HOSPITAL INDEMNITY INSURANCE
Covering the Astronomical Costs of a Hospital Stay
Hospital indemnity insurance is a supplemental form of insurance that augments an existing health insurance policy by helping pay the astronomical expenses associated with hospital stays.
Depending on the plan, hospital indemnity insurance gives plan participants cash payments to help pay for the added expenses not covered by their major medical plan.
Benefit payments go directly to the covered employee and the employee can use the benefit payment for costs not covered by their health insurance plan such as health insurance deductibles, copays and coinsurance, childcare expenses or cost-of-living expenses while hospitalized or in recovery.
In general, most Hospital Indemnity plans pay for:
- Hospitalizations
- Intensive care
- Critical care
- Outpatient surgery
- Emergency room visits
- Ambulance service
In addition, for most plans there are no deductibles and they are not limited to provider networks.