Supplemental Health Insurance
Supplemental Health Insurance can be a good option for those who may want help with medical bills after their primary insurance has finished paying. As the name suggests, supplemental insurance works in combination with other insurance.
Hospital Indemnity Insurance
- Unexpected child-care expenses
- Additional transportation expenses
- Extra lodging and/or meal costs
- Deductibles and co-insurance amounts
- Coverage normally begins on the first day of the hospital stay
- Covered hospital stays are generally payable up to a year for the same or related condition
- Reimbursement costs are normally paid out directly to the policyholder
Supplemental Health Carriers
Cancer Supplemental Insurance Plans
Cancer Supplemental Insurance plans provide patients with additional cash once the patient is diagnosed with cancer. Cancer rates are high in the United States and affect 1 in 2 men and 1 in 3 women during their lifetimes. As a result, families faced with a recent cancer diagnosis may face out of pocket expenses unrelated to medical expenses. Examples include loss of income, additional child-care expenses, travel and lodging expenses, deductibles and co-pays. Again, while policies offerings vary by company, the following are common examples of benefits for policyholders of Cancer Supplemental Insurance Plans:
One lump-sum cash benefits upon the first-time diagnosis (with cash limits ie. up to $50,000) Or pay on a per day basis (with limits ie. up to $300/day for the first 300 days and up to $450 for the next 200 days of hospital confinement) Cash benefits are tax-free and paid directly to you Policies don’t require a physical examination As long as the patient has not had previous cancers issues, cancer policies can be purchased regardless of other health issues) These plans may be purchased up to the age of 85