Health insurance plans that health insurance companies offer can give you peace of mind to some extent, but regular health insurance plans are usually not enough for these severe illnesses. That is because standard health insurance can’t cover the non-medical costs that cancer, heart attack, or stroke may bring along with them.
Cancer, heart attacks, and strokes are some of the most lethal yet common illnesses that can happen to anyone. While these significant illnesses understandably harm your health, they can also put you in a lot of financial problems due to treatment costs and other expenses.
That is when specialized critical illness insurance comes in handy.
Individual Health Insurance is Not Enough to Fight Cancer, Heart Attack, And Stroke
As per the data provided by the American Cancer Society, about 39 out of 100 men and 38 out of 100 women are likely to develop cancer during their lifetime. Similarly, the American Heart Association showed that 48% of adult men and women in the US have some type of cardiovascular disease. The most common of these cardiovascular diseases is hypertension or high blood pressure. While the treatment options for these diseases have improved over time, there are still chances of getting these diseases. Those that get treatment for these illnesses through their individual health insurance have a recovery period to go through, and the recovery is not just physical but also financial.
How Do Supplement Insurance Plans Help?
Not to be confused with Medicare Supplement plans the critical illness insurance supplement plans allow you to keep your finances safe in case of a critical illness such as cancer, heart attack, or stroke. While it is true that your health insurance can make the treatment for critical diseases affordable, there are hidden costs associated with these diseases. Conditions such as cancer, heart attack, are expensive to treat. While regular health insurance plans do cover the majority of the treatment expenses, you are still left with substantial out-of-pocket bills to pay not to mention the everyday living expenses that you have to manage.
The way supplemental insurance works is that it offers financial protection when you are recovering from cancer, heart attack, or a stroke. Health is more valuable than money, and when you are prepared for the worse, it allows you to choose the best treatment option for yourself. Instead of choosing a treatment solution based on what your bank account will enable you to choose.
How Does A Supplement Insurance Plan Work?
Supplemental insurance plans that offer coverage for cancer, heart attacks, and strokes can be bought even if you have any other health insurance plan already. With that being said, supplement insurance should only be viewed as a way to strengthen your existing health insurance plan. Since it provides affordable health insurance and expense coverage while you are recovering, it acts as a cushion. Simply put it is a safety net that protects you from:
- Everyday living expenses and bills
- At home healthcare during recovery
- Drug bills that your health insurance doesn’t pay for
- Coinsurance payments and high deductible amounts
In case you need to claim the insurance benefit, the policy amount will be paid to the beneficiary. The insurance money can be used to pay your personal expenses or the costs that we mentioned above.
Supplement Insurance Allows You to Live Carefreely
When you have the right insurance, it will allow you to face difficult situations with ease. Instead of being worried about what happens after the illness and during the recovery process, you can focus on your recovery process.
Are you looking for supplement insurance? Companies such as The Benefit Link can help you choose the best Medigap plan according to your need and budget, usually at no extra cost.