Total Protection: What Is Supplemental Healthcare Coverage?
For many Americans, healthcare remains a challenge. Even if your employer offers health benefits, you may struggle to meet the deductibles and other out-of-pocket costs your provider doesn’t cover. Supplemental healthcare can provide you with additional coverage to complement your existing policy. Here’s how it works.
Supplemental Insurance Definition
Supplemental healthcare (also known as supplemental insurance) is a separate insurance policy designed to augment or complement your existing health insurance policy. Supplemental coverage can help with out-of-pocket expenses or other fees that your primary insurance policy won’t cover, including:
- Copayments
- Coinsurance
- Deductibles
- Prescription drugs
- Dental coverage
- Vision
- Critical illness
- Long-term care
- Disability
Some policies can also provide income replacement should your medical needs prevent you from working. Not all supplemental policies are the same, however. The exact coverage varies between providers and can be tailored to your specific needs.
How Does Supplemental Healthcare Work?
By definition, supplemental insurance doesn’t replace your primary insurance policy — you must already have a healthcare policy in place before you can add supplemental coverage. Once you do, this policy can cover expenses your primary plan doesn’t address.
Typically, supplemental coverage will provide lump-sum reimbursements for your medical costs. For instance, if you go to the hospital and have a high deductible, you’ll pay these costs yourself, then your supplemental policy will reimburse you for them.
Supplemental healthcare coverage can be purchased through your employer, though you can always buy a policy individually. Choosing the right provider will equip you with a policy suited to your particular medical and financial needs.
The Benefits of Supplemental Healthcare
If you’re facing high healthcare costs (even with insurance), the benefits of supplemental healthcare may be obvious. They include:
- Financial assistance with unpaid medical bills
- Coverage for things your insurance policy doesn’t cover (e.g., vision, dental)
- Flexible policy options that adapt to your needs
- A safety net for unexpected medical events
The best supplemental healthcare providers also offer perks like screenings and telemedicine that augment your existing healthcare coverage.
Do I Need Supplemental Healthcare?
Technically, you don’t need supplemental healthcare as long as you have health coverage.
That said, supplemental policies can protect you from the devastating consequences of unpaid medical costs. That’s not just true when you have an immediate health concern but also when you need to see a doctor for regular visits and preventive care.
Besides, high out-of-pocket costs can be a major health hazard. Do you ever find yourself putting off doctor visits because you’re worried about how you’ll afford treatment? With supplemental healthcare coverage, you never have to let financial concerns get in the way of your well-being.
As a bonus, if you require prescription drugs on an as-needed or regular basis, supplemental healthcare coverage can ensure that you get the medication you need without breaking your monthly budget.
Help for Your Lifestyle and Budget
Live Life Healthy offers supplemental healthcare coverage that includes virtual primary and emergency care, prescription coverage, and much more. Members can access their plans and gain access to key information through a convenient online dashboard.
Thanks to this supplemental coverage, you can experience greater peace of mind and comprehensive coverage that fits your lifestyle as well as your budget.
