Hospital Indemnity Insurance
If you have a health
insurance plan with a high deductible or a Medicare
Advantage Plan, this policy can help offset the deductibles and co-payments of some items within the plans. We offer a simplified issue plan of insurance with benefits for hospital, skilled nursing facility and registered nurse services. Simplified issue means there are just a few health questions to answer.
These plans are available to people ages 30 to 89. The policy is guaranteed to renew as long as you pay your premiums. Payments are in addition to Medicare or any other insurance. Payments are made directly to you.
Coverage Includes These Benefits
Hospital Indemnity - Pays $1000 when you are confined to a hospital for at least 24 hours. Payable once for each period of care.
Skilled Nursing Facility - Pays $120 per day after a 20 day elimination period when you are confined in a skilled nursing facility. Treatment must follow a hospital stay of at least 3 days. Payable up to 90 days for each period of care.
Private Hospital Room Indemnity - Pays $25 per day for each day of confinement in a private hospital room. Maximum of 30 days for each period of care.
Registered Nurse - In-Hospital and At-Home Indemnity - Pays $60 maximum per day ($30/shift for 2 shift/day) when a doctor certifies that services of a private-duty, graduate or registered nurse (R.N.) are medically necessary. Payable for up to 30 days for each period of care.
There are other optional benefits for a daily hospital indemnity, calendar year indemnity and pre-existing condition elimination. A period of care begins with the first day of confinement in a hospital because of a covered injury or covered sickness. It ends when you have been out of the hospital or skilled nursing facility for 60 continuous days.
You may collect on multiple items for one stay. For example, if you get into a car accident and spend 10 days in a private hospital room and then go to a nursing home for rehabilitation for 30 days, you would receive the following:
1 x $1000 = $1000 for the hospital stay
10 x $25 = $250 for the private room
10 x $120 = $1200 for the nursing home (20 day elimination period)
Total of $2450 paid to you to help with expenses
Hospital Indemnity Insurance Rates
Rates for this plan are very inexpensive. Sample rates are:
Age 30-55 $17.69/month
Age 65-69 $27.53/month
Contact us and we'll help you determine if adding this plan to your current coverage makes sense. Almost always we find that if you have a Medicare Advantage plan that this makes a great way to inexpensively cover some of the biggest gaps in the plan.
