Supplemental policies serve the dual purpose of limiting how much you pay for health care while helping protect your finances.

Regular insurance plans, even solid plans, have deductibles, premiums, copays, and other costs that can escalate quickly, easily adding up to thousands in uncovered bills. People often purchase supplemental policies as additional protection, relying on the policies to provide an extra level of assistance in the event of illness or accidents or to help with regular healthcare costs.

Supplemental insurance, sometimes called secondary insurance, has become even more important in an era of rising healthcare costs, declining healthcare benefits, and the increasing prevalence of high-deductible health plans (HDHPs). Because of these trends, consumers may be less protected against medical costs and a supplemental plan can help reduce financial risk.

Plans can also be tailored to cover entire families at an additional cost, adding a level of protection and security for families. And although supplemental insurance is an additional monthly expense, the plans can pay for themselves.