Imagine Insurance Advisors
Hospital Indemnity Insurance
A hospital indemnity policy can mitigate some of your highest medical out-of-pocket expenses.
Hospital Indemnity Insurance Explained
We can build a customized hospital indemnity policy that reimburses you for some of the highest costs of your Medicare Advantage or high-deductible plan. Hospital Indemnity insurance policies are a low-cost solution to Part C Medicare Advantage Plans and high-deductible health plans. A hospital indemnity policy pays money directly back to you to replenish your out-of-pocket costs for hospital admittances, skilled-nursing care, physical therapy, out-patient surgery, and more. These policies work to mitigate some of the highest costs of your Medicare Advantage Plan for a lower premium than a Medicare Supplement. The benefits of a hospital indemnity policy can be tailored to match your plan's benefits, giving you flexibility to save money and cover the medical bills you are most concerned about.
With a hospital indemnity insurance policy, the base benefit is to cover your in-patient hospital costs. You choose the dollar amount you want to receive per day and how many days you want to receive that benefit if you are admitted to the hospital. Usually, you tailor the details to match your Advantage Plan's benefits, like $XXX/day for X days. There are optional riders you can add for an additional cost to cover other types of out-of-pocket expenses.
Hospital Indemnity Policies Can Cover More!
Some policies have optional riders that help reimburse you for skilled nursing care, physical therapy, out-patient surgery, urgent care visits, ambulance, and cancer. An indemnity policy allows you to design a unique coverage package and only pay for what you want. You pick the options that are the most important to you.
Hospital indemnity policies are available for people ages 40 to 85. Some carriers have no underwriting for certain age ranges, meaning you are Guaranteed Issue regardless of your health. There may be a pre-existing condition exclusions for several months if you are Guaranteed Issue. If there is medical underwriting to be approved for the policy, it is important to get coverage while you are still healthy.
We Are the Hospital Indemnity Insurance Experts
Rules and benefits of hospital indemnity policies vary and by working with us, at Imagine Insurance Advisors, you can rest assured that we aim keep you unburdened by the costs of healthcare.