Ancillary Insurance

Ancillary insurance benefits are the perfect way to round out every employee benefits package.

Ancillary benefits are a secondary kind of coverage used to supplement group health insurance. Ancillary benefits cover the miscellaneous medical expenses that occur during a hospital stay that are not included in a healthcare policy. Many individuals don’t factor these seemingly insignificant costs into the price of healthcare, and ancillary benefits step in to take care of these surprise expenses. Ancillary benefits can also include other sought-after employee benefits too, such as dental, vision, life, disability, and other types of insurance.

Early Detection of Health Issues

Ancillary benefits can help detect major health problems before they start.

Workforce Investment

Ancillary benefits can also attract and retain employees.

Peace of Mind

Employees can rest assured knowing their ancillary benefits will cover unexpected health issues and the necessary care along with it.

How Does Ancillary Insurance Work?

Ancillary insurance is often used to supplement a main policy, such as health insurance. It can help cover expenses that are not covered by the main policy, such as copayments, deductibles, and coinsurance. Ancillary insurance can also provide coverage for services that are not covered by the main policy, such as dental care or vision care. In some cases, ancillary insurance can even provide coverage for pre-existing conditions that are excluded from the main policy.

Ancillary insurance does not have to be an “all or nothing” deal, either. Depending on care needs, employees may find buying “a la carte” more cost-effective, especially if employers are not participating in the contributions.

Ancillary insurance can be purchased from a variety of sources, including insurance companies, employers, and government programs. Some ancillary policies are available through package policies, such as homeowners’ insurance or automobile insurance. Other ancillary policies must be purchased separately.

Ancillary insurance can be an important part of financial planning. It can help protect assets and income in the event of an unexpected illness or injury. Ancillary insurance can also provide peace of mind in knowing that expenses will be covered in the event of a covered loss.

Why Should Employers Provide Ancillary Insurance?

There are plenty of reasons why employers should provide ancillary insurance, and they center on easing employee financial stress and boosting worker productivity.

Early Detection of Health Issues

Ancillary benefits can help detect major health problems before they start. For example, vision care benefits may include routine eye exams, which can help identify potential vision problems in early-onset. Furthermore, employers will save on healthcare costs and reduce the loss of employee productivity when chronic conditions can be detected early.

Workforce Investment

Ancillary benefits can also attract and retain employees. Many employers realize that ancillary benefits are a “win-win” for themselves and their employees. Employers can set themselves apart from their competitors by offering benefits not typically available in a competitive job market.

Most employees are more likely to stay with their employers because of good benefits packages. In addition, when employees can maintain their health and well-being, they’re likely to remain productive at work.

Peace of Mind

Employees can rest assured knowing their ancillary benefits will cover unexpected health issues and the necessary care along with it. Some might find ancillary insurance especially important if they do not have major medical insurance.