In the U.S., a single hospital stay could be financially devastating — even for those with health insurance. One overnight stay in the hospital can wrack up thousands of dollars. If one stay costs that much, what would happen to you or your family if a serious medical issue that required a lengthy stay and numerous medical procedures were to occur? Whether you have decent savings or you’re living paycheck-to-paycheck, nobody wants to be drowning in medical bills, especially during an emergency.

This is where hospital indemnity insurance can come in handy.

Why Get Hospital Indemnity Insurance?

Hospital indemnity insurance is a type of supplemental coverage that pays benefits if you’re hospitalized. It’s not meant to replace your existing health insurance, but rather act as a safety net in the event of an emergency or needed hospital stay/procedure. You may also hear it referred to as hospital confinement indemnity insurance. Having this coverage will allow you to focus on recovery without having a financial setback. 

What’s Covered?

Every hospital indemnity plan is different. Generally, it will cover hospitalizations and intensive care. Some programs may offer a set of policy riders to meet your individual needs, including:

  • Ambulance trips
  • Critical accidents
  • Outpatient surgery
  • Cancer treatments
  • Skilled nursing
  • Dental/vision 

Is Hospital Indemnity Insurance Worth It?

That’s up to you — but it will help to look at your current finances and ask yourself these questions: 

  1. If something critical were to happen to you or a family member, do you have the money to pay for hospital costs?
  1. Do you or does anyone in your family have a chronic condition that requires frequent hospitalizations?
  1. What does your current health insurance plan cover, and would it be enough to protect you in the event of a true medical emergency?

For some people, the hospital indemnity plan premium isn’t worth it, but for others, it can be a genuine lifesaver.

Talk to Your Insurer

With all the different hospital indemnity options available to you, it’s important to ask your insurer the right questions. Ask what types of hospital costs are covered and if there’s a cap on how much the insurance company is willing to pay. Also, find out how quickly payment will be received. Ask if you can cover your whole family, or if it's only you who will be covered.

Even if you don’t think it’s for you, it’s still worth it to take a look. Remember, a single accident could be what stands between you and medical debt. Explore your options and see if supplemental insurance is right for you.

Get Hospital Indemnity Insurance Today!

If you’re in the market for hospital indemnity insurance or any other kind of insurance, iHealthcare Direct can help. iHealthcare Direct is an expert in the healthcare field and our agents can help you navigate through a complex maze of options. Call iHealthcare Direct to get started!

Helping individuals and families access affordable healthcare. iHealthcare offers personalized services to our clients, helping them find the best possible healthcare solutions for their needs.
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