Even if you’re enrolled in a government health policy or have private insurance, you may still have huge medical expenses. Supplemental insurance helps you pay the expenses that your primary insurance doesn’t cover. These expenses can include co-pays and deductibles. This type of policy exists because private insurance or Medicare hardly ever pay all of your medical expenses. There’s always a portion left over for you, the policyholder, to pay.
You have a variety of options when it comes to supplemental insurance. For instance, you can get critical illness coverage that only pays when you’re diagnosed with a specific critical illness. It works in conjunction with traditional medical insurance. The most common form of critical illness policies are those concerning cancer for those who are at high risk. There are also plans that help pay for hospital stays, co-pays, and more.
Speak with an insurance agent to determine if you’re a good candidate for supplemental insurance. It primarily depends on your risk factors, and how often you think you’ll need medical care. For example, if your family has a strong history of Alzheimer’s disease, then you might want to make sure you have supplemental coverage. Also, if you’re worried your current cover just isn’t enough, you can always consider a supplemental policy.