Enhance Your Health Plan with Supplemental Coverage
  • Estimated reading time: 3 minutes

    Why Supplemental Coverage

    Medical bills are the #1 reason for bankruptcies in America. Even people WITH health insurance coverage may have trouble paying their medical bills, but supplemental insurance can help. Many people have to claim bankruptcy due to a loss of income that results from an injury or sickness. There are many costs associated with getting sick or injured that are not covered by health insurance. These extra costs may include:

    • Loss of income – which makes it difficult to pay for:
      • Mortgage/rent
      • Car payments
      • Groceries
    • Transportation Costs
    • Childcare
    • Out of pocket medical expenses
    • Out of network providers

    Supplemental coverage provide cash benefits when you need it most. Supplemental benefits are paid directly to you, so you can use them to cover any out of pocket expenses, or use them to pay your monthly bills including your mortgage/rent, car payments, groceries, etc. You can also use the benefits to pay for bills that your medical insurance will not cover. This can include transportation costs, the need for childcare, out of pocket expenses, out of network provider s, etc. In many situations, supplemental plans will leave you with cash in your pocket to use for any other reason that you need it for. The following are the most common supplemental policies:

    Dental & Vision

    The most common form of supplemental coverage, is Dental and Vision. Dental plans typically cover some or all of the costs for oral exams, cleanings, fillings, and X-rays.

    Get a quote for dental and vision here.

    Accidental Medical Coverage

    Did you know that 1 in 8 people seek medical attention from an injury each year?? Accidents happen and accident medical insurance can help you financially when they do. Families with kids in sports or active lifestyles especially appreciate having an accident medical expense plan. These plans pay cash to help cover any unexpected medical bills due to an accident. 

    These plans are accident only policies, so you can usually qualify for a plan no matter what your health status is, and they are typically very inexpensive to add to your health policy.

    Hospital Coverage

    Hospital stays typically average more than $2,000 per day with most stays lasting 4.5 days. For example that’s almost a full work week, and it’s more than $10,000 for one injury or sickness. Can you afford $10,000 for a hospital stay?

    Hospitalization coverage will pay you benefits for a variety of coverage for inpatient stays, outpatient surgeries, long term care, etc. These are benefits that are paid directly to the you – not to your doctor or hospital. 

    Critical Illness Supplemental Coverage

    The diagnosis of a critical illness can dramatically alter your lifestyle and financial well being. 

    Can you afford $50,000? The average loss of income due to critical illness is more than $50,000. When diagnosed with a critical illness, the likelihood of a loss of income is high due to limited sick days and extensive time spent recovering. 

    Can you afford 3 months? Most heart attack patients can’t go back to work for up to 3 months. 

    Critical Illness policies may include a lump sum payout of anywhere from $10,000 to a years worth of income or more. We give our clients protection when they need it most, so they don’t have to worry about how their bills are going to get paid while they are trying to recover from a critical illness.

    Conclusion

    Compass Insurance Advisors specializes in helping our clients purchase affordable health and supplemental insurance coverage. If you have any questions, do not hesitate to reach out to one of our helpful agents. Compass Insurance Advisors are committed to helping our clients understand their benefits, and have studied the market thoroughly and know the highest risk areas that can lead to medical bankruptcy and cover our clients appropriately.

  • Leave a Reply

    Your email address will not be published. Required fields are marked *

Need Help?

Speak To A Certified Compass Agent Today!

(801)901-3519

Monday - Friday 8:00 am - 9:00 PM


Or Find Affordable Insurance Plans

Related Articles

Dynamic Blog Short Description

  • Compare Medicare Plans

    Comparing Medicare Plans Comparing Medicare plans can be confusing. If you’re looking at Medicare options without the help of an agent, keep the following things in mind when comparing your options. Talk to one of our advisors if you have any questions. Coverage vs. Budget When you are d

    Read More
  • Health Insurance News Updates

    Stay up to date on Health Insurance News Compass Insurance Advisors provides the most up to date Health Insurance News. We are committed to keeping our clients and community educated about recent healthcare changes. If you have any questions concerning your health insurance plan, reach out to on

    Read More
  • Health Insurance in Utah

    Purchasing Health Insurance in Utah You have options for purchasing health insurance in Utah. Read on for an explanation of the best options, the different Utah carriers, and the different ways you can enroll. Reach out to a Compass advisor for any additional questions about health insurance in

    Read More
  • American Rescue Plan Act COBRA Subsidy Q&A

    On July 26, 2021, the IRS issued Notice 2021-46, providing additional guidance on the application of the American Rescue Plan Act (ARPA) subsidy for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) in the form of 11 questions and answers. You can

    Read More
  • Stay Safe in the Sun

    Stay safe in the sun! This excerpt is an example of the monthly newsletters we send out to all our companies, so they can provide additional value to their employees. We go above and beyond for the companies that we work with. If you have any questions about your employee benefits, visit our page H

    Read More
  • Health Insurance Metal Tiers

    Through the Affordable Care Act, health insurance plans are categorized between Bronze, Silver, and Gold level plans. Read below for a description of each type of plan. Note: Plans in all categories provide free preventive care, and some offer selected free or discounted services before you meet

    Read More
  • Supporting Working Parents Post-Pandemic

    Even before the COVID-19 pandemic, many working parents struggled to balance work and home life. As employees look ahead to life after the pandemic, the challenges of pulling double duty will likely remain. It will be vital for your company to discuss how to support working parents. 60% of work

    Read More
  • What is Medicare Part B?

    Many new Medicare enrollees have questions about Part B. We've addressed the most commonly asked questions about Part B. What is Medicare Part B and what does it cover?  Medicare Part B is the portion of Medicare that covers doctor visits and outpatient care. This includes outpatient medical

    Read More
  • How to Buy Health Insurance After Open Enrollment

    When Can I Buy Health Insurance? Generally, Open Enrollment for the federal marketplace starts November 1st and runs through December 15th. Open enrollment is the time of year when individuals and families can buy health insurance for the following year. If you did not sign up for health insuran

    Read More

What Others Say About Us

Our Customers Love Us

Let Us Help You Find A Health Insurance Plan

No Extra Cost. Professional Guidance. Quick Analysis. Complete Protection. Simplified Enrollment. Personalized. Support.