Supplemental health insurance is easy to overlook, but it can make a world of difference. What is supplemental health insurance? It’s any plan that covers beyond the minimum essential medical coverage required by traditional health insurance. These can also be purchased to help pay any costs not covered by a basic insurance plan. 

There’s a lot to know about supplemental health insurance. Whether you already have some supplemental insurance or you’re shopping for the first time, this guide is for you. It’s time to take control of your health. 

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What’s Covered by Traditional Health Insurance?

How does your current health insurance plan work? Most people are surprised to learn just how much (or how little) this plan covers. No matter how high-tier your plan is, you can expect to have some gaps in coverage. 

With a traditional health insurance plan that you purchase either through your employer or the healthcare marketplace, you’ll need to pay a monthly premium to keep your coverage active. It doesn’t end here, however, since you’ll also need to pay what’s known as a copay (or a shared cost) for each doctor visit. If you need to pay for certain medical expenses that aren’t fully covered, like a test or hospital stay, this is known as coinsurance. 

Traditional health insurance covers the “basics” like exams, checkups, specialists (in some cases), emergency room visits, tests, and so on. It doesn’t cover the dentist, vision, or anything beyond what’s minimally required in most cases. 

Most people pay around 20% of their costs, and this is only for things that are included. “Outside” care that’s beyond what’s required will be up to you to pay. While a supplemental plan is important, a traditional plan is more important to guarantee your health is protected. 

Types of Supplemental Insurance

Now that you understand how supplemental insurance differs, let’s talk specifics. What types of supplemental insurance are there? You most likely know of these already, and many supplemental plans can be purchased for a small cost through your current insurance provider. 

  • Dental Insurance – Adult dental care is not usually included in a traditional plan. Dental plans not only provide free cleanings and checkups, but they cover a percentage of treatments for things like fillings, crowns, and more. HealthMarkets offers these plans for dental insurance. 
  • Vision Insurance – Another type of coverage that’s not usually offered to adults is vision insurance. With vision insurance, you can get yearly eye exams, preventative car, and low-cost eyewear. 
  • Critical Illness Insurance – There’s no way to predict if you’ll come down with a critical illness. If you do, your insurance might not help you. This supplemental plan will provide coverage if you find yourself facing a critical illness. 
  • Disability Insurance – What happens if you’re suddenly unable to work due to a disability? How will you support yourself? That’s where disability insurance comes in, and it can be a lifesaver. 
  • Travel Insurance – Your medical insurance likely has limits on where and how it can be used. If you travel outside of your state or county, you need travel insurance. 
  • Long Term Care Insurance – If you find yourself needing long-term care in a hospital or facility, this coverage will help you afford it. 
  • Life Insurance – Finally, life insurance offers payment to your family and loved ones in the case of your sudden death. 
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What Are the Benefits of Supplemental Insurance?

Supplemental insurance affords you much-needed peace of mind. In addition, it’s not as expensive as you might think. You can get supplemental plans for significantly less than a traditional health plan. For example, dental insurance can cost anywhere from $15 – $50 a month depending on your plan. That’s very affordable when you consider the benefits. Supplemental insurance also covers the expenditure of your medications. For instance, if your doctor prescribed you to consume cannabis for treating some illness, then you can buy weed from government-approved canada weed dispensary and get your bill reimbursed.

In essence, choosing a supplemental plan will help you cater your healthcare to your unique needs. It’s not enough to place all of your confidence in your existing medical insurance plan. It likely has gaps in coverage you might not be aware of. 

Is Supplemental Insurance Right For You?

Supplemental insurance is right for everyone. However, the type of insurance you choose will depend on your medical history, family’s history, and budget. For instance, if there’s a history of critical illness in your family, a critical illness plan is a good investment. 

There’s a lot to be confused about when it comes to insurance, but supplemental insurance shouldn’t be one of them. It’s time to get the coverage you need.

About the author

Jessica Smith

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