Why Hospital Indemnity Insurance?
Hospital stays are costly. If you or a family member find yourself in the hospital due to a sudden accident or illness, you may struggle financially, even if you have a good medical plan. With a hospital indemnity plan, you can rest assured those extra expenses won’t be a financial burden.
Unlike medical plans, there are no deductibles to meet with a hospital indemnity plan. As soon as you incur a qualified event, you can file a claim and start receiving benefits.
The plan pays a lump sum benefit in a previously specified amount. The money can be used for medical costs, insurance deductibles, groceries, transportation, childcare – the choice is up to you!
Hospital Indemnity Highlights
- No pre-existing condition exclusion.
- No maternity waiting period.
- Only a 20-hour requirement for hospital admission – includes ER observation stays.
- Portability is automatically included. Employees can take their Hospital Indemnity coverage with no change in coverage or rates.
- Critical Care Admission and Critical Care Confinement pay in addition to the Hospital Admission and Hospital Confinement daily benefit.
- Includes a $50 annual Health Maintenance Screening Benefit.
- Rates are not age-banded.
