Do You Need Supplemental Health Insurance?
Although many supplemental policies are not overly expensive, duplicate coverage may be unnecessary for many people.
Additionally, before purchasing a supplemental policy, be sure you understand its limitations and benefits.
Hero Images / Getty Images
It is important to understand that supplemental insurance is not regulated by theAffordable Care Act.
(Medigap plans cannot be paired withMedicare Advantageplans).
Those plans can no longer be purchased by newly-eligible Medicare beneficiaries.
But plans can still be purchased that cover the rest of the out-of-pocket costs under Original Medicare.
Alternatively, adult dental and vision plans can be purchased directly from an insurer.
Insurance companies may incorporate dental and vision into a medical plan or offer them as a separate plan.
They’re often combined and sold together.
The benefits vary from state to state due to local insurance regulations.
AD&D insurance does not pay for any deaths related to illness, suicide, or natural causes.
The money can then be used to pay the health insurance deductible.
Summary
Supplemental health coverage can be a useful addition to major medical coverage.
Supplemental insurance is never intended to stand alone as your only health coverage.
Supplemental insurance is just that: a supplement.
MedicareResources.org.Medigap eligibility for Americans under age 65 varies by state.
Medicare.gov.Compare Medigap plan benefits.
Kaiser Family Foundation.A snapshot of sources of coverage among Medicare beneficiaries.
Kaiser Family Foundation.Medicare advantage 2020 spotlight: First look.
HealthInsurance.org.How is vision care covered under the Affordable Care Act?
Health Benefits and Coverage.Dental coverage in the marketplace.
Internal Revenue Service.Publication 969 (2023), health savings accounts and other tax-favored health plans.
