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Supplemental (Voluntary) Benefits

Your present, traditional health insurance policy (or primary policy) may not provide coverage for all of the costs associated with whatever care may need to receive. What is known as “supplemental” coverage is exactly what the name implies and can make great financial sense in such a situation in which your care and your financial well-being requires more than the normal coverage. Supplemental insurance is extra coverage for which you must opt to pay for out-of-pocket. It is utilized in covering those expenses that a traditional plan leaves out. Some examples of expenses that supplemental coverage can be utilized in paying for include deductibles, copayments and coinsurance charges. Many supplemental plans are available that offer cash payouts for expenses related to your medical treatment such as food and lodging, medication or even lost wages as a result of treatment. In a nutshell, supplemental insurance is what can help to pay for the costs not covered by an existing health insurance policy.
One’s “Primary Insurance” is what provides coverage for individuals who are in need of compensation for basic healthcare needs. Missed income Insurance provides the policyholder with compensation against loss as a result of various events that can lead to one missing out on normal income. Many opt to purchase life insurance as well to ensure that their loved ones will have the necessary financial support in the tragic instance that the medical care did not work out and the policyholder passes on. Others often choose to also buy disability insurance, which ensures their income flow continues even if they no longer can work for a period of time. Also obtaining a supplemental insurance policy, other than obviously helping to protect one from often-high out-of-pocket, non-covered costs, also provides the priceless feeling of protection and peace of mind. A supplemental policy is generally obtained from the same insurance provider as the one offered the primary policy.

Contact your insurance representative for more information.






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