What is hospital indemnity insurance?
Hospital indemnity insurance is also called hospitalization insurance or hospital insurance. These are plans that pay you or your provider benefits when you need care that requires you to stay in a hospital, whether for planned or unplanned reasons, or for other covered medical services, depending on the policy. Medical costs can quickly add up when care in a hospital setting is needed. Hospital indemnity plans offer coverage options designed to help with managing the financial impact of a hospital stay.
Why should I buy hospital indemnity insurance?
Nearly 34 million patients are admitted to the hospital each year.1 Choosing hospital indemnity insurance plans from UnitedHealthcare, underwritten by Golden Rule Insurance Company, can be a way to help prepare your budget in the event this happens to you or your family.
See how choosing a hospital indemnity plan can benefit you
A hospital indemnity plan can help add to your medical coverage by providing a cash benefit to help cover expenses related to a hospital stay, like:
Other non-covered expenses, like transportation
How do hospital indemnity insurance plans work?
When you need to use your hospital indemnity coverage, you can access your benefits by following a few steps.
- Complete a claim form.
- Submit the claim form. Include copies of your receipts for any covered items. Check your plan details for specific coverage information.
- Receive a check. You’ll be issued a benefit check to use as you see fit.2
With some plans, you may have the option to receive a discount on covered services if you use certain providers and have your plan pay that provider directly.
Benefits are paid in a lump sum directly to you or to your provider. Amounts are fixed and determined by your policy, regardless of the amount of expenses incurred.
Frequently asked questions
Get more details about hospital indemnity insurance and how it may help support your budget in the event of an unexpected hospital stay.
No. Hospital indemnity insurance is a supplement to health insurance. It is not a substitute for the minimum essential coverage required by the Affordable Care Act (ACA).
While hospital indemnity plans and fixed indemnity plans are both cash-benefit plans, there are some differences to know when you’re choosing a plan for you and your family.
- Hospital indemnity plans offer a fixed benefit amount for a covered medical service to help you manage costs for hospital stays and hospital-related expenses.
- Fixed indemnity plans, like Health ProtectorGuard fixed indemnity plans, may include a cash-benefit for both hospital-related expenses and additional services, like doctor office visits, prescriptions and more, depending on the plan you choose.
When you’re shopping for a hospital indemnity or fixed indemnity plan, review the details carefully to understand which benefits are included.
Unexpected costs related to a hospital stay can quickly become a financial burden for many people. A hospital indemnity plan may be the right choice for you if you want to have a plan in place to help with managing these out-of-pocket costs. A hospital indemnity plan may be particularly useful if you or your family:
- Have an active lifestyle
- Are aging into a time of life where hospitalization is more likely
- Don’t have savings to help offset hospital expenses
While Hospital SafeGuard plans have no network limitations, you may need to stay with certain networks and providers to get the most coverage out of your major medical plan. Be sure to take that into consideration. Also, with some Hospital SafeGuard plans, you can choose providers in a certain network and have your plan pay those providers directly to receive services at a discounted rate.
Explore more supplemental plans
View more plans, like dental, vision and other cash-benefit plans, that offer coverage for expenses not covered by a medical plan.
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