Hospital Indemnity Insurance

What Is Hospital Indemnity Insurance?

Hospital Indemnity Insurance in an additional option that you are able to add to your overall health insurance policies. This insurance plan is a plan that will pay you a specified amount each day you are in the hospital for covered services that you receive, no matter what the final bill of the hospital stay is.

Hospitalization is stressful and expensive in itself, but it is often forgotten to think of the additional costs that are incurred while you are in the hospital. Things such as deductibles and copays will start pilling up, and then there is the possibility that you may require out-patient follow up appointments or even a nursing facility stay, which is important to think about as well so that you can get assistance with some costs of those services.

A hospital stay can be very traumatic to not only you, but also your family and even your wallet. Although having medical insurance, there are potentially costs that will not be covered by insurance. When this happens, that is when a hospital indemnity insurance plan can help. It can provide you with supplemental cash benefits to use as needed.

If you have any questions in regards to this plan, do not hesitate to reach out to me via phone, email, or fill out the form on this site. I would be happy to assist you with getting you into the right plan!

Why Hospital Indemnity Insurance:

Hospital Indemnity Insurance is a plan that offers flexible supplemental coverage to major medical, Medicare, and Medicare Advantage plans. As most insurance plans do not cover every area or dollar of your hospital costs, you can select this plan that will pay out a specified benefit amount for each day that you are in the hospital for an injury or a sickness.

In most cases, this insurance plan allows the policy holder to choose the per-day cash amount they receive within their chosen benefit period. The benefit period is the maximum amount of days the policy will pay. It is also important to note that generally, this does not have a deductible or limited provider network and you can use the benefits in whatever way you choose.

By choosing this plan, it will help to ensure that you are not dipping into your savings account or retirement income to help pay for any costs associated with your hospital stay. Depending on your state coverage, plans may also pay for ancillary costs such as:

Recovery Care
Ambulance transportation
Urgent care
Chiropractic care
Travel and lodging expenses (if care is required at a hospital that is not close to where you reside.)

What To Look For In This Plan

When choosing this plan, it is important to look for 3 key factors. Below is a list of some of the most important things to look for when choosing this plan.

First: It is important to understand which benefits your health care coverage will cover. Whether you have Medicare, Medicare Advantage, or Medicare Supplement, you will want to check to make sure your benefits cover what is needed.

Second: You will want to sit down and figure out what you can afford for an additional policy. You will also want to determine what value the additional policy will bring to you.

Third: You will want to make sure that you understand what is not included in the plan. Typically, if you have a hospital stay that is considered non-medically necessary, then these are not typically covered by insurance. These would be things such as: cosmetic procedures, or injuries from engaging in high-risk activates, such as skydiving for example.

What Typically Comes With This Plan

Below is an example of items that may be included within the plan that you choose. Please note, that just because they are listed below, it does not mean they are included within the plan that you choose. Below is just an example of some things that may be included in a plan.

Emergency room services
Mental health services within an inpatient unit
Observation unit monitoring
Transportation and Lodging

In addition to the points listed above, most plans also have additional benefits that you can add at an additional cost. These are things such as:

A certain amount for cancer diagnosis
A certain amount for hospital confinement
Ambulance services
Care received within a Skilled nursing facility
Outpatient surgeries
Outpatient therapy and any necessary chiropractic services
Services performed at an Urgent care

Please remember, that I am always here to help. If you choose me to be your insurance advisor, then you will have exclusive contact to me via phone or email.