Health insurance coverage is taken almost for granted in the United States and the vast majority of people either have or are looking for health insurance.
In fact, with the passage of the Affordable Care Act (ACA) in March 2010, it became technically illegal not to have insurance. While, at the federal level, the tax penalty no longer applies, the requirement does.
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“There is no federal penalty for not having health insurance since 2019, however, some states and jurisdictions have enacted their own health insurance jurisdictions. The federal tax penalty for not enrolling in health insurance was removed in 2019 due to changes made by the Trump administration.”
In fact, you may have to pay a fine if you are uninsured in the following states:
- California
- Massachusetts
- New Jersey
- Vermont
- Rhode Island
- District of Columbia
However, for most people, we have great health coverage, but we still often have out-of-pocket costs to contend with. And this is where supplemental health insurance may be the answer.
Consider supplemental health insurance
Because not everyone is familiar with it, it is fair to ask, What is supplemental health insurance?
Simply put, it is an additional or additional insurance plan that can be purchased that helps pay for health care costs that are not covered by a person’s regular health insurance plan. These petty cash costs include co-payments, coinsurance, and deductibles.
The primary purpose of any supplement plan is to reduce medical costs by covering as much of the individual’s personal costs as possible.
So, what are examples of supplemental health insurance plans?
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“[T]These health plans include dental plans, critical illness plans, and vision plans. They include disability plans, long-term care plans, and travel insurance to cover health care when you’re outside your health plan’s network. “
When we buy health insurance, we often buy dental insurance, vision insurance, and sometimes even prescription drug coverage as well, to cover some drug costs. All of this is making affordable health insurance a reality for many people.
In addition, there are also other types of supplemental insurance such as death and amputation insurance, cancer policies, and Hospital reimbursement plans.
Perhaps the most popular supplement plans, especially among seniors, are Medicare supplemental insuranceor Medigap plans.
Supplemental insurance health plans may pay benefits to either the insured person or the health care provider or facility. The actual amount paid and how it is spent depends on the type of plan.
Who might need additional insurance?
Major health insurance coverage in California, as well as most other states, is not 100% comprehensive. In other words, there are always costs and expenses for health plan members.
These costs include deductibles, coinsurance, co-payments, and uncovered drug costs, as well as elective or cosmetic procedures, hearing aids, alternative therapies, and long-term care. When you talk specifically about Medicare coverage, some of the items and services Medicare does not cover Include:
- Long-term care (also called foster care)
- Most dental care
- Eye exams related to the prescription of glasses
- dentures
- Plastic surgery
- Acupuncture
- Hearing aids and their fitting exams
- routine foot care
For those who use Medicare, it is very common to purchase supplemental insurance in the form of Medicare Advantage plans, sometimes called “Part C” or “MA Plans.”
But, if you’re not Medicare, whether a supplemental health plan is right for you depends largely on your health, the costs of the plan you might consider, and the benefits of the policy you’re considering purchasing.
Supplemental insurance can be a smart choice for you if you think you have above-average health risks. If you have a family history of cancer, for example, it’s worth considering cancer insurance coverage. It can also help pay for non-medical expenses that can result from an illness or injury, such as lost income or childcare expenses.
In short, the basic reasons for purchasing supplemental health insurance can be summarized in this way:
- Your withholding amount is greater than your savings account.
- You will incur additional childcare expenses if you are sick or injured.
- You do not have savings to cover downtime due to a long-term illness or debilitating injury.
The bottom line is that supplemental health insurance provides an additional level of coverage by helping to cover personal expenses and other costs not covered by your main health insurance plan.
JC Lewis Insurance is your hero for high quality and affordable insurance
JC Lewis Insurance is a team of expert insurance brokers and family owned business based in Sonoma County, California, since our founding in 1979.
We are proud to present Individual and family health insurance plans Only one of the leading health insurance companies licensed to do business in California and several other states. Additionally, we specialize in employee benefits for small businesses with 1-100 employees.
As experienced, professional and local insurance brokers, we are licensed and approved by each of these insurance companies to offer coverage to individuals, families and small group employers, as well as offer Medicare supplemental insurance and prescription drug plans for seniors.
If you are self-employed, or if your employer does not offer health benefits, an individual or family plan may be the best option for you or your family.
When you’re shopping for supplemental, vision, dental, or general health insurance for your employees or for you and your family, you likely have many questions and concerns. That is why we welcome JC Lewis Insurance Services your questions About insurance coverage and I want you to know that you can be confident We will help you find the right solution.
