Hospital Indemnity Plans

Additional Medicare Health Insurance – Hospital Indemnity Plans

Different from long term insurance plans, final expense plans, or annuities, a hospital indemnity plan is designed to cover the costs of a hospital stay not covered by Medicare insurance. These plans provide benefits for each day you are hospitalized, though the benefit amount is usually fixed regardless of the actual hospital expenses incurred. Unlike Medicare health plans, a hospital indemnity plan pays the benefits to you and not the healthcare provider.

Hospital Indemnity Plan Tips

Depending on the hospital indemnity plan you choose, the cash you receive may be used to help pay for out-of-pocket hospital-related expenses not covered by Medicare insurance such as deductibles, co-pays, travel, transportation, and hospital incidentals, like parking. These cash payouts may also be used for household expenses incurred as a result of hospitalization, outpatient surgery, or post-hospital skilled nursing facility stays. There are many types of hospital indemnity plans available, but we have found that the most common benefit of the plan is a set cash value of $150 for each day of the patient’s hospital stay.

Trusted Senior Specialists and Hospital Indemnity Plans

Hospital costs are an important part when you compare Medicare plans, and anyone concerned about these costs should consider a hospital indemnity plan. These plans can take patients with pre-existing medical conditions, have elimination periods where benefits are only paid after the patient is hospitalized for a set number of days, as well as other terms and benefits that can be difficult to decipher. To help choose a hospital indemnity plan or any other type of Medicare health insurance, contact one of our experienced professionals today to discuss your options at no charge!

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