Supplementary health insurance is insurance that can be taken out to cover the gaps in traditional insurance coverage, or to provide additional coverage that is not covered by your primary health insurance.
Defined Benefits
Supplementary health insurance is sometimes called defined benefit insurance, as it will pay a specified amount in a given set of circumstances. If you have a supplemental hospital confinement policy, it will state the amount paid per day of hospitalization, opposed to non-specific amounts paid in a major medical policy.
Medicare Supplements
Medicare supplements are taken out to pay for the gaps in medicare coverage. You can get policies which pay the hospital deduction, extra amounts for home health care and prescription coverage, among others.
Catastrophic Disease
You may get supplementary health insurance that will pay a specified amount if you are stricken by a specific disease, such as cancer, stroke or heart attack.
Considerations And Advantages
Benefits from a supplementary policy are paid directly to you. In addition, supplementary policies are easy to understand, affordable and are stable.
Warning
Supplementary health policies are just that. They are meant to work in conjunction with major medical insurance, which covers catastrophic amounts.
