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Hospital Indemnity Insurance

An insurance plan for hospitalization due to an injury or critical illness

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Are you prepared to pay around $10,400 out of pocket for a 4-to 5-day hospital stay?

The average cost of hospitalization can easily exceed the average major medical deductible amount of $4,328 (2017).[2]

Are you able to pay a $4,000 medical bill in order to reach your deductible and access your major medical plan benefits?

Whether as a stand-alone alternative to major medical hospitalization benefits or to supplement a primary medical plan, a hospital indemnity plan with additional critical illness insurance benefits helps cover the costs associated with being admitted to the hospital when you become sick or injured.

What does Hospital Insurance Cover?

​

Hospitalization insurance plans generally provide benefits for medical services associated with being hospitalized due to an injury.

Some plans include coverage for critical illness like cancer, heart attact, stroke, major organ transplant, coma, and kidney failure, while others allow you to add these coverages to your plan for an additional cost.


Because these plans are highly customizable, you may also be able to obtainadditional coverage for outpatient services like preventive care and urgent care, and diagnostic (X-rays and lab tests).

What Hospital Insurance Covers?
  • Hospital room and board
  • Inpatient physician’s visits
  • Inpatient prescription medications
  • Inpatient surgery
  • Outpatient surgery
  • Ambulance services
What Hospital Insurance Does Not Cover?
  • Pre-existing conditions, including pregnancy
  • Preventive care such as routine physicals
  • Any non-medically necessary surgical procedures
  • Outpatient prescription medications
  • Experimental procedures

Ready to get coverage for an unexpected hospital stay?

Get an Instant Hospital Insurance Quote

Pros and Cons of Short Term Health Plans​

Here are a few of the pros and cons to consider when you're thinking about applying for a hospital indemnity + critical illness insurance plan.

​PROS

  • May be guaranteed renewable – You won’t be singled out for a rate increase or cancellation based solely on changes to your health.
  • You choose how to use benefits payments – There is no restriction on how to use the money you receive.
  • Apply year-round – There is no official open enrollment period, and you can apply anytime.
  • Don’t pay for coverage you don’t need – Plans are highly customizable; you can choose from various health benefit levels.
  • Keep your doctor – No provider network limitations for fixed indemnity plans means you can visit your preferred healthcare provider.

CONS

  • Unlike ACA plans, premiums are based on age and health – The younger and healthier you are the lower your monthly premium, conversely, older and sicker individuals will pay more.
  • Less coverage than major medical - Preventive care and many other essential health benefits such as annual doctor's visits, prescription drugs, vaccinations, and pre- and post- natal care not covered. If you think you will need any of the 10 essential health benefits guaeateed by the ACA- qualifying plans, then the short term health plan may not be right for you. 
  • Pre- existing conditions are not covered   
  • Not ACA-qualifying major medical coverage – Hospital indemnity insurance is a form of alternative coverage, not ACA-compliant major medical coverage.

Think a hospital indemnity isurance plan may be right for you? 

Get an instant quote and select a plan that meets your needs.

Get an Instant Hospital Insurance Quote

Who Should Get Hospital Insurance?

Hospital plans may be beneficial to people who:

  • Young adult
  • unemployed
  • Part-time seasonal workers or contractors
  • prefer non- obamacare options
  • HAve a high deductible major medical plan

What should you do if you don't get health insurance through your employer?

You may need to purchase major medical coverage on your own, or enroll in an alternative health plan.

How Hospital Insurance Works

Hospital insurance is a “fixed indemnity” plan, meaning you receive a set benefit amount regardless of amount charged for eligible medical expenses from your provider. Fixed indemnity benefits may be paid per day, per week, per month, per visit or per event.

For example, your plan may pay $500 per day for inpatient hospitalization (hospital room and board) and cover one doctor’s visit per day while hospitalized at a rate of $100 per visit. If you are hospitalized for 5 days and see the doctor one time each day, your fixed benefit payment amount will be $3,000 for these services.     

  • You pay monthly premiums in order to maintain your hospital plan and receive fixed indemnity coverage for eligible medical expenses. You may or may not elect to have a deductible. The lower your deductible, the higher your monthly premium.
  • Present your insurance card when you receive medical care. Unless you assign your benefits elsewhere, the insurance company receives your bill and pays you a lump-sum benefit based on the covered services provided. See some more example scenarios and cost breakdowns.
  • Your hospital plan does not coordinate benefits with any other health insurance you carry. If you’re using a hospital plan alongside a major medical plan, your major medical plan also processes payments.
  • You will continue to receive fixed payments from your hospital plan for covered care at the specified interval, such as $500 per day. Unlike major medical policies there is no annual or lifetime limit. The benefits will continue to be paid for as long as you’re receiving covered services up to any specified maximum.   

A Hospital Plan can help you feel more in control when being admitted to the hospital.

Get an Instant Hospital Quote

Got More Hospital Insurance Questions? 

is there an annual or lifetime maximum limit to the hospital insurance policy?

where can you get a hospital plan?

what is a hospital indemnity insurance? 

All Hospital Insurance FAQs

How Much Does Hospital Insurance Cost?

Hospital plan premiums vary depending on the benefit level selected.

Plans can range from $50 per month to over $400 depending on your age, health and the level of coverage and any additional benefits you opt for. ​

It’s important to read and understand the coverages and benefits included in any plans you’re considering in order to know if the plan makes sense for you and your budget.

Ready to apply for a Hospital Indemnity Health Plan? 

Get an Instant Hospital Quotes
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