Friday, July 21, 2006
Supplemental health insurance is a policy that pays cash benefits in addition to the benefits paid by any other heath insurance coverage. The original target of this coverage was to cover the gaps left by deductibles and co-payments in regular health insurance. One of the attractive features of supplemental health insurance is that it does provide payment for pre-existing medical conditions when many other types of insurance exclude this benefit. Medicare is the primary health insurance for Americans over age 65 but it does not cover long term health care at home or in a nursing facility, nor does it cover the cost of prescription drugs.
The cost of both types of supplemental coverage together can add up to more than $4,000 per year so not all seniors are able to afford this protection. Of the two types, long term coverage is more vital for protecting financial security and you can compare the price and features of several different plans using online databases. There are no deductibles or co-payments, so this is a nice benefit to combine with other high deductible health insurance plans. The policy pays a fixed dollar amount for each doctor visit, lab test or other listed procedure.
posted by renaa
@ 8:47 PM
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