Hospital Indemnity Policies: What You Need to Know
Health insurance is hardly a one size fits all industry. Different people need and want different coverage based on their lifestyle and what they can afford.
Based on these and additional personal factors, people choose to enroll in various coverage plans. One policy type that someone might choose to opt into is hospital indemnity coverage. Keep reading to understand more details about hospital indemnity coverage, what it is, who needs it, and what it covers.
What is hospital indemnity coverage?
Hospital indemnity insurance is a supplemental coverage option that supports the financial aspect of your health coverage. It is intended to cover the costs of hospital stays and emergency care that are not otherwise covered under a typical insurance plan.
Hospital indemnity coverage may vary slightly from one plan to another. Most commonly, hospital indemnity insurance covers the following:
Critical care unit stays
Outpatient x-rays and laboratory procedures
Outpatient diagnostic imaging procedures
Physician office visits
Generally, hospital indemnity plans have lower premiums compared to other insurance, but depending on your coverage that can increase.
Who needs hospital indemnity coverage?
Obviously, in most cases, accidents can’t be predicted or prevented, hence why they’re accidents. That being said, in some cases, certain people may be more inclined to need consistent hospital health services. It’s certainly a worthwhile benefit to have if this is the case or you have the flexibility to afford hospital indemnity insurance.
Oftentimes patients may be surprised and overwhelmed by the bills and financial responsibility that follow a hospital stay. Better to be safe than sorry and protect your finances with additional coverage.
SBMA Benefits offers multiple comprehensive health care plan options in addition to supplemental coverage options such as hospital indemnity coverage. For details about our plans or to enroll today, contact us directly or speak with one of our brokers.