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Learn more about Hospital Indemnity

Want to learn more and see what plans are out there for you?  Contact our Local and Licensed Medicare Agents

Importance of Hospital Indemnity Insurance

Hospital Indemnity LogoDid you know 63% of people don't have enough to cover a $500 medical emergency?  Whether it's for an emergency room visit with an observation stay or a full admission, a trip to the hospital can get expensive, especially when your primary health insurance doesn’t cover all associated costs, like deductibles, co-payments and transportation.  The average cost of a 3-day hospital stay costing around $30,000*, it’s important to know your primary insurance plan’s deductible and co-payments. 

Even with the best primary insurance plan, when you’re hospitalized for an injury or illness there will probably be medical expenses and out-of-pocket costs that aren’t covered. A hospital indemnity insurance plan provides cash benefits to use as you see fit. The benefits are predetermined and paid regardless of any other insurance you may have, and you have a choice of applying for basic or a more robust plan. Whether you want a plan that provides hospitalization benefits only, or one that also covers skilled nursing facility benefits, Medico can help.

Why Hospital Indemnity?

Here is a great video explaining Hospital Indemnity Plans from one of our companies, Guarantee Trust Life (GTL)

FOR YOUR SECURITY . . .

Even with the insurance plan, when you’re hospitalized for an injury or illness there will probably be medical expenses and out-of-pocket costs that aren’t covered. A hospital indemnity insurance plan provides cash benefits to use as you see fit. The benefits are predetermined and paid regardless of any other insurance you may have, and you have a choice of applying for basic or a more robust plan. Whether you want a plan that provides hospitalization benefits only, or one that also covers outpatient rehabilitation, ambulance transportation and skilled nursing facility benefits, Healthy Colorado Insurance can help.

What are the Advantages of a Hospital Indemnity Insurance Plan?

  • Benefits are payable directly to the individual, unless otherwise speci ed.
  • Benefits can be used in any way an individual chooses to cover additional costs like deductibles, co-pays or other out-of-pocket expenses, or to cover household expenses while hospitalized.
  • Benefits are payable in addition to any other insurance that may apply.
  • This plan has No Deductible, No Precerti cation and No Network of Hospitals.

Are Plans Customizable?

You can design your policy to fit your individual needs.  Hospital Indemnity helps protect you against the cost that your current insurance might not address.

Some of the Options that could be Available:

  1. Option One: Pays for each day of confinement in a hospital. You choose the number of days (7 through 10 days) and the amount per day from $300 through $600 in $25 increments. 
  2. Option Two:  Pays a Lump Sum benefit per confinement in a hospital. You choose the amount per confinement of $1,500, $2,000 or $2,500 and are covered up to 3 con nements per year.
  3. Option Three:  Pays a Lump Sum benefit of $5,000 on day 1, for 1 confinement per calendar year.

Some other options available:

Observation, mental Health, Emergency Room, Out-Patient Hospital, Skilled Nursing, and Cancer Riders

Hospital Indemnity Plans are Convenient & Affordable

  • It's a convenient and affordable way to supplement your health care coverage.
  • Provides you peace of mind by offering reasonable, personal and convenient coverage that pays benefits when you need them the most.
*Healthcare.gov; Why health insurance is important; Protection from high medical costs.
 You have questions about a Hospital Indemnity Plan? Get us a call at 1 (844) 252-6400 or Contact Us here.

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