How to Buy Supplemental Health Insurance? – Explained

How to Buy Supplemental Health Insurance? – Explained

How to Buy Supplemental Health Insurance? Supplemental health insurance can be acquired in the same fashion as primary insurance. Some supplemental insurance can be purchased through a private marketplace like HealthMarkets, through licensed agents, or directly from an insurance company. 

One difference that exists between Primary and Supplemental Health Insurance plan is that you do not need to wait for an open enrollment period to Buy Supplemental Health Insurance. You can add a supplemental plan at any time, but many plans do exclude pre-existing conditions. 

Examine any holes in coverage in your primary plan and gauge your chances of needing to Buy Supplemental Health Insurance.

You’ll also want to consider how often you see a doctor and whether you have any conditions that require periodic treatments or visits. Looking at your family health history can also provide an indicator of potential risks. 

RECOMMENDED:- What is a Supplemental Health Insurance Plan?

Of course, you’ll want to also measure how much you can afford to pay for insurance each month, as well as how much you can afford if an accident or serious illness occurs before you decide to Buy Supplemental Health Insurance Plan.

What to Consider When Choosing Supplemental Health Insurance?

Some things to consider when deciding if you need a supplemental health insurance plan before you Buy Supplemental Health Insurance, are:

  • Your health risk factors.
  • Your savings.
  • How much insurance you can afford.

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Your savings should play an important role in your decision to Buy Supplemental Health Insurance policy. If you were in the hospital for a few weeks or more, would you have enough to cover your other expenses that your insurance would not? Do you have money that you can access through an HSA or FSA? When deciding on purchasing a policy, you need to take into consideration if you can afford it or not.

Where to Get a Supplemental Health Plan?

Supplemental health plans may be sold by private insurers, they are not generally sold through the ACA healthcare marketplace.

  • Check with your employer to find out if there are any extended benefits on your health plan at work which include supplemental health plan benefits. For examples, may employers may include extended vision, dental or short term disability benefits. If your insurance does not offer this, also check the insurance provided by your spouse or domestic partner, it may make sense to go with their insurance if these additional coverages are available. It is becoming more common for employers to offer added benefits as part of an employee retention strategy, so it is worth asking about.
  • You can contact a private insurer or contact a health insurance broker to search private insurers for you when looking for the best private health insurance plans.
  • For Medicare, you can use to find a plan.

Additional Examples of Supplemental Health Insurance Plans:-

Before you learn How to Buy Supplemental Health Insurance, you should know about the types of Supplemental Health Insurance Plans. Take a look below:-

  1. Critical Illness or Disease-Specific Insurance: It is a type of supplemental health insurance provides a cash benefit paid directly to you if you require treatment for a specific disease such as cancer. Often, the cash can be spent in any way you would choose and getting your benefit would have nothing to do with how much your insurance paid for your medical costs.
  2. Accident Health Insurance or Accidental Death and Dismemberment Supplemental Insurance:- This type of supplemental insurance typically would reimburse you for medical costs resulting from accidents. Benefits are paid if you die (to your beneficiaries) or are disabled due to a specific accident outlined in the policy. Premiums are usually low and no medical exam is required. Accidents can include car accidents and accidents in the home or at your job. Also, if you lose limbs, fingers, toes, or your vision due to a covered accident, you may be able to collect a percentage of the death benefit.
  3. Hospital Indemnity Insurance:- This type of supplemental health insurance provides a daily, weekly, or monthly cash benefit if you are confined to a hospital stay. Usually, there is a minimum hospital stay before benefits are paid. The cash benefit is paid in addition to any other insurance you may have. Benefits are usually reduced if you are confined to a mental hospital and often you can find plans through an employer that require no health exam.


So, there are a lot of things to consider before deciding to Buy Supplemental Health Insurance Plan for yourself. But once you have decided for yourself that you need it, you need to consider the things mentioned in the above guide to ensure you know How to Buy Supplemental Health Insurance for yourself.

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