Hospital Indemnity Insurance

Unexpected or long-term hospitalizations should not be a time to worry about medical costs. Hospital indemnity insurance helps by putting recovery first over hospital bills. Read to learn more.

What is Hospital Indemnity Insurance?

Hospital indemnity insurance supplements your existing health insurance coverage by assisting with the payment of hospital expenses. Depending on the plan, hospital indemnity plan provides cash payments to assist you in paying for any additional expenses that may arise while you recover. It can also provide ambulance coverage, daily expense coverage, and other benefits.

hospital indemnity insurance

Medicare beneficiaries can purchase their own hospital indemnity insurance plans. If you enroll in a Medicare Advantage plan, you can purchase an indemnity plan to supplement your coverage.

Even if your medical insurance covers the majority of your hospitalization, you can still receive payments from your hospital indemnity insurance plan to cover additional expenses while you recover.

How can Hospital Indemnity Insurance help you?

Benefits of this insurance plan may include:

  • Hospitalization, accident-related inpatient rehabilitation, and hospital stays are all covered.
  • Acceptance is guaranteed for you and eligible family members.
  • Simple payroll deduction.
  • If you decide to leave your current employer, you will have portable coverage.

If you consider getting one, your choice depends on your age, health situation, where you live, your preferences, and the cost. 

For more information on the best plan for you and your family, speak with on of our reliable agents here at Simple Choice Insurance Brokerage

Facts about Hospital Indemnity Insurance

Here are important points you need to know before getting a Hospital Indemnity Insurance plan: 

1. Your policy can be customized based on you needs and budget. 

Simple Choice Insurance Brokerage can assist you in customizing your Hospital Indemnity Insurance coverage to meet your specific requirements. 

2. After the first hospitalization, your coverage continues, so you are covered for future hospital stays.

3. There are no restrictions on how the money can be spent.

Hospital indemnity insurance is a type of additional insurance that is available to aid with hospital bills and other costs like groceries, daycare, and other expenses while you recover. Hence, you can use the cash benefit to assist in the payment of coinsurance, deductibles, and copays (no network restrictions), prescription medications, and  rehabilitation expenses. 

Consult your agent if you have other things you need to know or to clarify about your plan. They are willing to help.

Questions to consider about Hospital Indemnity Insurance

Hospital indemnity plan coverage and cost vary. When enrolling, ask these questions to understand the plan details:

  • When do hospitalized patients get cash?
  • What’s the hospitalization limit?
  • Does the plan have family coverage?
  • Are there any age restrictions for the plan? 

You can also talk to your agent if you have other questions you need to address. 

Is Hospital Indemnity Insurance worth it?

Hospital indemnity plan costs less than many supplemental plans, depending on plan and coverage. If your health insurance limits hospitalization coverage, consider hospital indemnity plans.

As you age, hospitalization risk rises. This kind of coverage provides peace of mind. Trust us, it will be worth the price!