Do I Need Supplemental Medical Insurance in Fairview Heights, IL?
What you need to know about supplemental medical insurance
Sometimes, a medical insurance policy just isn’t enough. For one reason or another, we’ve all encountered a situation where we have had a medical issue that just isn’t fully covered. Whether it is co-pays or deductibles, out of pocket expenses are a reality of the insurance industry. However, there is a way to mitigate this with the help of supplemental medical insurance plans. Today let’s take a closer look at these plans and how they can help you when you need them most.
What is supplemental medical insurance?
Supplemental medical insurance is an additional health insurance plan you have in addition to your main policy that is intended to cover costs above the essential medical coverage that policy takes care of. This could be a supplement to a private plan or to a government plan such as Medicare. The aim of the specific plan could be to offset costs such as copays or lower deductibles on procedures. Some supplemental plans can be tailored to meet your specific medical needs.
What kind of supplemental plans are there?
Supplemental plans come in many shapes and sizes and may cover any number of contingencies. Some common plans you may already have, such as dental insurance or a vision plan. Other common supplements include disability insurance or provisions for long-term care. If you may need to seek out-of-network care, a supplemental plan may help to offset those costs.
Things to consider before you buy
As with any insurance policy decision, there are many things to take into consideration before you purchase a supplemental plan. Some things you need to consider include how it will affect you financially and how much in insurance premiums you can afford. Try to calculate how much the insurance will actually save you when you seek medical care. Also consider other options that you may have available, such as health savings plans or benefits your employer or membership associations could offer you.
Are you looking for supplemental insurance in the Shiloh, IL area? Klein, Merwin, Karrer & Associates can help. Contact us if you need any guidance or would like to set up an appointment.
*The information on this page is not intended for educational purposes. Please consult an insurance professional before making any decision regarding insurance or investments.