| Many people either don't know about supplemental | | | | them when they use their policy. |
| insurance, or they just don't fully understand it. Many | | | | Why do I need this type of coverage? |
| are faced with large amounts of debt due to health. | | | | Every single health insurance policy HAS gaps and |
| 60% of bankruptcies in the United States are health | | | | vulnerabilities. Every insurance policy has deductibles, |
| related. Many are forced to sell their homes, cars, | | | | some of which are up to $10,000. Every insurance |
| personal belongings, and even use their kids college | | | | policy also has coinsurance, of 10%-20%, which is only |
| funds to have to pay for health related costs because | | | | active AFTER the deductible is met. Supplemental |
| their health coverage did not cover all costs | | | | insurance is designed to cover gaps, and unexpected |
| associated with their condition. Fortunately, there are | | | | costs that most insurance policies do not cover. Let's |
| solutions to cover these additional expenses and | | | | say we have a family, Dave is the sole proprietor of |
| vulnerabilities that every health insurance policy has. | | | | the family, Jane is a stay at home mom with their |
| What is Supplemental Insurance? | | | | three children. Dave is diagnosed with colon cancer, |
| Most are familiar with major medical coverage that is | | | | and has to miss work for treatment. It is likely that |
| used to cover co-pays, and other basic health needs. | | | | Dave will have to travel quite a bit for treatment, |
| Supplemental Insurance is designed to cover expenses | | | | chemotherapy, radiation, and check-ups. It is also likely |
| that health insurance does not cover. When there is a | | | | Dave will have to travel to a specialist, far from home. |
| surgery, or hospital confinement, if an individual will likely | | | | Transportation is one of the hidden and unexpected |
| pay a deductible, that can be anywhere up to $10,000, | | | | costs of cancer that most don't know about until it is |
| then pay 15%-20% coinsurance for the surgery. | | | | too late. If you add up air fare, hotel stays, food, and |
| policies pay the policyholder directly, in cash for these | | | | various expenses, this can easily add up to thousands |
| occurrences. There are no co-pays, deductibles, | | | | of dollars very quickly. Transportation is usually NOT |
| coinsurance. All the policyholder is required to do is pay | | | | covered by health insurance. |
| the monthly premium, and cash benefits are paid to | | | | |