![]() ![]() You may pay much less if you get coverage through your employer as part of its benefits package. Hospital indemnity insurance can start at about $10 a month for individual coverage, according to Cigna. How Much Does Hospital Indemnity Insurance Cost? You want peace of mind for worst-case scenarios.You expect to need out-of-network care and want help to pay for the extra costs.You have a high-deductible health insurance plan, which has higher out-of-pocket costs.You want extra coverage in case of accidents.You’re pregnant or plan on becoming pregnant, and coverage could be provided for any extra days you stay in the hospital after childbirth.You have an upcoming procedure or surgery where a visit or stay in the hospital could be required.You have a chronic condition, like heart disease or diabetes, that could lead to hospitalization.But how do you know if you should purchase this secondary health insurance coverage? Here are a few reasons to consider hospital indemnity insurance: Hospital indemnity insurance doesn’t replace your medical insurance. Who Should Get Hospital Indemnity Insurance? Here are insurance companies that offer indemnity insurance for individuals: Fewer companies also let you buy individual hospital indemnity insurance directly from them. Insurance companies including Aflac, Allstate, MetLife, Mutual of Omaha and Protective offer hospital indemnity insurance through employers. Where Can You Buy Hospital Indemnity Insurance? ![]() Benefit reductions at a certain age, such as 70.Intensive care unit benefits, which could be 200% of the daily benefit, for example.Hospital benefit limit for total days, such as 180 consecutive days.Hospital daily benefits, which is a set dollar amount that could be $100 to $1,000.Hospital indemnity insurance policies also have limits, including: It is meant for more serious medical needs, such as hospitalizations. Hospital indemnity insurance won’t help you with regular doctor visits and tests. It’s instead meant to supplement a health plan. Hospital indemnity insurance doesn’t cover medical care like a health insurance plan and it’s not a substitute for health insurance. What Doesn’t Hospital Indemnity Insurance Cover? Hospital indemnity insurance policies may also cover your spouse and family. Some hospital indemnity insurance policies may also cover: This type of plan doesn’t have deductibles, coinsurance or network restrictions.Ĭircumstances that would generally lead to payout would be: Typical health insurance has specifications on covered services whereas hospital indemnity insurance can be distributed in whatever way you need. Hospital indemnity insurance provides a payout to you based on circumstances related to hospitalization or other specific health care services. What Does Hospital Indemnity Insurance Cover? Please see our Privacy Policy for more information and details on how to opt out. By providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. ![]()
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