What is Hospital Indemnity Insurance?
Hospital indemnity insurance is a supplemental health plan that provides you with cash benefits to cover out-of-pocket costs associated with a hospital stay. Unlike traditional health insurance, which typically covers medical expenses, hospital indemnity insurance gives you a set cash benefit that you can use however you need. This can help ease the financial burden of hospitalization by covering things like copayments, deductibles, or other expenses that aren’t fully covered by Medicare or other insurance plans.
At Everything Medicare, we offer hospital indemnity plans that pair seamlessly with Medicare Advantage and Original Medicare, giving you extra protection when you need it most.
Why You Need Hospital Indemnity Insurance
While Medicare covers many aspects of your hospital care, there are still out-of-pocket costs like deductibles, coinsurance, and other expenses that can quickly add up. Hospital indemnity insurance helps to fill this gap, providing you with financial security and peace of mind in the event of an unexpected hospitalization.
Here are some reasons why hospital indemnity insurance is a smart choice:
- Supplement Your Medicare Coverage
- Fixed Cash Benefits
- Affordability and Accessibility
- Short-Term and Long-Term Hospital Stays
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What Does Hospital Indemnity Insurance Cover?
Hospital indemnity plans typically cover the following benefits (but can vary based on your plan):
Daily Hospital Stay Benefits
Cash payments for each day you are admitted to the hospital.
Emergency Room Benefits
A lump-sum payment to help cover emergency room visits.
Surgical Benefits
Cash benefits to help cover the cost of surgery related to your hospital stay.
Critical Illness Benefits
Coverage for critical conditions that may require hospitalization.
These benefits can be used to help pay for hospital-related expenses not covered by Medicare, helping to reduce your out-of-pocket costs and making it easier to focus on recovery.