Group health insurance through work offers an inexpensive way for policyholders to get medical coverage. But, for some employees, the coverage level doesn’t fully meet their needs. It may not offer enough coverage or fail to cover specific procedures. That’s where workplace supplemental health insurance can come in handy. These policies can provide additional coverage for a great rate through work. This article will cover supplemental health insurance in more detail and discuss why it may be worth a look.
What is supplemental health insurance?
Supplemental health insurance is additional coverage that you can use to help with out-of-pocket expenses that may not be covered by major medical insurance. It’s designed to help provide an additional layer of financial protection. Like standard health coverage, supplemental health insurance is often affordable through the employer.
This helps provide peace of mind with affordable coverage.
Types of supplemental insurance
There are different categories of supplemental health insurance. Each one offers some distinct benefits:
Supplemental Dental and Vision Insurance
These are some of the most common types of supplemental insurance. These can help with expenses such as the costs of routine dental visits, eye exams, and prescription contacts or glasses, among other things.
These types of policies pay out benefits to help with general medical bills, and are often designed to provide an additional layer of financial protection in the event of an accident or illness. . For instance, a hospital indemnity policy helps with expenses by paying a fixed sum of money. It helps prevent high deductibles and out?of?pocket expenses from derailing life.
Meanwhile, accident insurance, another one of these policies, helps policyholders with medical costs due to an accident, and pays benefits regardless of other plans.
Life or disability
Some supplemental policies are designed to help offset the financial risk of potential death or disability. One example is disability insurance, which comes in short-term and long?term forms. This policy pays the policyholder a portion of their income if they become disabled and unable to work.
Life insurance helps provide security for loved ones when a main source of income is lost. There are types of life policies. Some last the entire life or a policyholder or lasts for a specific amount of time.
Complement medical coverage with supplemental health insurance
Although workplace medical coverage is an excellent benefit, it wasn’t designed to cover everything. Fortunately, many employees can apply for extra coverage with a supplemental health insurance policy. Whether they need vision, accident insurance, or a disability policy, many employers offer these and more supplemental policies at affordable rates to help their employees get the coverage they need.
Coverage is underwritten by Aflac. In New York, coverage is underwritten by Aflac New York. This is a brief product overview only. Coverage may not be available in all states, including but not limited to ID, NJ, NM, NY, or VA. Benefits/premium rates may vary based on plan selected. Optional riders may be available at an additional cost. Plans and riders may also contain a waiting period. Refer to the exact plans and riders for benefit details, definitions, limitations and exclusions. For availability and costs, please contact your local Aflac agent/producer. Short- term disability: In Idaho, Policy A57600IDR. In Oklahoma, Policies A57600OK, A57600LBOK. In Virginia, Policies A57600VA, A57600LBVA. Accident: In Idaho, Policies A35100ID-A35200ID, & A35B24ID. In Oklahoma, Policies A35100OK-A35200OK, & A35B24OK. In Virginia, Policies A35100VA-A35400VA, A35B24VA, & A35BOFVA. Hospital: In Idaho, Policies B40100ID & B4010HID. In Oklahoma, Policies B40100OK & B4010HOK.Life: ID, OK, VA: Policies: ICC1368100, ICC1368200, ICC1368300, ICC1368400 and Riders: ICC1368050, ICC1368051, ICC1368052, ICC1368053, ICC1368054, ICC1368055.
Content within this article is for informational purposes only and does not constitute legal, financial or medical advice regarding any specific situation. Aflac cannot anticipate all the facts that a particular employer will have to consider in their benefits decision-making process.
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