ANCILLARY INSURANCE

Ancillary insurance is coverage that supplements your major insurance policies. Whether or not you obtain ancillary insurance coverage depends on how much you want to avoid gaps in your Medicare coverage.

There are several types of ancillary insurance that can broaden the coverage you receive with Medicare.

• Coverage for gaps in Medicare Parts A and B coverage: Ancillary insurance can cover copays, deductibles and coinsurance.
• Medical travel insurance: If you travel out of the country, Medicare may limit or not cover your costs. Medical travel insurance can cover doctor, hospital, surgical and pharmacy costs.
• Prescription drug coverage: Adding Medicare Part D prescription drug plan can keep your medication costs lower.
• Dental and vision insurance: Adding this insurance can help you care for your whole family at a more affordable cost.
• Cancer: This type of policy can pay out as a lump sum or cover costs for treatment as they occur. There may be no network restrictions associated with a cancer or other type of specified disease insurance policy.

The decision about ancillary insurance is best made in coordination with an insurance consultant that works for you, not an insurance company. That person can take your entire financial situation into account and help you plan your future. Talk to the experts at MBhealth now.

There are more than a dozen types of ancillary insurance covering a wide range of risks. Many are offered by employers and others are more typically selected by individuals. Here are just some of the types of insurance you might choose to protect your financial future:

• Short-term disability for an inability to work of a year or less
• Long-term disability for disabilities lasting longer than a year and possibly the rest of a person’s life
• Vision insurance to cover exams, eyewear, contact lenses and procedures
• Dental insurance for both preventative and major dental care
• Life insurance to provide support for a family after one’s death
• Accident insurance to supplement medical coverage and cover non-medical costs
• Hearing insurance to pay for diagnosis and treatment plus hearing aids
• Critical illness insurance to cover emergencies like heart attacks, stroke, cancer or other illnesses
• Pet insurance to pay for veterinary treatment of a pet or to provide benefits if the pet dies
• Long-term care insurance to help those with chronic conditions pay for costs not covered by health insurance, due to being in a nursing home for example. 

Of course, every type of ancillary insurance comes with a cost. The right kinds of ancillary insurance to obtain depend on a person’s financial goals. Make the right decisions with the help of experts at MBhealth.

Yes, vision insurance is one of many choices for ancillary insurance. If a person’s health insurance does not already include vision care, vision insurance can fill this gap.

This type of insurance typically covers an annual eye examination and an allowance for prescription eyeglasses or contact lenses. Other services may be available at a reduced cost.

There are many types of eye care that are normally covered by health insurance. In the event of an injury, vision loss, dry eyes, eye diseases or infections or treatment for the effects of diabetes, a person’s health insurance would provide coverage for these costs. Medication is not covered by an ancillary vision insurance but may be covered by health insurance.

Major eye problems such as glaucoma or macular degeneration would also be treated as medical problems.

Individuals with Medicare would need to select an ancillary policy to obtain vision insurance. However, many Medicare Advantage plans include basic vision care in their benefits.

If you need help selecting vision insurance to complete your health coverage, contact the experts at MBhealth today.

Dental insurance is an ancillary insurance chosen by many people because of the high cost of many dental procedures. This becomes even more important when a family is being covered by dental insurance.

Most types of dental insurance offer very good preventative care benefits as these save the insurance company and the customers money. These preventative treatments include:

• Cleanings and examinations: These are normally scheduled at two appointments a year for all those covered by the insurance
• X-rays: A limited number of x-rays are included each year
• Fluoride treatments: These are covered to strengthen teeth against decay
• Sealants: Coverage mostly applies to providing these sealants for children, although some adults may qualify
• Space maintainers: When a child loses a tooth prematurely, space maintainers can help prevent future alignment problems requiring braces

There is normally a waiting period for receiving other services such as fillings, crowns, dental implants or bridges. The more expensive the service, the longer the waiting period is likely to be.

The right dental plan can help keep the whole family’s teeth in better condition while saving the family money. To find your best dental plan, contact MBhealth.

The amount of ancillary insurance you should have depends on your budget, your financial goals and your possible needs for insurance coverage. Your wisest choices will be made after a conference with an experienced insurance consultant that works for you, not the insurance companies. This consultant will help you review your complete financial situation and fit your ancillary insurance coverage into the bigger picture.

After your initial decisions about ancillary insurance, your needs may change when you get married, have a baby, or change jobs or careers. Be sure to review your insurance coverage from time to time.

Basic insurance plans such as those provided under the Affordable Care Act or Medicare may lack types of coverage that are important to you. These basic plans lack these specialized and targeted types of insurance coverage to keep them affordable. Your employer may offer you several types of ancillary insurance to choose from or you can purchase them directly from an insurance company or with the assistance of an insurance consultant.

You can choose from these and several other types of ancillary insurance:

• Vision
• Dental
• Hearing
• Long-term care
• Disability
• Cancer
• Life
• Travel
• Medical travel

For expert help choosing the right types of ancillary insurance to help you meet your goals, contact MBhealth.