Supplemental Medical Insurance
What Does Supplemental Medical Insurance Mean?
Supplemental medical insurance is additional coverage that goes beyond a policyholder’s primary health insurance. This extra coverage can be purchased from private companies to help cover various healthcare expenses, such as copays and deductibles, which are typically not included in the main policy. Some supplemental plans also offer cash benefits that policyholders can receive in a lump sum or over a period of time.
Insuranceopedia Explains Supplemental Medical Insurance
While supplemental medical insurance may be unnecessary for some, it can be essential for others, particularly those with critical illnesses, those at risk of losing their job, or older individuals who may require long-term care in a nursing home. Since various types of supplemental health coverage are available, individuals interested in obtaining it should review their primary health insurance policy to identify any exclusions or uncovered expenses and then secure the appropriate supplemental coverage.
