Coverage that helps pay expenses related to hospitalization and treatment due to a sickness or injury.
When it comes to the health of employees and their families, the stress of out-of-pocket expenses related to unexpected hospital stays should not be something they need to worry about. Hospital indemnity insurance helps reduce some stress caused by hospital bills, allowing them to better focus on recovery.
Depending on the coverage, hospital indemnity insurance can help alleviate financial worries from a hospitalization due to a sickness or injury. A lump-sum cash benefit is paid to the insured person to help pay for added expenses that may come while recovering.
The average overnight hospital stay runs $13,262 regardless of insurance type, so it’s not surprising that 60-65% of all bankruptcies are related to medical expenses.
It’s easy for your employees to sign up for hospital indemnity coverage. If they’re admitted to the hospital for a sickness or injury, they receive a lump-sum cash benefit to use any way they choose—regardless of other insurance they have.
Flexible design options allow you to tailor the hospital indemnity insurance benefits to your employees’ needs. Some examples of covered benefits include daily hospital confinement, inpatient surgery, and therapy. Customization allows you to give your employees a choice to decide what plan design meets their needs.
Flexible design, minimal paperwork, and simplified claims.
Proof of good health is not required.
Employees can buy protection for their spouse and/or kids.
It is portable coverage employees can take with them.
Talk to your financial professional about offering group hospital indemnity insurance. And, consider combining group hospital indemnity insurance with other offerings for a more comprehensive benefits package.
Group accident insurance
This coverage helps supplement key benefits by providing employees with a lump-sum cash benefit after a covered accidental injury.
Group critical illness2 insurance
Helps employees protect their financial security when diagnosed with a serious illness by providing them with a lump-sum cash benefit.