Ancillary Coverage
Ancillary benefits are additional benefits to help supplement your primary health insurance. They provide additional coverage for specific needs that may not be included in your primary plan.
Ancillary benefits can be offered by employers, insurance companies, or as part of a healthcare package. They can provide valuable support for employees and individuals by enhancing their overall healthcare coverage and reducing out-of-pocket costs.
Dental and Vision Insurance
Dental insurance helps cover the cost of dental care, including preventative treatments, fillings, and other procedures, by paying a portion of the covered dental costs in exchange for premium payments.
Vision insurance helps cover costs of exams, glasses, and contact lenses, offering benefits beyond what standard health insurance typically covers.
Critical Illness Benefits
No one is exempt from experiencing a serious or sudden illness. According to the Centers for Disease Control and Prevention, over 795,000 people in the United States have a stroke each year.1 The diagnosis of a critical illness such as stroke, heart attack, or cancer can lead to an immediate financial strain on any family. Health insurance doesn’t always cover 100% of the expenses, leaving individuals with the financial responsibility. Critical illness policies help reduce the financial burdens resulting from a serious illness by providing a cash payout to help cover medical and other expenses.
Accident Coverage
Accidents happen — in fact, 87% of emergency department visits are due to an injury. Most Americans do not have emergency funds set aside to cover the deductible or additional out-of-pocket responsibilities. In fact, according to Bankrate's annual emergency savings survey, 22% of U.S. adults claim they have no emergency savings and 57% aren't comfortable with what they have for emergency savings.
When those extra expenses start adding up, they can lead to financial strain. With accident insurance, the cash benefit payout can help you pay for these expenses. Accident insurance is a supplemental insurance policy that helps cover out-of-pocket costs after an accident. It's usually purchased in addition to a primary health insurance plan.
Disability Benefits
Disability benefits replace a portion of you income when you can no longer work due to a disabling illness or injury. A short-term disability policy covers temporary disabilities. Long-term disability policies cover income loss that are expected to be permanent. LTD policies have many options such as a cost of living increase, partial disability rider, and/or premium waiver. Disability insurance protects you from the financial risk of losing your income when you become disabled and can't work.