Added Protection | Supplemental Health Insurance
What is supplemental health insurance, and how does it differ from primary health insurance?
Supplemental health insurance is a kind of insurance intended to augment your primary insurance to cater for expenses that your primary insurance might not be able to cover fully such as dental, vision, critical illness treatments among others.
Who can benefit from supplemental insurance?
Supplemental health insurance is suitable for anyone who may be willing to pay little more to be protected well. It is particularly advisable for those with high-deductibles, individuals above the age of 65, children who might need orthodontic treatment, and patients with chronic conditions.
What types of services are typically covered by supplemental insurance?
Supplemental health coverage can cover many services, such as dental services, vision services, prescription medicines, hospital stays, critical sickness, ambulance rides, and more. The coverage differs with the type of policy and the policyholder’s requirements.
Do I need primary health insurance to purchase supplemental coverage?
Indeed, supplemental health insurance is to be used together with the primary health insurance plan. Obtaining a first-layer health insurance plan is usually necessary before a person can qualify for and access the associated supplemental insurance plans.
How does supplemental insurance work with my primary insurance?
Supplemental insurance is basically extra insurance that complements the customer’s main insurance. It assists in covering the costs that your major insurance fails to cater to. When primary insurance may not be adequate to pay all the expenses, your supplemental policy will take care of the balance up to the policy limits.
Can I customize my supplemental health insurance coverage?
Yes, most of the supplemental health insurance policies can be easily tailored to incorporate various features that are most appropriate to the individual’s needs and financial capabilities in regard to medical expenses. You can always choose a level of coverage that matches your particular needs.
Are there any conditions that might limit the use of supplemental health insurance benefits?
While most policies are quite comprehensive, others may exclude specific diseases such as pre-existing diseases or conditions. In some cases, a supplemental health insurance policy may include waiting periods before certain benefits can be used. As always, it is advisable to go through the policy details to address possible limitations or exclusions.
Is supplemental health coverage portable if I change jobs or retire?
Yes, a large number of supplemental health insurance plans are portable so that you can keep the coverage if you change jobs or even retire. However, portability is likely to vary depending on some factors such as the policy as well as the insurance company.
Can I enroll for supplemental health insurance at any time, or are there specific enrollment periods?
Open seasons for special coverage plans depend on the policy and the insurance company. Some insurance providers may allow you to join at any time, while others may have specific enrollment periods, particularly if you’re changing jobs or during open enrollment seasons.
Does the premium for supplemental health coverage rise over time?
Yes, similar to any insurance policy, the costs of premiums for the supplemental health coverage are subject to changes hence the cost may go up due to inflation or change in terms of policy.