Hospital Indemnity Insurance

Have you ever been admitted to a hospital and had no plan for how to pay for it? Long stays in the hospital are never convenient and can have you feeling stuck and out of work. Nobody wants more stress than what is necessary when it comes to being in the hospital. That’s why hospital indemnity insurance exists, to alleviate the financial burden of lengthy hospital stays. Hospital indemnity insurance is a supplemental insurance plan that pays for the cost of hospital admission that may not be covered by other insurance plans. These plans are available to businesses with as few as two employees.

Since most Americans don’t have enough saved up to account for unplanned medical bills, hospital indemnity insurance serves as a financial safety net. This insurance plan covers intensive care visits for a covered sickness or injury, and critical care. For a higher monthly premium, some plans may offer coverage on outpatient surgery, emergency room visits and ambulance services. Even if you don’t have any out-of-pocket expenses, the perk is that some hospital indemnity plans will pay employees a cash payout that can be used for any purpose, like copays, deductibles and regular expenses incurred during your stay like food, rent, and utilities. Most plans do not limit you to provider networks, which makes choosing a plan less of a hassle.