What are Ancillary Health Plans?
Secondary health insurance coverage that covers miscellaneous medical expenses and typically pay the member directly
Dental Insurance
Regular dental visits and tooth cleanings can help prevent oral and gum disease and helps maintain overall health and well-being.
Dental insurance policies typically cover preventive services such as routine exams and cleanings as well as major services such as fillings, crowns, and implants. Dental insurance is an investment in one's health and can help prevent costly dental issues from happening later on.
Hospital Indemnity
Hospital indemnity plans can help alleviate the financial burden of a hospital stay and provide peace of mind during a difficult time.
These plans pay a lump-sum or daily benefit directly to the policyholder, which can be used to cover expenses related to hospitalization, such as deductibles, copays, and out-of-pocket costs. These plans can also cover expenses related to intensive care, outpatient procedures, and ambulance rides. These are be especially helpful for people who have high-deductible health plans, high maximum out of pocket limits or limited health insurance coverage.
Disability Insurance
Disability insurance policies pay out benefits on a monthly basis and can be obtained through employers, Social Security, or private insurance companies. Disability insurance helps protect people from financial losses if they become unable to work and receive regular income so that they can maintain their standard of living and cover expenses such as mortgage, utilities, credit card payments, auto loans, personal loans, student loans, college or childcare, and groceries.
Applying for social security disability income can take as few as 5 months to start or several years to qualify and see payments. Typically group or private plans take about two weeks to see the first check after the claim is filed and the waiting period is met (varies between 7-90days).
These are very helpful for those that do not have savings (non retirement investments) for 3-5 years of expenses.
Cancer Insurance
Cancer plans provide peace of mind and financial support during a difficult time.
These plans offer a lump-sum cash benefit that can be used to cover medical expenses such as deductibles, coinsurance, prescription drugs, rehabilitation, extended hospital stays, experimental therapy, and everyday expenses such as bills and child care. Cancer plans can help alleviate the financial burden of cancer treatment, which can be expensive and go beyond what is covered by health insurance.
Those diagnosed with cancer that have Medicare for their insurance still have an average out of pocket cost of $8,000 annually!