What Is Supplemental Health Insurance?

 What Is Supplemental Health Insurance? Supplemental health insurance is coverage you can buy in addition to your traditional health insurance plan. More than a dozen supplemental insurance plans are available in the workplace and individual markets, including policies that address accidents, critical illness, hospitalization, disability, vision, dental, Medicare gaps, and more. Learn more about

 supplemental insurance, including types, how they work, controversies, and advantages. KEY TAKEAWAYS Supplemental plans can help pay for cost gaps and uncovered treatments in regular health insurance. Supplemental insurance may reimburse you with a flat, fixed amount for a health

care service, health condition, or health event, which you can use in any way. Accident, critical illness, dental, disability, hospital, and travel insurance are examples of supplemental coverage. Supplemental insurance has strict limits on how much it pays. It is never a substitute for comprehensive health insurance to cover medical costs. How Supplemental Health Insurance Works Supplemental insurance is a policy you buy as an additional workplace or group benefit or as an individual plan. The plan

 is not meant to help cover everyday medical needs and expenses. Supplemental insurance often provides a fixed cash payment for a healthcare event, diagnosed condition, or circumstance. Plans may pay a flat fee, a percentage of your costs, or an amount up to a stated limit. Top supplemental providers include Aflac, Colonial Life, Allstate, and MetLife. About one-third of agents noted that they enroll

ed people one-on-one, while another third enrolled with a group plan.1 This insurance can cover: Specific conditions such as cancer, a critical illness, or a disability Situations such as hospitalization or an accident Deductibles, copays, and other out-of-pocket costs Emergency healthcare while traveling Various types of supplemental health insurance work differently, including Medicare supplement, dental, and vision insurance.2 For example, dental and vision plans may pay a percentage of your

 covered costs up to a fixed annual maximum in exchange for premiums. Hospital indemnity and other fixed indemnity insurance work slightly differently. After you submit a claim and the insurer agrees it falls under your policy’s coverage, the insurer pays you a lump sum (normally a fixed dollar amount). You can use this to cover out-of-pocket medical expenses or help pay everyday expenses, like rent or bills. Payments are either per period of hospitalization or illness or per service. Typically, the same

 fixed sum is paid no matter how high your actual costs run. Types of Supplemental Health Insurance You can buy most supplemental health insurance types directly from the insurance plan’s provider or through an online site offering multiple quotes from different providers. Here are a few you might come across. Accident Insurance Accident insurance pays out if you get injured in some accident, like a car

 crash or fall down the stairs. It won’t cover illnesses. Some insurance companies market accident insurance under other names, like “supplemental insurance.” Accidental death and dismemberment insurance (AD&D) may be folded into an accident insurance plan or sold separately. Your employer may also purchase accident insurance for employees. Critical Illness Insurance Critical illness insurance can be sold individually or in combination with another policy. These policies may cover a wide rang

e of diseases while others only cover one specific disease. For example, a cancer policy would only pay out if you get cancer. Dental Insurance Dental insurance can help pay for cleanings, exams, and treatments such as fillings, root canals, implants, braces, and more. Dental insurance is one of the

 most commonly known forms of supplemental insurance. You can get adult dental insurance from: The ACA Health Marketplace Your employer Medicare Advantage Medicaid, in some states Dental insurance varies widely in cost and the procedure percentage a plan will cover. Like other forms of supplemental insurance, you’ll find many exclusions and annual benefit limits. Disability Insurance

 Disability insurance includes long-te

What Is Supplemental Health Insurance? Supplemental health insurance is coverage you can buy in addition to your traditional health insurance plan. More than a dozen supplemental insurance plans are available in the workplace and individual markets, including policies that address accidents, critical illness, hospitalization, disability, vision, dental, Medicare gaps, and more. Learn more about supplemental insurance, including types, how they work, controversies, and advantages. KEY TAKEAWAYS Supplemental plans can help pay for cost gaps and uncovered treatments in regular health insurance. Supplemental insurance may reimburse you with a flat, fixed amount for a healthcare service, health condition, or health event, which you can use in any way. Accident, critical illness, dental, disability, hospital, and travel insurance are examples of supplemental coverage. Supplemental insurance has strict limits on how much it pays. It is never a substitute for comprehensive health insurance to cover medical costs. How Supplemental Health Insurance Works Supplemental insurance is a policy you buy as an additional workplace or group benefit or as an individual plan. The plan i

s not meant to help cover everyday medical needs and expenses. Supplemental insurance often provides a fixed cash payment for a healthcare event, diagnosed condition, or circumstance. Plans may pay a flat fee, a percentage of your costs, or an amount up to a stated limit. Top supplemental providers include Aflac, Colonial Life, Allstate, and MetLife. About one-third of agents noted that they enrolled people one-on-one, while another third enrolled with a group plan.1 This insurance can cover: Specific conditions such as cancer, a critical illness, or a disability Situations such as hospitalization or an accident Deductibles, copays, and other out-of-pocket costs Emergency healthcare while traveling

 Various types of supplemental health insurance work differently, including Medicare supplement, dental, and vision insurance.2 For example, dental and vision plans may pay a percentage of your covered costs up to a fixed annual maximum in exchange for premiums. Hospital indemnity and other fixed indemnity insurance work slightly differently. After you submit a claim and the insurer agrees it falls under your policy’s coverage, the insurer pays you a lump sum (normally a fixed dollar amount)

. You can use this to cover out-of-pocket medical expenses or help pay everyday expenses, like rent or bills. Payments are either per period of hospitalization or illness or per service. Typically, the same fixed sum is paid no matter how high your actual costs run. Types of Supplemental Health Insurance You can buy most supplemental health insurance types directly from the insurance plan’s provider or through an online site offering multiple quotes from different providers. Here are a few you might come across. Accident Insurance Accident insurance pays out if you get injured in some accident, like a car crash or fall down the stairs. It won’t cover illnesses. Some insurance companies market accident

 insurance under other names, like “supplemental insurance.” Accidental death and dismemberment insurance (AD&D) may be folded into an accident insurance plan or sold separately. Your employer may also purchase accident insurance for employees. Critical Illness Insurance Critical illness insurance can be sold individually or in combination with another policy. These policies may cover a wide range of diseases while others only cover one specific disease. For example, a cancer policy would only pay out if you get cancer. Dental Insurance Dental insurance can help pay for cleanings, exams, and treatments such as fillings, root canals, implants, braces, and more. Dental insurance is one of the most

 commonly known forms of supplemental insurance. You can get adult dental insurance from: The ACA Health Marketplace Your employer Medicare Advantage Medicaid, in some states Dental insurance varies widely in cost and the procedure percentage a plan will cover. Like other forms of supplemental insurance, you’ll find many exclusions and annual benefit limits. Disability Insurance Disability insurance includes long-te