Advantages:
- Convenience: sign up at work, premiums get deducted from paycheck
- Minimum underwriting: there may be some high level medical questions or a medical exam
- Potentially lower cost for unhealthy: the policy premium may be lower than for an "individual" policy because they are based on covering a group (the young, old, healthy and unhealthy)
Disadvantages:
- Work-related restrictions: like the "basic" coverage, it typically requires you to be "actively" working
- Not portable: can't take the policy with you if you leave the employer. If your next employer doesn't offer "supplemental" insurance, then you may need to purchase an "individual" policy to maintain the same level of coverage - paying higher premium due to older age and health
- Increasing premiums: typically costs increase each year as you age
- No options: employer coverage typically offers few or no bells and whistles than an "individual" policy may include