'Tis the Season to Supplement Your Health Coverage

Alli Walsh, Social Media Strategist

'Tis the Season to Supplement Your Health Coverage

The holidays are over, and open enrollment season is wrapping up. You’ve selected your major medical plan and 2017 is off to a great start. But don’t sit back and relax quite yet—because you’ve probably got some coverage gaps to fill.

Major Medical Plans Don’t Cover Everything

Imagine this: you come down with a serious illness or an accident strikes. You receive medical care in the hospital and miss three weeks of work. You’re back on your feet with a treatment plan, and life moves along.

Yet medical bills start arriving in the mail—and your share of the healthcare costs are exorbitant. In addition to meeting your annual deductible for covered medical expenses, you’re on the hook for all of the non-medical expenses you incurred during the incident, like the extra childcare and stockpile of hospital parking fees.  What’s more, you lost income while away from the office.

On top of this, your rent or mortgage payment is due—along with the regular rotation of utility bills—and you still have to fill up the car and put food on the table. You just don’t have the cash on hand to cover everything. If only you had more money in savings…or, better yet, a supplemental insurance policy that delivers cash.

Now is the perfect time to plan ahead for what might happen in the year ahead and ensure your family’s lifestyle is maintained in the event of an injury or illness. 

Supplemental Insurance: Protection for the Unexpected

If the scenario above didn’t convince you, consider these statistics:

  • 44 million workers in the private sector do not have access to paid sick leave1
  • The average hospital stay costs $10,0002
  • 1 in 2 men and 1 in 3 women risk developing cancer in their lifetime3
  • People diagnosed with cancer are more than 2.5x more likely to declare bankruptcy than those without cancer4

You simply don’t plan on getting sick, getting into an accident, or receiving a game-changing medical diagnosis. But a medical incident can leave you and your family strapped for cash and unable to meet your financial obligations. Your primary insurance is designed to pay only a portion of medical related costs, but what about the rest?

A supplemental insurance policy will help you avoid devastating your bank balance. There are a range of products available—from accident to specialty illness—that provide additional benefits for the costs associated with covered incidents, costs that your major medical insurance may or may not cover.

Find the Right Coverage You and Your Family

Because no two individuals or families are the same, and no two plans are the same, it’s important you take these steps to identify gaps in your existing coverage and assess your peace of mind in the case of the unexpected:

  1. Look closely at your major medical plan policy. What’s covered? What out-of-pocket expenses are you responsible for? Do you anticipate using any medical services your plan either doesn’t cover or limits?
  2. What are your needs? If you’re sick or hurt and can’t work will you be able to pay your usual expenses. Is your family budget prepared to handle unexpected out-of-pocket medical payments?
  3. Find reliable coverage from a stable insurance company. Once you’ve made the decision to protect your family’s health and budget from unexpected costs, it’s time to move ahead and apply for a plan you know you can depend on. That means quality coverage at a fair price, plus a hassle-free claims process.

If something happens and you or a family member is unable to work—and medical bills start piling up—the rest of your bills don’t go away. You need something in place to make sure you’re protected when you need it the most. And so you can finally sit back and relax.

Take a look at our line of supplemental insurance products today and to request an in-home visit from one of our agents visit us here: http://www.combinedinsurance.com/us-en/Individuals--Families/Get-Covered.aspx#get-a-quote

 

 References:

1 https://www.whitehouse.gov/the-press-office/2015/09/07/fact-sheet-helping-middle-class-families-get-ahead-expanding-paid-sick

2 https://www.hcup-us.ahrq.gov/reports/statbriefs/sb168-Hospital-Costs-United-States-2011.pdf

3 http://www.cancer.org/cancer/cancerbasics/lifetime-probability-of-developing-or-dying-from-cancer

4 https://www.fredhutch.org/en/news/center-news/2013/05/cancer-diagnosis-risk-bankruptcy.html

For Individuals & Families Coverage = Confidence

Life full of uncertainity.You can't eliminate it.But you can manage it. Supplemental coverage from Combined Insurance helps you pay for things standard insurance doesn't cover. So, you're prepared for the unexpected.

For Employers & Associations Coverage they want

Great talent expect great benefits, which is why we help employers provide the supplemental insurance coverage their workforce wants – while managing the cost of doing so.

 

For Job Seekers Prepared for Success

Being a successful Combined Insurance agent requires focus, discipline and self-motivation. We have tools, programs and opportunities for you to build your skills and grow your career.

Agents & Brokers Grow Your Business

The innovative products and marketing support help you to tell your story; the coverage options and customer service to make sure your clients are completely satisfied.

 

Do the right thing because it's the right thing to do.W. CLEMENT STONE, FOUNDER
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