Hospital Indemnity Plans and More

Hospital indemnity plans are insurance policies that provide a cash benefit when an insured person is hospitalized. The benefit can be used to help cover the cost of hospital stay, deductibles, and other out-of-pocket medical expenses. Hospital indemnity plans are not health insurance, and they do not replace health insurance.

​

Hospital indemnity plans are designed to supplement health insurance. Hospital indemnity plans are not intended to pay for the entire cost of a hospital stay. Hospital indemnity plans are offered by private insurance companies, and the amount of coverage varies by policy. Hospital indemnity plans typically have no pre-existing condition exclusions, and they do not require a medical exam. Hospital indemnity plans are subject to state regulations, and some states prohibit hospital indemnity plans from being sold to certain groups of people.

​

Hospital indemnity plans are not required by law, but some employers offer them as part of an employee benefits package. Hospital indemnity plans can be purchased by anyone, but they are most often purchased by people who do not have health insurance or by people who have health insurance with high deductibles. Hospital indemnity plans are typically less expensive than health insurance, but they only provide coverage for hospital stays, and they do not cover the cost of other medical expenses.

​

If you’re considering purchasing a hospital indemnity plan, it’s important to understand how they work and what they cover. Hospital indemnity plans are insurance policies that provide a cash benefit when an insured person is hospitalized. The benefit can be used to help cover the cost of hospital stay, deductibles, and other out-of-pocket medical expenses.

​

Hospital indemnity plans are designed to supplement health insurance. They are not intended to pay for the entire cost of a hospital stay, and they typically have no pre-existing condition exclusions. Hospital indemnity plans are offered by private insurance companies, and the amount of coverage varies by policy.

​