Fills Health Insurance Gaps
A hospital indemnity policy is designed to supplement coverage to major medical, Medicare, and Medicare Advantage plans. With hospitalization costs soaring, hospital indemnity insurance is a very affordable strategy that helps people cover out-of-pocket costs when they have an expensive, unplanned hospital stay.
Why hospital indemnity insurance?
Hospital Indemnity plans have become very popular for individuals aged 65 to 84, as according to much research have the most expensive medical services and account for almost 30 percent of all inpatient hospital stays. And, original Medicare or MA plans do not cover the entire costs of these stays. There are also other costs associated with being hospitalized to consider that just are not covered by traditional insurance, Medicare, or Medicare Advantage.
These policies are also a good fit for other, younger individuals as most people do not have enough savings to cover an unplanned illness or accident. In fact, according to many studies, over 65% of all personal bankruptcies are caused by medical bills. Supplemental policies allow people to focus on getting better by providing benefits that go beyond traditional health insurance, helping people to cover deductibles, copays, living expenses and more in the event of an unforeseen hospital stay.
How it works.
Premiums vary depending on level of coverage. The policy pays fixed benefits for a covered inpatient hospital stay. It pays benefits regardless of other coverage you may have, and benefits may be paid directly to you, unless you assign them to a physician, hospital or other health care provider.
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We’ll start with a comprehensive needs analysis to tailor benefits that align with your specific needs and budget.