Protect Your Health and Finances with Hospital Indemnity
Most primary health insurance plans do not cover all hospital costs. If you’re hospitalized, you can be stuck paying the amounts not covered by your primary insurance, and that can get expensive. A hospital indemnity plan covers some of the costs associated with a hospital stay and may provide extra coverage that your health plan doesn’t.
Understanding Hospital Indemnity Insurance
When you are admitted to the hospital, a hospital indemnity plan provides additional benefits above and beyond what your current health plan would. Hospital indemnity plans offer lump-sum cash benefits that can be used for unexpected medical costs, out-of-pocket expenses, and even everyday living costs during your hospital stay.
Unexpected trips to the hospital can be stressful, and so can the bills, especially for extended stays that exceed what your average medical policy will cover.
Medicare Part A covers the first 60 days of inpatient hospital care after you have paid your deductible. After that, for the next 30 days, you are responsible for a daily coinsurance amount, which is $434 per day in 2026. Hospital stays exceeding 90 days can cost $868 per day or more when relying solely on coverage from Original Medicare.
Hospital indemnity plans pay cash benefits directly to you when you or your covered family members are admitted to the hospital. Indemnity plan benefits are used in addition to your Medicare coverage. Whether you’re being treated on an inpatient or outpatient basis, lump-sum cash benefits from a hospital indemnity plan alleviates financial burden, providing you funds for co-pays, deductibles, testing costs, lodging or transportation costs, daily costs above and beyond what Original Medicare will cover, out-of-network treatments, or even grocery and household expenses.
Talk to an agent today to review your options and see if adding a hospital indemnity plan is right for you.