HOSPITAL INDEMNITY PLANS

Consider this:

 

• The average expenditure for a hospital stay is $8,793.

 

• The average age of a hospital inpatient is approximately 53; 38% are age 65 years and over and 24% are age 75 years and over.

 

• The average inpatient hospital length of stay is 5.5 days for people age 65 years and over, 5 days for those aged 45-64 years, and 3.7 days for those aged 15-44 years.

 

• The increasing number of Americans age 65+ has the potential to greatly increase the nation's already high health care costs. The cost of providing health care for one person age 65+ is approximately three to five times greater than the cost for someone younger than 65.

 

Hospital indemnity insurance helps cover costs that standard health insurance often doesn’t, especially with hospital stays being both common and expensive. For example, there are over 33.7 million admissions annually in U.S. hospitals.  The average hospital stay is about 5.7 days, which can add up quickly in expenses for lodging, meals, lost wages, and medical co‑pays.  Hospital indemnity plans pay a fixed cash benefit directly to you if you’re hospitalized, which can help deal with those extra costs, such as hospital deductibles, travel, or things your regular insurance may not fully cover.

 

Daily Inpatient Hospital Benefits

 

Hospital Indemnity Plans will pay the daily benefit you selected for covered hospital stays that are due to an Injury or Sickness.  They will pay this benefit for each day you stay in the hospital, up to the number of days you selected, for each period of care.  Full inpatient hospital benefits are restored after you have been out of the hospital for 30 days in a row.