Hospitalization cost redirects the patients’ attention from recovery. Unexpected long-term hospitalization burdens the family because of the pile of medical expenses. Hospital Indemnity supplements the existing health insurance helping patients to handle the cost of hospital stays.
What is Hospital Indemnity?
Hospital Indemnity is supplemental insurance added to the existing health insurance to widen the scope of the coverage. It gives cash payments dedicated to helping the patients with the added expenses during recovery. The plan pays depending on the length of stay in the hospital or the number of hospitalization days.
Can I Use Hospital Indemnity With My Existing Medical Insurance?
The patient can use their existing medical insurance along with Hospital Indemnity. Even though the medical insurance covers most of the hospital expenses, hospital indemnity gives payments for extra costs while the patient recovers.
What Can Hospital Indemnity Cover?
A Hospital Indemnity Plan has different areas of coverage depending on the subscribed plan.
The plans for Hospital Indemnity usually cover the following:
For patients who have higher premiums, hospital indemnity may cover other hospital care such as:
Aside from the coverage mentioned above, the Hospital Indemnity Plan can cover hospital chid-birth and post-childbirth hospital stays. The plan can also protect the family in case of a severe accident and provide financial assistance during illness.
The accident insurance can cover the provision of cash payments and can help cover the medical expenses not included in the existing medical insurance. Critical illness insurance provides cash benefits to patients diagnosed with severe illnesses. Hospital Indemnity can help patients afford out-of-pocket services.
Is It Worth It To Have a Hospital Indemnity Plan?
A Hospital Indemnity Plan, as supplemental insurance, usually costs lower depending on its coverage. While existing medical insurance has limitations in hospital coverage, it is essential to consider adding a Hospital Indemnity Plan for added protection and peace of mind in case something unexpected happens.
Additional protection is never a loss. Supplemental insurance such as a Hospital Indemnity Plan can help the patient focus on recovery instead of worrying about hospitalization expenses. Aside from the peace of mind, It can also provide financial protection because it covers the additional costs that the existing medical insurance cannot cover.
At Liberty Benefit Consultants, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get insurance that fits your needs. You can get more information about our products and services by calling our agency at (316) 686-5433. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Please contact us today to go over your policy to ensure your needs are met! We are here and happy to help.