It can be hard to plan for all of life’s curve balls. But when it comes to the health of you and your family, the stress of how to pay for expenses from unexpected hospital stays shouldn’t be a concern. And while health insurance helps pay for some medical costs, do you know how you’d cover the rest? Hospital indemnity insurance can help alleviate out-of-pocket expenses that arise during an unforeseen hospital stay by providing a cash benefit so you can focus on recovering.
1. Purchase benefit through your employer
Buy this coverage through your company at a lower group rate that comes straight out of your paycheck.
2. File your claim
If you’re admitted to the hospital for a sickness or injury after your benefits start, you can easily submit your claim online. Learn more about how to submit a claim.
3. Receive your cash benefit
If your claim is approved, you’ll receive a direct payment that can be used for anything, regardless of other insurance coverage or actual expenses incurred.
How our coverage can help.
When the day came for Harper to have her baby, the delivery went well, and she was excited to welcome a healthy girl. While Harper recovered from the birth, her daughter was placed in the newborn nursery.
With the help of Harper’s hospital indemnity insurance, she was able to focus on her growing family and not worry about her hospital bills. Here’s a breakdown of her coverage:
| Benefit | Benefit amount | Days payable | Total |
|---|---|---|---|
| First hospital day | $1,000 | 1 | $1,000 |
| Daily hospital care | $100 | 1 | $100 |
| Newborn care | $100 | 1 | $100 |
| Total benefit: | $1,200 | ||
Parker was looking forward to a relaxing weekend at home with his dog after a long week at the office. While taking his four-legged friend for a walk, Parker started experiencing chest pain and was taken to the hospital. After being hospitalized in the intensive care unit (ICU) for six days, he was transferred to a different unit and hospitalized for an additional four days.
With help from his hospital indemnity insurance, Parker was able to pay for his out-of-pocket medical expenses and the pet care needed for his dog while he was hospitalized. Here’s a breakdown of his coverage:
| Benefit | Benefit amount | Days payable | Total |
|---|---|---|---|
| First day ICU confinement | $2,000 | 1 | $2,000 |
| Daily ICU care | $200 | 5 | $1,000 |
| Daily hospital care | $100 | 4 | $400 |
| Total benefit: | $3,400 | ||
Hospital indemnity insurance is extra financial protection when the unexpected occurs. The payment from this benefit is paid regardless of what your other insurance covers. And this coverage can help pay for any expense, including non-medical costs.
The lump-sum payment you receive from hospital indemnity insurance can be used for anything you choose, such as:
- Deductibles
- Copayments
- Childcare
- Pet care
- Travel
- Lodging
This will depend on the coverage your employer chose, but hospital indemnity insurance may cover the following:
- Hospital stays/confinement
- ICU stays
- Newborn care
When you purchase hospital indemnity insurance at work, you get several advantages including:
- Group rates that are less expensive than if you purchase the insurance on your own
- A cost that’s automatically deducted from your paycheck
While hospital indemnity insurance can be a good idea for anyone, the following individuals could especially benefit from this coverage:
- People with a higher risk of hospitalization due to chronic health conditions
- Growing families who plan to have new arrivals in the near future
- Individuals with high-deductible health plans
- Families with children
- Anyone who wants additional financial protection
You can buy this coverage for yourself and if you’re already covered, you can also purchase it for your spouse and/or your kids.
When you purchase hospital indemnity insurance during your employer’s annual enrollment, you’ll automatically receive coverage without a health exam. That means no doctor appointments and quick approval—no medical questions asked.
Learn more.
Ready to unlock the full potential of your benefits? Talk to your employer or financial professional about benefit costs and how to enroll.
Explore other benefits that your employer may provide: