Supplemental Health Insurance

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Supplemental Health Insurance pays in addition to any other health insurance you have.  More importantly, Supplemental Health Insurance pays you (the insured person) the proceeds from the insurance and not the health service provider.  In other words, Supplemental Health Insurance puts money in the insured person’s pocket.  Supplemental by its definition in this instance means  insurance in addition to the Major Medical insurance most people have.  In the event of a serious illness or catastrophic accident, there will be many aspects of the injured person’s care and recovery that will not be adequately covered by a Major Medical insurance or not covered at all.  This is where Supplemental Health Insurance comes in—to fill the gaps.  Gap Insurance is another name for Supplemental Health Insurance.  While there are many types of Supplemental Health Insurance, the most popular ones are highlighted below:


Cancer InsuranceA Cancer Insurance plan pays Living Benefits (cash money) to a covered individual upon diagnosis of a cancer regardless of treatment, actual expenses or other coverage.  Living Benefits payments can be reimbursed amounts or indemnity amounts depending on the plan of coverage, and are for covered conditions diagnosed at least 30 days after the policy’s effective date. (Some insurance companies may require a longer waiting period).

The National Institutes of Health estimated that the overall costs of cancer in 2009 were more than $216 billion. This included $86.6 billion for direct medical costs – the total of all health expenditures, and $130.0 billion for indirect mortality costs – the cost of lost productivity due to premature death.  According to the 2016 Cancer Facts & Figures report from the American Cancer Society, in 2014 Americans paid nearly $4 Billion out-of-pocket for cancer treatments.  It is stated that 67% of the cost of cancer treatment was non-medical and Medical Insurance only paid for medical treatment.  Two key findings of this report are:

· Even with insurance, cancer patients often face unpredictable or unmanageable costs including high co-insurance, high deductibles, having to seek out-of-network care, and needing a treatment that is not covered by their plan.

· Newly diagnosed cancer patients often experience their highest out-of-pocket costs in the first one to two months following a positive screening or diagnosis until they meet their applicable deductible and out-of-pocket maximums.

For these and many more reasons, you should get Cancer Insurance. Cancer Insurance can help you to  preserve your savings, protect your family from financial hardship, and help you to concentrate on getting well.


Critical Illness InsuranceA Critical Illness Insurance plan pays Living Benefits (cash money) to a covered individual upon diagnosis of a critical illness regardless of treatment, actual expenses or other coverage.  Whereas a Cancer Policy is clearly health insurance, Critical Illness insurance can be built on either a life insurance or health insurance (chassis) foundation.  If the base policy is life insurance, the Critical Illness benefits will be health insurance riders on the life insurance policy.  Critical Illness Insurance pays a lump sum of money to the insured person for diagnosis of such illnesses as:

· Cancer

· Heart Attack

· Strokes

· Renal Failure

· Major Organ Transplant

· Terminal Illness

· Total Disability

· Major Heart Surgery

· Angioplasty

· Death


Hospital Indemnity InsuranceA Hospital Indemnity Insurance plan pays Living Benefits (cash money) to you or a covered insured to assist with out-of-pocket medical expenses regardless of actual expenses or other coverage when you are confined to a hospital. Most Major Medical insurance do not cover all of your medical expenses leaving a significant portion for you or the covered insured to pay out-of-pocket.

Indemnity means “protection and security against damage or loss”.  Hospital Indemnity insurance helps protect your assets (savings, retirement fund, etc.) against unwanted reduction by providing money to pay for deductible, coinsurance, copayments and other expenses not covered by any other health insurance.  All benefits are paid directly to you unless you specify otherwise, and can be used to supplement the costs of such services as:

· Hospital Confinement

· Skilled Nursing

· Outpatient doctor or surgical

· Emergency Room or Ambulance


Home Health Care InsuranceThe number of Americans over age 65 is expected to rise from 56 Million in 2020 to over 84 Million in 2050, and 40% of them will need some from of daily assistance. This is according to an article published on June 28, 2016 at Even those people who are leading a healthy lifestyle should plan for the unexpected issues leading to the need for paid assistance.  Currently, about 73% of all Home Health Care is given at home by care givers who are not formally trained and do not receive compensation*, but there is the 27% that may require therapy and rehabilitation that can only be rendered by trained professionals.


In 2016, a Genworth survey revealed that the cost of a Home Health Aid was $44,332 annually, based upon a 44 hours per week 52-weeks year**. Out-of-Pocket costs for recovery from accidents or illnesses can be quite expensive for seniors considering that Medicare has very stringent rules and regulations regarding what will be covered for Home Health Care.  In most cases, Medicare only covers Home Health Care after a hospital stay or major surgery and for a limited number of days in the year.  Out-of-Pocket costs for accidents and illnesses with long recovery time can be very expensive.  For example: A hip replacement recovery time could take 4 to six weeks before the injured person can function adequately again, and a knee replacement recovery could take 3 months or more.  If these occurred in close proximity in time, the Medicare allowed paid recovery time may not be enough and the additional recovery cost will have to be borne by the  injured person.





A Home Health Care Insurance plan pays Living Benefits (cash money) to a covered insured for recovery from an unexpected accident or illness in their home surrounded by family and friends.  Plans can cover physical, speech and respiratory therapies, and other treatment requiring skilled assistance.  Benefits are paid directly to the covered insured or to designated providers, and are paid in addition to any other insurance or coverage the insured has.



Short Term Care Insurance:  If you are someone who understands the need for long-term care insurance but finds the premiums too expensive, A Short Term Care policy may be just the product for you. A Short Term Care policy will cover the majority of all nursing home stays  up to 360 days of nursing home benefits per confinement, at a price that is much more affordable than long-term care insurance.  It helps to provide a degree of protection against the depletion of your assets should you require a brief stay in a nursing facility, and it allows you time to make critical financial arrangements if long-term nursing home care becomes necessary.


Consider the advantages of a Short-Term Care Policy:

· Covers all levels of care
You are covered for any level of care including custodial care.


· No prior hospitalization required

You may enter the nursing facility directly from your home.


· Flexible benefits

You select the benefits to meet your budget and needs.  Depending on the company, daily benefit can range from $20 to $200 per day; Benefit period of 180 or 360 days; Elimination (waiting) period of at least 20 days.


· Full restoration of benefits

Plan benefits can include 100% of your benefits paid to  you to be restored once you have been confinement free for six consecutive months.  Lifetime maximum benefit can be up to two times the benefit period selected; i.e., a 360-day benefit plan provides a lifetime maximum benefit of 720 days.


· Full benefits paid for Alzheimer’s, senile dementia and Parkinson’s


Cognitive impairments can be covered as any other illness


· Easy access to benefits

Benefits are payable when a stay is medically necessary as determine by

your physician and when you are unable to perform two of the basic

Activities of Daily Living (ADLs).


· Guaranteed renewable for life

The Company may not cancel your policy as long as your premiums are paid

on time.


· Protection

A short-term care policy protects the savings you have worked so hard to

accumulate, enables you to maintain your financial independence and gives

you choice by covering any level of confinement including custodial care.



Accident Insurance“Accidents Happen!”, and they will continue to happen.  Accidents are so named because they are unplanned, and they can happen to anyone at anytime.  No one plans to have accidents, but everyone should plan for when they happen.  When an accident interrupts your livelihood or that of a family member, having an Accident Insurance Plan is invaluable.


An Accident Insurance plan helps to pay for out-of-pocket expenses incurred by an insured for the many accidents that can happen at anytime.  The benefits of an Accident Insurance policy can include payments for:




* 2014 Book, “About Long Term Care at Home”, Thomas Day, How to Deal With 21 Critical Issues  Facing Aging Seniors.

** Long Term Care Costs & Cost of Care in 2016, Genworth Cost of Care Survey, conducted by CareScout®, April 2016.

Not all plans are available in all states and zip codes. Short-Term Care is not available in Florida. You may visit the each company’s website shown below to determine what plans are available in your zip code. 






Continental General Health Insurance Co.


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Short-Term Care

Aetna—Continental Life Insurance Co of Brentwood, TN


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Hospital Indemnity Home Health Care

United Security Assurance Company


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Hospital Indemnity Home Health Care

Medico Insurance Company


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Hospital Indemnity Short-Term Recovery Care

Colorado Bankers Life Insurance Company


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Critical Illness

American General Life Insurance Company



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Critical Illness

Humana Workplace voluntary Benefits


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Critical Illness

Manhattan Insurance Group


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Critical Illness

Hospital Indemnity

United American Insurance Company


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Hospital Indemnity

·  Disability Income (Rider)

·  Accidental Death

·  Hospital Admission and Confinement

·  Specific Injuries

·  Intensive Care     

·  Emergency Room Treatment

·  Surgery

·  Transportation

·  Lodging

·  Air and Ground Ambulance

·  Follow-up Doctors Visits

·  Emergency Dental Work