Fixed indemnity insurance
Hospital and doctor fixed indemnity insurance
Unexpected medical bills can disrupt even the healthiest home budgets. A fixed indemnity plan, like Health ProtectorGuard1 underwritten by Golden Rule Insurance Company, can help you deal with unplanned expenses. A Health ProtectorGuard hospital and doctor fixed indemnity insurance plan pays you or your provider a preset — or fixed — amount of money for specific, covered medical services.
What do Health ProtectorGuard fixed indemnity plans cover?
Health ProtectorGuard1 fixed indemnity plans help cover some of the most common medical costs you and your loved ones might face. These plans offer a preset benefit amount. You may be able to:
- Apply benefit payments toward your other health plan's deductible
- Get cash to help cover prescription drug copays
- Help pay your share of lab or diagnostic costs, like for blood tests or X-rays
- Have money for unforeseen expenses from a planned or an unplanned surgery
Note: No insurance plan covers everything. The Health ProtectorGuard product brochure has more detailed information to help you decide if this coverage will work for you.
How do Health ProtectorGuard fixed indemnity plans work?
- You or your provider submit a covered expense. The fixed benefit for that covered service is then paid, regardless of other insurance coverage you may have.
- You don't have to meet a deductible before you receive benefits
- You choose the doctor or health facility you need2
- You can go to any doctor or health care facility you want. However, you may save money with discounted rates for services if you use providers in your plan's network (varies by state).
- You can apply year-round, not just during an enrollment period or because of special circumstances
Learn more about Health ProtectorGuard fixed indemnity insurance
What is indemnity insurance?
Indemnity insurance is also known as fixed benefit insurance or fee for service insurance. An indemnity plan offers limited benefits. It’s meant to supplement a more traditional health insurance plan.
How is a fixed indemnity plan different from traditional health insurance?
- With traditional health insurance, your plan typically pays for all or a percentage of covered expenses after you meet a deductible, pay a copay or reach an out-of-pocket cost limit. You pay for qualified expenses first, then your insurance company usually covers the rest.
- Fixed indemnity insurance flips how you’re paid. You or your provider are paid a predetermined, fixed amount of money for certain health care expenses. After that, you’re responsible for the rest.
Indemnity insurance and the ACA
Fixed indemnity insurance is not major medical insurance.
- Indemnity insurance does not provide the coverage required under the Affordable Care Act (ACA)
- It does not provide coverage for all the essential health benefits outlined in the ACA
- It will most likely not provide coverage for expenses from preexisting medical conditions
Health ProtectorGuard fixed indemnity plan benefits
- Preventive care benefits available on most plans may help you stay healthy with wellness visits3
- Unlimited inpatient hospital stays and surgical benefits. No matter how long you’re in the hospital or how many surgeries you have, you may receive benefits.4
- Prescription benefits included with many plans. All plans offer a prescription drug discount card to help lower your out-of-pocket costs.5
- Convenient telehealth (virtual visit) benefits included with many plans
- Some benefits increase the longer you have a plan (see your state’s product brochure for details)
Frequently asked questions about hospital and doctor indemnity insurance
Indemnity insurance can help you manage potential out-of-pocket costs from your main health insurance plan. This includes expenses like deductibles, copays and coinsurance — things you pay before your insurance plan pays benefits.
Health ProtectorGuard fixed indemnity insurance can help you pay for some of these out-of-pocket costs you’re responsible for under your main medical plan. Learn more about fixed indemnity insurance and shop plans.
Nothing beyond your monthly premium, which is what you pay to have the plan. You don’t have deductibles or copays with fixed indemnity insurance. If you have a covered expense, the benefit is paid after the claim is submitted.
Once you receive a qualified service, the health facility, your doctor or you submit a claim for that service. The preset benefit is then paid. If the preset amount doesn't cover the total expense, you pay what's left of the bill.
Yes. The fixed indemnity insurance plan pays you for the covered expense, even if your other health insurance plan also covers that service.
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