Should I Buy Supplemental Health Insurance?
Hospital Indemnity Insurance Hospital Indemnity Insurance (also known as Hospital Confinement Insurance) provides a cash benefit if you are “confined” to a hospital due to an illness or serious injury. The cash benefit – doled out in one lump sum or as daily or weekly payments – may not start until after a minimum waiting period. Similar to other types of supplemental insurance, the additional coverage is meant to help you pay for services and needed items not covered by your regular health plan.
Supplements & other insurance
What’s Medicare Supplement Insurance (Medigap)?
Some Medigap policies also offer coverage for services that Original Medicare doesn’t cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share.
Supplement Health Insurance Plans
Supplemental cancer insurance: This type of policy falls under the category of critical care insurance. Cancer can affect anyone, and it can involve expensive medical treatments. The American Cancer Society estimates that 67% of total cancer costs are non-medical and often aren’t covered by regular health insurance. This type of policy can help pay for radiation, chemotherapy, prescription drugs and air travel. Varying levels of coverage are available.