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Supplemental Medical Insurance – What is Supplemental Health Insurance?

Group health insurance rates have been increasing year after year and employers have been forced to make some drastic changes in their employee benefit programs. Many employers have changed their health insurance to high deductible plans. Dental Insurance has been discontinued by some companies as well as vision care. Disability programs have been trimmed down as well as group life insurance. This has created gaps in coverage and employees have had to look for alternatives for coverage that has been omitted or decreased in their benefit package. The answer to this problem has come in the form of supplemental health insurance. Supplemental health insurance companies will enroll employees with these products and the premiums are paid through payroll deduction.

Supplemental health Insurance Products

1. Disability Insurance – Supplemental disability insurance is sold to employees to fill in gaps or replace lost benefits. Long term and short term disability insurance can be purchased with a variety of waiting periods and benefit periods. Read More »

Finding Affordable Health Insurance Options

When it comes to health insurance, it’s very easy to get confused by the variety of plans and options available to you. This article contains a brief guide to the different types of plans available:

Health Maintenance Organizations (HMO)

A Health Maintenance Organization (HMO) is a type of health care plan that provides managed care. This means that the plan has specific rules that patients and doctors have to follow. When you join an HMO, you are usually required to choose a primary care provider, typically a doctor. Your primary care provider has overall responsibility for helping you stay healthy. In most HMOs, you must receive a referral from your primary care provider if you want to see a specialist. To control costs, HMOs set limits on the range of treatments available to members. Except in cases of emergency, most HMOs pay for treatment only if it is provided by doctors and hospitals who belong to the HMO’s network.

Preferred Provider Organizations (PPO)

A Preferred Provider Organization (PPO) is similar to an HMO, but it typically offers members greater flexibility in choosing treatment. With a PPO, you can use any doctor or hospital on a list of preferred providers. If you want to receive treatment elsewhere, the PPO will pay a portion of the cost. Some PPOs do not require you to choose a primary care provider, and you often do not need a referral to see a specialist. Because PPOs have fewer restrictions on treatment than HMOs, they usually have higher premiums. Read More »

How to Get Affordable Senior Medicare Supplemental Health Insurance

Senior citizens these days are presented with a wide variety of options when it comes to supplemental insurance. Most seniors, even if they have Medicare, are going to need additional supplemental insurance to take care of costs that Medicare does not cover. There are so many choices out there that it can be hard to know what to pick. For starters, one could consider Medicare Part B as a supplement to regular Medicare.

Some people may not know the difference between Medicare Part A and Medicare Part B. Medicare Part A is designed to pay for inpatient hospital visits, home health care and hospice care. Medicare Part B, on the other hand, takes care of expenses like outpatient hospital care and doctor appointments. Some medical equipment is also covered under Medicare Part B. Medicare Part D is another supplemental form of insurance that covers prescription medications.

Another option for seniors is a managed care plan. This means that a group of doctors and hospitals have agreed to provide medical care to senior citizens in exchange for payment from Medicare. These plans require you to only use certain hospitals and doctors who are participants in the managed care plan. This is often a good choice if your preferred hospital and doctor are participants. If they are not, you may want to go with a different form of supplemental insurance. Read More »

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