Supplemental (Voluntary) Benefits

SUPPLEMENTAL Insurance Policy

Standard insurance policies don’t always cover everything involved with an insurance claim, so customers often explore supplemental insurance options. This type of insurance lets customers feel comfortable, knowing that, if their doctor orders special tests or treatments, their basic coverage will not pay, this backup insurance will kick in.

Sometimes doctors order tests and procedures that insurance carriers often refuse to pay, which leaves the patient responsible to pay for that item out-of-pocket. Depending on how expensive that charge is, it can feel overwhelming for a patient to receive a bill for something they could not have foreseen.

Patients can cover these incidental medical costs more easily when they can refer to their second tier of insurance. Deductibles, co-insurance and co-payments don’t have to stress customers out. With supplemental insurance, customers can easily make those payments without suffering from additional stress due to an inability to pay for these services.

Customers can either buy their additional insurance from the same carrier from whom they buy their basic coverage, or they can choose a different company, depending on where they can get the best rates for the most varied and encompassing coverage.

Another way that this type of insurance comes into play is when someone needs insurance in addition to their Medicare payments to cover extra costs. If an elderly person needs treatment at a rehabilitation facility, an in-treatment facility or at a long-term stay at any type of facility, this plan is ideal. Called Medigap, this type of secondary insurance is essential to the elderly who simply need good insurance to make sure all of their needs are covered.

For those suffering from cancer or any other unforeseen illness, the ultimate costs become extensive and eventually suffocate the patient. This type of insurance, usually paid in one lump sum, helps ease the burden for the patient and their family, so they can look forward to a happy and healthy recovery instead of trying to find ways to repay the hospital.

The major benefit of this type of insurance policy is its ability to relieve people from the stress of accruing costs they will find difficult to pay once their treatment is over.