Indemnity Plans: A Great Way to Cover Out-of-Pocket Expenses

Chances are your health insurance plan leaves you with out-of-pocket expenses. Whether you are covered by individual health insurance, group medical insurance or Medicare, co-pays and deductibles are a reality.

Hospital Indemnity Insurance can provide gap coverage to help offset these expenses. This type of insurance can pay you a daily benefit. The money can be used to help with hospital co-pays, or it can be used to help with incidental expenses not covered by your medical insurance.

Some policies may pay you additional benefits beyond inpatient hospital stays. Ambulance trips, skilled nursing facility visits, outpatient surgery and durable medical equipment are just a few of the ancillary benefits available with hospital indemnity policies.

Short-Term Care Insurance can help you plan now for the level of care you would want in case of an accident or illness that requires assistance and care during recovery.  Advantages of a short-term policy:

• Freedom to choose how and where to recover
• Helps to pay for out-of-pocket costs for medical expenses
• Protects savings
• Can offset the cost of deductibles, co-pays, and unexpected expenses not covered by other insurance plans
• Paid in addition to any other health care coverage
• Benefits paid directly to the policyholder or a designated medical provider

Footnote: This is a brief overview of the coverage that can be included in an indemnity insurance policy.  An indemnity policy is a supplement to health insurance and is not a substitute for major medical coverage.