Supplemental insurance provides additional coverage to individuals who already have a primary insurance policy. This type of insurance can be a great way to help protect yourself from unexpected health costs and help make the most out of your current coverage. Supplemental insurance can include coverage for deductibles, copays, and out-of-pocket expenses. However, the question remains: is supplemental insurance affordable? The cost can vary based on age, health, policy type, and coverage needs.
Factors That Determine The Cost Of Supplemental Insurance
Several factors can impact the cost of supplemental insurance, some of them being:
Age
Usually, younger individuals or those with fewer pre-existing health conditions will generally pay lower premiums than older individuals or those struggling with chronic diseases.
Type of Policy
Supplemental policies range from basic plans to more comprehensive ones that cover a wider range of benefits. The monthly premiums of these policies can vary based on the extent of coverage provided, the insurance company, the age of the policyholder, the health status of the policyholder, and the state in which they reside.
It is important to note that supplemental insurance isn’t solely focused on paying for medical costs. Certain types of policies also provide coverage for other areas, such as dental care, prescriptions, and vision care, that may not be covered in your primary insurance policies. Most plans may help cover some or all these areas, with premiums varying based on the type of insurance and level of coverage provided.
Examples Of Supplemental Insurance Policies
You can find several types of supplemental insurance policies, each with varying costs and benefits. Below are a few examples of supplemental policies:
Dental Insurance
Supplemental dental insurance can be purchased to help bridge the gaps in an individual’s dental or medical insurance coverage. Dental insurance can be very affordable as well. For example, Delta Dental offers plans with monthly premiums starting from $29.10 per month. (1) These plans can help cover routine check-ups, cleanings, and other basic services, with additional coverage available for more complex procedures. The price of your coverage will depend on the insurance plan you choose.
Vision Insurance
Supplemental vision insurance is another type of coverage that can be affordable for many people. VSP offers plans with premiums starting from $13 per month. (2) Vision insurance can offer coverage for services such as routine eye exams, glasses or contact lenses, and discounts on other services, based on the chosen plan.
Accident Insurance
Accident insurance is a supplemental policy that offers a lump sum payment in case of accidents. These policies can be very affordable, with some plans starting from $20 per month. For example, Aflac offers an accident insurance plan with premiums starting from $25 per month (3).
The Bottom Line On Supplemental Insurance Costs
Supplemental insurance can be a cost-effective way to help protect yourself against unexpected medical costs. By understanding how various factors such as age, health, and coverage type affect premiums and taking the time to compare plans, you can find a policy that meets your needs without breaking the bank. Make sure to research different policies, compare them, and choose the supplemental insurance coverage that suits your needs. While supplemental insurance may not be necessary for everyone, those who need additional coverage may find that it is a worthwhile investment.
Footnote Sources
1 Forbes. “Delta Dental Insurance Review 2023”
2 Investopedia. “Best Vision Insurance Companies”
3 Aflac. “What is Accident Insurance?”
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact a local Aflac agent.
Aflac Coverage Dental (A82000 Series) - In Arkansas, Policies A82100RAR–A82400RAR. In Delaware, Policies A82100R–A82400R. In Idaho, Policies A82100RID–A82400RID. In New York, Policies NY82100–NY82400. In Oklahoma, Policies A82100ROK–A82400ROK. In Oregon, Policies A82100ROR–A82400ROR. In Pennsylvania, Policies A82100RPA–A82400RPAR. In Texas, Policies A82100RTX–A82400RTX. In Virginia, Policies A82100RVA–A82400RVA.
Vision (VSN100 series) - In Arkansas, Policy VSN100AR. In Delaware, Policy VSN100. In Idaho, Policy VSN100ID. In New York, Policy NYVSN100. In Oklahoma, Policy VSN100OKR. In Oregon, Policy VSN100OR. In Pennsylvania, Policy VSN100PA. In Texas, Policy VSN100TX. In Virginia, Policy VSN100VA.
Accident (A37000 Series) - In Arkansas, Policy A37000AR. In Delaware, Policies A371AA & A371BA. In Idaho, Policy A37000ID. In New York, Policy NY37000. In Oklahoma, Policy A37000OK. In Oregon, Policy A37000OR. In Pennsylvania, Policy A37000PA. In Texas, Policy A37000TX. In Virginia, Policies A371AAVA & A371BAVA.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.
Tier One Coverage
Dental, Vision, Hearing (DVH, T80000 Series) - In Arkansas, Policy T80000AR. In Delaware, Policy T80000. In Idaho, Policy T80000ID. In Oklahoma, Policy T80000OK. In Oregon, Policy T80000OR. In Pennsylvania, Policy T80000PA. In Texas, Policy T80000TX.
Dental claims are administered by Aflac Benefits Solutions, Inc. Vision claims are administered by EyeMed Vision Care, LLC. Hearing claims are administered by Nations Hearing.
NOTICE: The coverage offered is not a qualified health plan (QHP) under the Patient Protection and Affordable Care Act (ACA) and is not required to satisfy essential health benefits mandates of the ACA. The coverage provides limited benefits. Tier One Insurance Company is part of the Aflac family of insurers.
Accident (T37000 Series) - In Arkansas, Policy T37000ARR. In Delaware, Policy T37000. In Idaho, Policies T37100IDR, T37200IDR, & T37300IDR. In Oregon, Policy T37000OR. In Oklahoma, Policy T37000OK. In Pennsylvania, Policies T37000PA, T37300PA, & T37500PA. In Texas, Policy T37000TX.
Tier One coverage is underwritten by Tier One Insurance Company.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY or VA. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions.
Aflac’s family of insurers include Aflac, Aflac New York, Continental American Insurance Company, and Tier One Insurance Company.
Aflac WWHQ | Tier One Insurance Company | 1932 Wynnton Road | Columbus, GA 31999.
Senior PR & Corporate Communications contact: Angie Blackmar, 706-392-2097 or ABlackmar2@aflac.com
