Supplemental insurance benefits are there to fill in the gaps when no insurance plan covers everything.
Primary medical insurance covers a wide range of preventative care services and protects you from the cost of getting seriously injured or ill. Supplemental insurance benefits are there to fill in the gaps when no insurance plan covers everything. Even though these supplemental policies don’t replace your primary insurance, they provide extra benefits to cover all bases. As healthcare spending continues to increase yearly in the U.S., having that extra financial boost helps cover daily expenses while you recover from an injury and cannot work.
Types of Supplemental Insurance
Critical Illness Insurance
Critical insurance is a type of supplemental benefit that pays for out-of-pocket costs that typical medical insurance doesn’t cover. The policy includes a list of specific illnesses and conditions that it covers. Critical insurance is geared toward giving you financial support when you create a covered medical condition or disease. It usually covers the following:
- Stroke
- Heart Accident
- Cancer
- Coma
- Paralysis
- Loss of hearing, vision, or speech
- Organ transplants
Accident Insurance
This type of supplemental insurance focuses on accidents and can provide coverage when recovering from sudden events.
Dental Insurance
Dental insurance helps cover the cost of taking care of your oral health. Even though you can receive this coverage separately, many employment benefits packages include dental plans and health insurance. Maintaining your teeth is critical to managing your overall health, so dental insurance can help you make a long-term investment in yourself.
Vision Insurance
Eye care insurance is not expensive, but you should select this insurance type if you only visit the eye doctor for a yearly checkup. However, vision insurance can save money if you have eye problems and need corrective lenses. Vision insurance covers the cost of glasses, eye examinations, contact lenses, and fittings.
When are Supplemental Benefits Ideal?
Obtaining supplemental insurance might be suitable for you if:
- You have certain types of diseases or a family history, such as heart disease, cancer, stroke, or other illnesses
- You desire extra financial assistance for you and your family during a sudden accident or illness
Overall, when shopping for supplemental insurance, it’s critical to read the policy details to ensure proper protection and understand the limitations of your coverage.
Get in Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for the latest voluntary benefit news!