Fill the Gaps Your Health Insurance Leaves Behind
Health insurance is essential, but it doesn’t cover everything. Even with a solid health plan in place, out-of-pocket costs from deductibles, copays, coinsurance, and non-covered expenses can add up fast when something unexpected happens.
Supplemental insurance helps fill those gaps by providing additional financial protection when you need it most. At PHX Insurance Advisors, we help individuals, families, and businesses across Arizona find supplemental coverage that strengthens their overall protection without significantly increasing their monthly costs.
Supplemental insurance refers to a category of insurance plans that work alongside your primary health insurance to provide additional financial benefits. These plans don’t replace your health coverage, they enhance it by helping cover the out-of-pocket costs that your health plan may not fully address.
When a covered event occurs, such as an accident, a hospital stay, or a critical illness diagnosis, supplemental plans typically pay benefits directly to you in cash. You can use those funds however you need: medical bills, mortgage payments, groceries, childcare, or any other expense.
We help clients evaluate four primary types of supplemental coverage:
Accident insurance provides cash benefits when you’re injured in a covered accident. Benefits are paid regardless of what your health insurance covers, giving you additional financial support during recovery.
Common covered events include:
Accident insurance is particularly valuable for physically active individuals, families with children involved in sports, and professionals in high-risk industries like construction, trades, and healthcare.
Critical illness insurance provides a lump-sum cash payment when you’re diagnosed with a covered serious illness. This payment is made directly to you and can be used for any purpose: medical costs, household bills, travel for treatment, or anything else you need.
Commonly covered conditions include:
The lump-sum nature of critical illness coverage makes it a powerful financial tool. While your health insurance covers medical treatment, critical illness insurance helps cover everything else that comes with a serious diagnosis: lost income, travel, childcare, and everyday bills that don’t stop because you’re sick.
Hospital indemnity insurance pays a fixed daily, weekly, or per-event benefit when you’re admitted to a hospital or undergo certain procedures. These payments supplement your health insurance by helping offset the out-of-pocket costs associated with hospital stays.
Benefits may include:
For individuals with high-deductible health plans, hospital indemnity insurance helps bridge the gap between what your health plan covers and what you’ll actually owe after a hospital stay.
Disability insurance replaces a portion of your income if you become unable to work due to illness or injury. For anyone whose household depends on their paycheck, disability coverage provides essential protection against the financial impact of lost income.
Two types of disability coverage are available:
Disability insurance is especially important for self-employed professionals, independent contractors, and primary income earners who don’t have employer- provided disability benefits.
Consider a common scenario: you have a health insurance plan with a $5,000 deductible. You’re in an accident that requires surgery and a three-
day hospital stay. Your health insurance covers the procedure, but you’re still responsible for the full $5,000 deductible plus copays, coinsurance, and any out-of-network charges.
With supplemental coverage in place, your accident insurance and hospital indemnity plan could provide enough cash benefits to cover most or
all of those out-of-pocket costs, leaving your savings intact and your bills paid.
Supplemental insurance is valuable for virtually anyone, but it’s especially important for:
One of the biggest advantages of supplemental insurance is its affordability. Most supplemental plans cost between $20 and $75 per month depending on the type of coverage and benefit levels selected. For a relatively small monthly investment, you gain a meaningful layer of financial protection that can make a significant difference when the unexpected happens.
We help you evaluate which types of supplemental coverage make sense for your situation and match you with plans that provide the right level of protection at a price you’re comfortable with.
No cost, no obligation. Our advisors will compare plans from top carriers and find the best fit for you.
