March 2, 2022
2 minute read

Hospital Indemnity Insurance: What You Need to Know

If you’re admitted to the hospital suddenly, can you afford an extended hospital stay? Because 7 in 10 Americans are living paycheck to paycheck, a sudden emergency room visit could impact many families financially. And hospital visits aren’t that uncommon.1

Did you know that in 2018, there were 130 million emergency department visits? Out of those 130 million, 35 million of those visits were injury-related. And unfortunately, 16.2 million visits required hospital admission.2 Thankfully, there is a supplemental insurance plan that can help cover the costs of extended hospital stays: hospital indemnity insurance.

What Is a Hospital Indemnity Insurance Plan?

Hospital indemnity insurance is coverage you can add to your existing health insurance plan. This form of supplemental insurance pays you a predetermined benefit amount per day for each hospital confinement. The insurance company usually pays this daily benefit amount for up to a year.

What Does a Hospital Indemnity Policy Cover?

The coverage your hospital indemnity insurance provides will depend on your plan selection. In general, most plans cover:

• Hospital confinement (with or without surgery)
• Intensive Care Unit (ICU) confinement
• Critical Care Unit (CCU) confinement

However, there are plans that cover even more. Some hospital indemnity coverage also includes :

• Outpatient surgery
• Continuous care
• Outpatient X-rays and laboratory procedures
• Outpatient diagnostic imaging procedures
• Ambulances
• Emergency rooms
• Physician office visits

How Much Does Hospital Indemnity Coverage Cost?

The monthly cost of a hospital indemnity plan will depend on your plan and company choice, as well as your age, gender, location, and possibly your deductible amount.

Get a quote now and learn more about exact benefits and coverage costs available in your area, at no cost to you.

Is Hospital Indemnity Insurance Worth Getting?

In 2019, the average inpatient hospital stay was $2,607, according to the Kaiser Family Foundation.3 With a comprehensive health insurance plan, you’re still responsible for copays and coinsurance. On top of that, you’re still required to pay your annual deductible before your plan will start covering the cost of your care. Can you predict how much you’ll owe without hospital indemnity insurance?

Are There Waiting Periods for Benefits?

Waiting periods vary by insurance company for hospital indemnity insurance. In general, there may be a 30-day waiting period before your benefits can be used toward an illness that results in hospital confinement. However, there may not be a waiting period for accidental injuries that land you in the hospital. Make sure to ask your licensed insurance agent about waiting periods before purchasing a hospital indemnity insurance policy.

How Does It Pay Out Benefits?

Like most supplemental insurance plans, hospital indemnity insurance pays direct cash benefits. This means the benefit amount you’ve chosen is sent directly to you instead of to your doctor or hospital.

Can You Add Dependents to a Hospital Indemnity Plan?

Yes, it’s possible to add your family members, including your dependent children and/or spouse, to some hospital indemnity plans. However, there may be an additional monthly premium per dependent.

Where Can You Get Hospital Confinement Indemnity Insurance?

You can apply for hospital indemnity insurance online with HealthMarkets. Choose a plan, determine a benefit amount that matches your household coverage needs, and find a premium amount that fits your budget.

Get started reviewing your options now. You can also call (800) 827-9990 to speak with a licensed insurance agent today.

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© 2023 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week). If your complaint involves a broker or agent, be sure to include the name of the person when filing your grievance.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE (TTY users should call 1- 844-704-7357), 24 hours a day/7 days a week, to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and DC. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency offers the opportunity to enroll in either QHPs or off-Marketplace coverage. Please visit HealthCare.gov for information on the benefits of enrolling in a QHP. Off-Marketplace coverage is not eligible for the cost savings offered for coverage through the Marketplaces.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

46113-HM-0222

© 2023 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week). If your complaint involves a broker or agent, be sure to include the name of the person when filing your grievance.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE (TTY users should call 1- 844-704-7357), 24 hours a day/7 days a week, to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and DC. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency offers the opportunity to enroll in either QHPs or off-Marketplace coverage. Please visit HealthCare.gov for information on the benefits of enrolling in a QHP. Off-Marketplace coverage is not eligible for the cost savings offered for coverage through the Marketplaces.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

46113-HM-0222

© 2023 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week). If your complaint involves a broker or agent, be sure to include the name of the person when filing your grievance.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE (TTY users should call 1- 844-704-7357), 24 hours a day/7 days a week, to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and DC. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency offers the opportunity to enroll in either QHPs or off-Marketplace coverage. Please visit HealthCare.gov for information on the benefits of enrolling in a QHP. Off-Marketplace coverage is not eligible for the cost savings offered for coverage through the Marketplaces.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

46113-HM-0222