bring in income if they cannot work. If an accident or illness renders you unable to work, your supplemental coverage could help pay your medical bills. That way you can use your own savings or income to afford your regular living expenses.

How Much Does Supplemental Health Insurance Cost?

Like most insurance plans, supplemental health insurance plans range in cost. The price of supplemental health insurance plans vary based on what type of coverage you're looking for, where you live, and other factors about you and your lifestyle (age, location, etc.).

Where Can I Find a Supplemental Health Insurance Plan?

Many private insurance companies offer supplemental health insurance plans. You can contact your individual insurance company to see what supplemental coverage they offer. You can also ask them how to purchase a plan. You may also want to use an online comparison tool, like PolicyScout. These tools can help you search all available supplemental plans. We will show you the benefits and costs in one place, so you can choose the plan that is best for you.