Social Insurance Supplement

What Does Social Insurance Supplement Mean?

A social insurance supplement is a policy offered by a private company that complements the insurance provided by the government. Policyholders opt for this coverage because it offers benefits not included in government insurance. Additionally, it can help cover expenses that exceed the limits of social insurance coverage.

Insuranceopedia Explains Social Insurance Supplement

While social insurance has helped many people, it has certain limitations, and some policyholders feel they need additional coverage.

They may keep their original government insurance but purchase a separate policy from a private company to ensure their health needs are fully met.

Dental and vision coverage are two examples of benefits often overlooked by social insurance. Treatments such as orthodontics and vision care can be costly, prompting individuals to seek private insurance to cover these needs.

Social insurance also has financial coverage limits. If expenses exceed these limits, a supplement can help cover the excess costs.