Supplemental insurance, is it really for me? 

The Consumer Financial Protection Bureau (CFPB) did a study that found that medical debt is one of the main reasons why people in the United States have debt. 

The study found that up to 43 million Americans have medical debt on their credit reports, and the average amount of medical debt per person is about $2,200.

The study also found that medical debt can have a big effect on a person's or family's financial situation. For example, many people said they had trouble paying for things like housing, food, and utilities. Also, many people said that their medical condition caused them to lose their jobs or make less money, which made their financial situation worse.

Major medical insurance can help pay for some of the costs of a diagnosis and treatment, but it might not cover all of the costs of an illness or injury. For example, major medical insurance may not cover lost wages or other costs of daily living, like mortgage or car payments, if you get sick or hurt and can't work.

Extra health insurance policies, like disability insurance or critical illness insurance , can help pay for these costs. These policies can help lessen the financial impact of a major medical diagnosis and treatment by giving the insured a lump sum payment. 

Worth It?

You might be asking yourself, "Do I really need extra health insurance?" At first glance, it might look like a waste of money. After all, the point of major medical insurance is to pay for medical care that is needed because of an accident or illness. But when you look more closely at what major medical insurance doesn't cover, it's clear that supplemental health insurance can be a very important part of your insurance portfolio.

An in-depth look at the limits of major medical insurance

Major medical insurance is meant to help pay for medical care that is needed because of an accident or illness. It might not cover everything, though. In the event of an accident, major medical insurance may pay for hospitalization and doctor's bills, but it won't pay for things like lost wages, mortgage payments, or car payments. These costs can quickly add up and make it hard for families to pay their bills.

The Johnson Family: A Case Study

This was a hard lesson for the Johnson family to learn. After Mr. Johnson was hurt in a car crash, he couldn't work for a few months. His major medical insurance paid for his medical care, but it didn't pay for the money he lost from not being able to work. The family fell behind on their mortgage and car payments very quickly, and it was hard for them to make ends meet. If they had additional health insurance , they could have gotten more money to help pay for these costs.

The answer is extra health insurance.

Supplemental health insurance is meant to cover what major medical insurance doesn't cover. Major medical insurance may pay for some medical costs, but supplemental health insurance can help pay for other costs that come up because of an accident . What's the best? Supplemental health insurance is often less expensive than major medical insurance, so many families can get it.

The Rodriguez Family: A Case Study

When Mr. Rodriguez was diagnosed with cancer, his family learned how important it is to have extra health insurance. Even though his major medical insurance paid for his care, the family still had to pay for things like transportation to and from doctor's appointments, meals, and child care. The family had extra health insurance that gave them a lump sum payment that helped them pay for these costs and gave them much-needed money during a hard time.

How Much Extra Health Insurance Is Worth

One of the main reasons to think about getting extra health insurance is that it gives you peace of mind. Knowing that you have extra money to fall back on in case of an accident can be very helpful. Also, supplemental health insurance can be very helpful if an accident leaves you disabled or in the hospital for a long time. In these situations, the extra money can help pay for ongoing medical costs and other costs.

The Lee Family: A Case Study

When their daughter was diagnosed with a rare illness, the Lee family learned how important it is to have extra health insurance. The illness needed more than one surgery and ongoing medical care. Their major medical insurance helped pay for some of the costs, but not all of them. The family had extra health insurance that gave them money every month to help pay for ongoing medical care, transportation, and other costs.

What supplemental health insurance gives you right away

Supplemental health insurance gives the person who has it direct financial benefits . For example, some policies will pay out a lump sum if you have an accident or get sick. This money can be used to pay for a wide range of costs. This can help families who are having trouble making ends meet because of an accident or illness.

The Brown Family: A Case Study

When Mr. Brown was hurt in a car accident and couldn't work for a few months, his family benefited directly from his extra health insurance. Even though their major medical insurance paid for his medical care, it didn't pay for their mortgage or car payment, so they fell behind on their bills. They were lucky to have extra health insurance, which gave them a lump sum payment that helped pay for these costs and gave them some financial relief during a tough time.

A clear answer and solution

It's clear that supplemental health insurance is something that every American should have. If you know what major medical insurance doesn't cover and what supplemental health insurance is good for, you can choose the type of coverage that's right for you.

Don't forget about the Johnsons, Rodriguezs, Lees, and Browns. These families learned the hard way, through personal experience, how important it is to have extra health insurance. Don't wait until you or someone you care about gets hurt or sick. Be proactive and protect your financial well-being by getting health insurance on top of what you already have.

What now?

If you want to find out more about supplemental health insurance and how it can help you and your family, talk to an insurance agent in your area. They can help you find the right coverage for your needs and budget, so you can rest easy knowing you're ready for anything.

In conclusion, don't forget how important it is to have health insurance on top of what you already have. It can help you out financially if you have an accident or get sick, and it's often less expensive than you think. So buy supplemental health insurance today and take the first step toward protecting yourself and your family.