4 Important Facts You Need To Know About Hospital Indemnity

In today's uncertain healthcare landscape, families are increasingly looking for ways to protect themselves from unexpected medical bills. One option that can provide some peace of mind is hospital indemnity insurance. But what is it? And more importantly, should you avail of it? Here are four essential things to know about hospital indemnity insurance.

1) Indemnity Payouts Cover Health Insurance Deductibles

Hospital stay in the U.S. is costly enough to top the yearly deductibles of most medical plans. You can use indemnity insurance to cover health insurance deductibles and other out-of-pocket costs.

The beneficiaries can use the payment for whatever purpose they find suitable, including medical bills, medication costs, and even childcare.

2) Makes Health Insurance Better

There's a difference between health insurance and hospital indemnity. Health insurance pays for specific medical services, while indemnity insurance triggers only when specific events related to hospital visits occur. In short, hospital indemnity supplements health insurance instead of replacing it. The policy makes your life easier by paying benefits if you're hospitalized. It also includes the benefits of treatment in emergency rooms and benefits for specific outpatient procedures.

3) Hospital Indemnity Offers Great Benefits for Families

The insurance payment is considered a reimbursement for covered expenses incurred during hospitalization. If you or a family member were hospitalized and already paid cash, then this benefit will come as great help to pay back what you've spent on medical bills.

Hospital indemnity brings more benefits than just covering out-of-pocket costs. It also protects people and their families against financial risks after someone gets admitted to the hospital, like losing income due to illness which could lead to bankruptcy if not supported by extra coverage such as this one.

4) Hospital Indemnity Plans Are Affordable

One of the most attractive benefits of this type of insurance is that it's affordable. You can buy most indemnity plans for as low as $50 to $100 per month, making them very wallet-friendly. Even if you're not employed, you can still purchase this insurance and enjoy its benefits, just like those people who are employed at companies that offer group hospitalization coverage.

We know that medical care is expensive, but are you prepared for the costs of hospital indemnity? If not, it's time to acquire a policy. Medical expenses can be pretty costly, and if something happens outside of your health insurance plan, you may find yourself on the hook for an even bigger bill. Hospital indemnity protects you by covering some or all of those costs so that you don't have to worry about them again.

If you’re looking for a hospital indemnity insurance plan, your options can be overwhelming. The Buse Group LLC is an independent agency with years of relevant experience in the industry, and we're here to help answer all your questions! Schedule a meeting with our team at ZIP code 15102, PA, today and learn more about the plan.