Hospital Indemnity Insurance

What is Hospital Indemnity Insurance?

These plans pay a fixed amount of cash benefits for various qualifying events such as a stay in the hospital or skilled nursing facility. The cash benefits from these plans are paid directly to you not the hospital or provider and could be used to help offset some of the medical expenses not covered by your health insurance plan such as for co-pays or deductibles.  These types of plans are very common with Medicare Advantage Plans.  They often offer other riders to the hospital plan such as ambulance, outpatient surgery, and more importantly cancer coverage.  With a hospital indemnity plan you’ll have the peace of mind knowing that your health insurance co-pays, deductibles and coverage limits won’t surprise you after an illness or accident.