Hospital Indemnity Plans
The Hospital Indemnity Plan is NOT a comprehensive major medical plan. These plans include benefits for hospital confinement and specified medical and surgical events. Such plan pays you the specified cash amount for each covered service, regardless of what the provider charges you. Cash benefits are paid directly to you and may be used for any purpose. Normally, there is no deductible with the Hospital Indemnity Plan.
Hospital Indemnity Plan Benefits
- Daily hospital benefits
- Hospital admission benefits
- Surgical benefits- inpatient and outpatient
- Emergency room and Urgent care benefits
Benefits for room and board are on a per-day dollar amount basis; benefits for surgery use the surgical schedule and include the maximum benefit allowed. Most plans have limits on the maximum benefits per calendar year, and maximum lifetime benefit.
Many policies include limitations on preexisting medical conditions. For example, benefits are not paid until you have a policy for 12 months. Some policies include an elimination period, i.e. benefits are paid ONLY after you have been hospitalized for a number of days
Optional riders are often available; for example, Outpatient Rider that includes doctor’s visits, and Prescription Drug Rider
Short Term Health Plans
A Short Term Health Insurance Plan is a temporary solution to a short-term insurance gap. Most plans are for one to eleven months, and can be renewed for 3 years. It works like an indemnity plans, i.e. you may visit ANY doctor or specialist. (Many insurance companies have their own network; there are substantial savings for staying within the network). Since there is low-risk of the short-term policy holders for insurance providers, premiums are relatively low.
Short Term Health Plan Benefits
Benefits are wide ranging and include surgery, hospital care, emergency services, diagnostic tests, and prescription drugs. Doctor’s visits may also be included.
Short Term Health Plans do not cover pre-existing conditions (defined as conditions within 3 years before coverage has begun). They also have a list of limitations and exclusions that you should become familiar with.
If you’ve filed a claim under existing policy your policy may NOT be renewed, but another policy may be suggested.
Deductible are either per-injury (per-illness) or for the selected time period (term).
Let Liberty Medicare help you choose an Indemnity Health Plan
Liberty Medicare is here to help you during every stage of selecting and enrolling in the best and most suitable Indemnity Health Plan for you.
As an independent insurance agency, we will provide you the benefits of objectivity in reviewing multiple plans. We’ll help you to understand the insurance industry jargon and ‘fine print’.
If you are considering buying a Hospital Indemnity Insurance Plan or Short Term Health Insurance Plan, let us guide you. All our services are offered to you at no cost. To see real quotes from insurance providers, fill out our Individual Health Quote form or give us a call at 877-657-7477.