What is Supplement Insurance?

Supplement Insurance is an additional layer of insurance protection. It “supplements” andcovers costs that traditional health insurance does not cover. It compliments an insuredprimary medical/health insurance. Supplement insurance is sometimes referred to as “gap”insurance to fill in the gaps to help pay for expenses that are not covered in a person’s life,health, and/or disability policies. Supplement polices vary by type and have limited and specificuses. 

For example, a supplemental cancer policy could pay an insured policy holder a flat feefor an initial diagnosis or a supplement dental policy could pay an insured a flat fee to helpcover a major procedure such as a root canal. The main types of supplemental insuranceinclude but are not limited to Accident, Cancer, Critical Illness, Dental, Dismemberment, Vision,Term Life, Hospital, and more. The cost of supplemental insurance policies not only vary bytype, but they also vary in cost of monthly premiums due to coverage amounts, a person’smedical history, whether the plan is being purchased through a group plan or as an individualpolicy. 

Some companies pay out supplement policy claims directly to the policy holder asopposed to general medical insurance that most likely pays claims to the healthcare provider.Funds paid directly to the policy holder could be used to cover expenses at the discretion of theinsured. Overall, supplement insurance is well worth the research to find an affordable policythat will be lower medical, health, or injury expenses.

https://clark.com/insurance/supplemental-insurance/#what

https://www.healthmarkets.com/content/supplemental-health-insurance