What is Supplemental Health Insurance
Supplemental health insurance is that ad-on policy framed by the insurance companies that helps you to fulfill all those voids that a regular medical policy fails to cover up for you. It is a service that has emerged out of competition when all the companies are providing coverage of all the same medical conditions someone had to come up with something that gave an extra and more specific benefit unlike the regular medical policies which might be of more value but are much more vague and unclear in terms of the execution and application when it comes to understand the coverage of it. But it should be well understood that it’s just an add-on and not a replacement for the regular policies, so one must go for these supplemental health insurance only after taking your regular policies.
The major benefit of the supplemental cover is that it not only pays for the hospitalization but also for the salary or your other income which one loses due to illness or any other casualty. It also pays for the travel if the treatment is away from your home town and also covers for skilled home nursing if required for a long period of time after the discharge from the hospital and even for the prescribed medicines. So basically it not only covers for the illness directly but also supports you in terms of all other expenses and loses that you borne due to your medical condition. In terms of cost, a low premium is attributed to the low coverage in the regular medical insurance policies but in case of supplemental insurance policies a high benefit can be derived from low cost of premium as it covers only specific loopholes of the regular medical insurance.
We can say that supplemental insurance are the improvised versions of the riders that used to exist earlier along with the regular policies but the only difference being that it costs less and that they cover more of the span and its benefits don’t get reduced even if the same is being covered by the regular policies like suppose if your regular policy covers for the hospital expenses then first the cost shall be borne by the same first and then above that the supplemental will pay for the extra covered limit and not be cancelled just because you have one or more medical policies covering the same already. Thus if you are planning to buy health insurance for yourself do buy the supplemental pack of your needs also to save the extra money and losses.