Your health insurance plan covers costs after you have met your deductible and paid your copays. What insurance does not pay is expenses you may incur when you are kept in the hospital overnight. Hospital indemnity insurance pays a per-day amount for each night you stay in the hospital. A study by the University of… Continue Reading ›

Health insurance should be expansive enough to cover all your medical expenses. In reality, there are co-payments, non-covered expenses and deductibles that you must pay out of your own pocket. Even employer-sponsored health insurance – which covers most of the people with insurance – requires employees to foot some of the bill, which can add… Continue Reading ›

In addition to dental and health benefits, life insurance is one of the ancillary benefits that people look for in a comprehensive employer benefits package. It’s also something you can buy on your own without assistance or restrictions from an employer. Life insurance pays whoever you designate as a beneficiary a lump sum upon your… Continue Reading ›

Long-term care insurance is designed to supplement your health insurance as well as Medicare and Medicaid should you or a family member require long-term care. These policies reimburse you a daily amount for services that assist with daily living, like bathing, dressing or eating. Before choosing a long-term care policy, there are some things you… Continue Reading ›

A fixed indemnity plan pays a fixed amount for covered services, and those payments are made directly to you as the insured. There is usually no deductible as there would be with major medical plans. This ancillary product is often referred to as “fee-for-service” because it has a fixed benefit for expenses. What is a… Continue Reading ›

Health benefit insurance plans (HBI) are new on the insurance market. These plans are designed to protect you against the high out-of-pocket costs that you could face with major medical insurance. HBIs combine many different types of coverage, such as critical illness protection, accident coverage and others to create a supplemental insurance package that protects… Continue Reading ›

After dental insurance, vision insurance is one of the most sought-after ancillary benefits. Although the term vision insurance is commonly used, these plans are often stand-alone plans that are better described as annual wellness benefits or discount plans. Vision coverage usually pays for annual examinations and may provide benefits for eyeglasses or contacts. Major eye… Continue Reading ›

Many employers are now offering critical illness coverage to offset the rising costs of co-payments and premiums. Critical illness coverage pays a lump sum if you get a specific illness. Many times, the policies pay the lump sum if you are diagnosed with cancer or have a heart attack or stroke. It is designed to… Continue Reading ›

With co-pays and deductibles increasing each year, you might face mounting medical bills after an accident even with health insurance. An accident can happen at any place, any time. Although you may have extra coverage if you’re injured in an auto accident, and your employer will be required to pay lost wages as well as… Continue Reading ›