Supplemental Health plans help cover the gaps that can exist with your health insurance plan. Today, many employers offer their employees a high deductible health plan, meaning that employees must meet a $1,000, $3,000 or even higher deductible before their health plan begins to pay. Most supplemental medical plans pay a cash benefit for each day a covered member is in the hospital. Plans can also be designed to cover other services such as x-rays, diagnostic tests, ER visits, and even doctor visits. Some of these plans are also HSA compatible, meaning they can be offered along side your qualified high deductible health plan and do not effect an employee’s ability of contribute to a HSA.
Employers often offer these affordable plans to help employees create a safety net to pay for unexpected medical expenses. Plans pay a cash benefit directly to the employee and the money can be used to pay medical bills or may be used to keep up with other living expenses. There are a variety of supplemental health plans, so you’ll want to check with your insurance broker for more information.