Do You Need Supplemental Insurance?
Could you fully cover your medical expenses if your medical insurance didn’t pay it all? If the answer is no, then you might want to consider supplemental insurance. It works with your existing medical insurance to pay your total medical costs – up to a specific amount. So if your medical plan only pays 50 percent of your costs, supplemental insurance can help pay some or all of the balance.
Do You Need It?
Senior citizens benefit the most from supplemental insurance. Most senior citizens get Medicare, which doesn’t always cover all of their costs. Therefore, insurance with a supplemental clause can pay for any outstanding balance on medical bills. The high cost of medical care practically makes this a necessity for elderly people with severe medical problems.
How to Use It?
When a person receives medical care, they receive a bill for the services. The provider will charge a primary insurance plan, and then a secondary insurance package is a balance remains. The secondary insurance is usually a supplemental plan purchased by the patient. It is not a federal plan like Medicare.
Supplemental insurance gives the policyholder the ability to pay the difference between a medical bill and the amount covered by primary insurance. This insurance can pay for visits to doctors, hospitalization and other inpatient and outpatient services. A major benefit of supplemental coverage is the ability to pay for prescription drugs – especially brand-name. Medical equipment and accessories can also be purchased with this coverage. Vision and dental coverage is usually also included. So prescription eyeglasses or contact lenses can be purchased with this type of insurance plan.
Anyone with high medical costs can save money by using supplemental insurance. This is especially true if long-term healthcare is necessary. The policyholder can be assured their medical bills will be covered. There also aren’t restrictions on the doctors and hospitals a policyholder can visit.