With the rise in popularity of Medicare Advantage plans, we’ve seen a reduction in monthly premiums, (most plans are at $0) and an increase in hospital and other co-payments. While $0 premium is attractive to many people, large hospital co-payments are not.
As such, we’d like to introduce you to a plan that pays you cash benefits to help you offset the rising cost of co-payments. It’s called Hospital Indemnity Insurance.
What Is Hospital Indemnity Insurance?
Hospital indemnity insurance is a type of insurance that helps cover some of your co-payments, deductibles, and out-of-pocket expenses. This insurance pays you cash to help cover costs associated with hospital care, ambulance rides, accidents, rehab or nursing facility stays, and more!
How Does Hospital Indemnity Insurance Work?
Let’s say your on a Medicare Advantage plan and you are hospitalized for 3 days. You may be asked to pay upwards of $300 co-payment per day as part of your Mediare Advantage plan benefits. That’s a $900 expense.
However, if you purchased a Hospital Indemnity plan to go along with your Medicare Advantage plan, the Hospital Indemnity plan would pay you cash to help offset the co-payments on your Medicare Advantage plan. (Somewhere between $100 to $750 per day based on your plan)
Imagine the peace of mind getting cash to off-set or in some cases completely cover your co-payments.
That’s why many of our customers have opted to purchase Hospital Indemnity plans to help offset those unexpected co-payment and co-insurance.
Take Action!
Hospital stays and other admissions are something that no one plans for, but the co-payments and co-insurance can add up quickly!
If you’d like to learn more about how a Hospital Indemnity plan can help with your co-payments and co-insurance, give one of our trusted advisors a call at 877-404-8060. You’ll be glad you did!
