What is it?
Hospital Indemnity Insurance is designed to help fill some of the co-payments, deductibles and out-of-pocket expenses of your health insurance plan. Cash benefits are paid directly to you to help cover the costs associated with hospital confinement, ambulance trips, skilled nursing stays and more.
For example: Jack trips and injures his knee while hiking. Later he goes to his doctor and finds out he needs surgery to repair his knee. His doctor schedules surgery and Jack will be in the hospital 3 to 5 days. His Medicare Advantage plan hospital copays are $325 per day up to day 5, totaling $1625. His Hospital Indemnity plan covers those copays by cutting a check to Jack for $2100.00. With the extra money Jack can pay for gas, meals, or extra Rx he may need.