SGIC Insurance FAQs
What is supplemental health insurance?
Supplemental health insurance is an insurance policy that can help you cover costs that your regular employer-provided, marketplace, or individual health insurance plan doesn’t pay. This includes deductibles, copays, or coinsurance, as well as expenses that might add up while you are sick or injured and out of work. Examples of supplemental health insurance at SGIC include:
Do I need supplemental health insurance if I already have health insurance?
That depends your family’s personal situation. Supplemental health insurance may be beneficial if:
- Your personal or family’s current health requires multiple doctor’s visits, and you need help paying your deductible, copays, or coinsurance.
- You have a family history of heart problems, cancer, stroke, or any other condition that may require expensive treatments, care, or related expenses not covered by your health insurance.
- You travel a lot, participate in high-intensity physical activity, or tend to be accident prone.
- You don’t have the saving you might need to cover a catastrophic health event.
Do I need to be a certain age to be covered under a supplemental health insurance plan?
Different types of supplemental health insurance have different age eligibility requirements and different providers may have different requirements. For example:
- The primary insured on an SGIC Limited Indemnity Medical plan must be between the ages of 18 and 65, which is standard for most Limited Indemnity Medical plans.
- Critical Illness insurance maximum age limits vary by provider; SGIC’s plans offer coverage from 18 to 79. Some insurers limit how old you can be when you initially purchase Critical Illness insurance. For example, if you are 60 years old, you may not be eligible for certain Critical Illness policies.
If you are interested in SGIC’s supplemental health insurance policies, please contact us at (888) 912-4767 to discuss your coverage options.
I have a pre-existing condition. Can I still get supplemental health insurance?
Because supplemental health insurance doesn’t fall under the Patient Protection and Affordable Care Act (AKA Obamacare), most supplemental plans include a pre-existing condition exclusion clause (meaning they don’t cover pre-existing conditions) and/or require some form of medical underwriting and may also have a waiting period before covering specific conditions.
If you have a pre-existing condition and you expect to require care for that condition in the future, then supplemental health insurance may not be a good solution for you.
I am interested in a Limited Indemnity Medical Insurance plan. How can I get a quote?
If you are interested in SGIC’s Limited Indemnity Medical Insurance policy, please call our customer care team at (888) 912-4767, and they will get you in touch with a licensed agent who can provide you with quotes and help you find a plan to fit your needs.
Will my supplemental insurance premium change?
The short answer is, perhaps. For the types of supplement insurance offered by SGIC, the insurer retains the right to change premiums whenever they deem necessary, as long as they give you written advance notice (usually, 30 or 45 days). Whether or not this will happen to you depends largely on how well the insurance company is screening and managing the risk pool you become a part of when you buy supplemental health insurance coverage from SGIC.
Keep in mind that the insurer of supplemental health insurance cannot raise premiums on you because you filed a claim, like your home or auto insurer can. Rates can only go up if they are being raised for everyone in your state.
What is Short Term Medical Insurance?
Short Term Medical Insurance is designed to be temporary insurance for people who find themselves with an insurance gap:
- You might be between jobs or are a new hire waiting for your employer’s insurance to kick in.
- You’re a young adult over 26 (or the parent of a young adult over 26) just coming off your parents’ insurance and don’t have employer-provided coverage.
- You’re a healthy retiree under age 65 who needs insurance before you’re eligible for Medicare.
- You currently can’t afford marketplace insurance premiums, or you missed the open enrollment period and don’t have a qualifying event.
With a variety of benefits and terms from 30 to 364 days (depending on your state), Short Term Medical Insurance from SGIC can be an affordable option.
Is Short Term Medical Insurance the same as Affordable Care Act (ACA) or Obamacare insurance?
No. Short Term Medical Insurance is not considered ACA-compliant. ACA-compliant insurance must cover “10 essential benefits”; Short Term Medical Insurance may exclude some of these benefits, such as pregnancy, rehabilitation, and preventive care. Short Term Medical Insurance also does not usually cover pre-existing conditions.
The good news, though, beginning in 2019, you no longer have to pay a tax penalty if you don’t have ACA-compliant insurance for the whole year.
How do I use my Short Term Medical Insurance?
When you purchase a Short Term Medical Insurance policy through SGIC, you receive a health insurance ID card that you present to your healthcare provider when you receive services. The provider bills the insurer, who pays the amount your policy covers for eligible expenses, and you are responsible for paying the balance.
Does Short Term Medical Insurance have an open enrollment period?
No. You can enroll in Short Term Medical Insurance whenever you need to, and your coverage can begin as soon as you’re approved.
Where do I buy Short Term Health Insurance?
Call our SGIC customer care team at (888) 912-4767, and they will get you in touch with a licensed agent who can determine whether Short Term Health Insurance is available in your state, provide you with quotes, and help you find a plan that fits both your budget and your healthcare requirements.
At SGIC, we know that short term health insurance or supplemental health policies like critical illness can give you and your family peace of mind. Our goal is to help you find an insurance policy for your particular health and financial needs. Get the coverage you need! If you would like to learn more about how SGIC can assist you, please contact us for more information.