What are ancillary benefits?
Ancillary benefits, also called supplemental benefits, are benefits that are not part of your core health insurance.
In other words, these benefits aren’t generally part of your main health insurance. They are offered in addition to that coverage.
Benefits that fall into the ancillary category typically include:
Dental Insurance. This benefit helps to cover the cost of visiting the dentist for basic or preventive services such as teeth cleaning, x-rays, and fillings.
Vision Insurance. This benefit helps to cover the cost of vision care including eye exams, eyeglasses, contacts, etc.
Disability Insurance. This benefit provides income protection to individuals who have become disabled for a period of time and are unable to work.
Life Insurance. This benefit provides financial assistance in the event that a covered individual passes away. It provides a sum of money based on what the policy was written for.
Accident Insurance. This benefit offers financial insurance in the event that a person experiences injury or death as the result of an accident.
Critical Illness Insurance. This benefit provides additional coverage for medical emergencies such as heart attacks, strokes, or cancer.
It is important to note that these are not all of the benefits that would fall under ancillary benefits; however, they are the most common you will encounter.
When it comes to who pays for ancillary benefits, there are two categories to consider:
Voluntary benefits are those that are offered by an employer and paid for entirely by the employee. Contributory benefits are those where the cost is shared between the employee and employer. In some cases, these benefits may be fully covered by the employer. These situations are dependent on the employer and carrier options.
Health insurance is complex and can be very confusing to many people. Thankfully, you are not alone.
Here at Gannon Associates Insurance, we have a team of dedicated team members who specialize in group benefits and are committed to partnering with you to develop a comprehensive protection plan that is right for you. Give us a call at 844-GANNONS today to get started!