Tinkerbell asked: Does anybody have supplemental health insurance? Do you know of a good provider? I have never heard of it, my Mom was telling me about it. I looked and I found some places that said quotes for supplemental health insurance. but when I filled out the info it seemed like it gave [...]
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added by World's Best with
3 comments.
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Written by World's Best on July 3rd, 2008 with
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chris.whitelaw
#2.
July 7th, 2008, at 12:21 AM.
Having Health Insurance and Supplemental health insurance would get kinda bothersome. In your situation, I would go for a nice HSA-HDHP. (Health Savings Account High Deductible Health Plan).
They only work if the insured really knows the ins and outs of the plan. I really recommend you have a broker explain it to you. Basically, instead of giving your money to the Insurance companies in the form of premiums who, in turn, give your money to doctors to reimburse you for claims, you control how much money you put in a “Health Savings Account” that grows tax-free.
I feel like people are getting to used to typical, low-premium plans, that give instant satisfaction in the form of making you pay only a set small amount (Co-pay) for office visits and such. Then, when they get slammed with a $30,000 claim, the insurance company only is able to pick up like $2,000 of the bill.
If your able to pay for most of your office visits, willing to actively put money into your HSA, possibly get your employer to contribute to your account with you, it’s the most rewarding because 20 years down the road you have a massive savings egg you can use for extra income, and for paying a massive medical claim.
David C
#3.
July 10th, 2008, at 3:11 AM.
By far, the biggest and the provider of supplemental health insurance is Aflac (you’ve seen the Aflac duck on tv). I’ve been with the company for almost 5 years now and they’re GREAT! Very affordable and awesome if you need to use it. Check them out:
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#1. July 6th, 2008, at 3:01 PM.
Supplemental health insurance is purchased as a safeguard against a future event such as specific health crisis or accident that can create a financial hardship for you and your family. These pay a cash benefit to you (or your beneficiary) in the event you are diagnosed with a covered illness or experience an accident depending on the type of policy you purchase. The benefit is meant to help you with bills, in some instances cover certain types of therapy, and possibly offset loss of income that you may experience due to your situation. The benefits offered depend on the particular event you have purchased coverage for - supplemental policies can be for accidents, cancer, critical illness, hospital confinement, outpatient surgeries, etc. If you are at risk for having a serious illness or experiencing a hospitalization, it may be a good idea to invest in a supplemental policy.
Some companies that offer supplemental are AFLAC, AIG, Colonial Life, and State Farm. If you do a web search for supplemental health you should get a list of links to companies that offer these coverages. Some employers offer Voluntary benefits, which you can elect at your discretion during open enrollment without any contribution from the employer, and a supplemental plan might be offered there as well - the most common types offered through an employer are Accidental Death & Dismemberment, Short Term Disability and Long Term Disability.