Hospital Admission
Some policies may pay a fixed benefit for a qualifying covered hospital admission, subject to definitions, frequency limits and other policy provisions.
HOSPITAL INDEMNITY INSURANCE
Hospital Indemnity Insurance Help in Tulsa, Oklahoma
Hospital indemnity insurance is supplemental coverage that can pay fixed cash benefits when a covered hospitalization or other covered event occurs. Great Nation Insurance can help explain the hospital indemnity options we offer, including benefit amounts, covered events, waiting periods, limitations and how the coverage may work alongside your primary health insurance or Medicare.
What Is Hospital Indemnity Insurance?
Hospital indemnity insurance is limited supplemental coverage. Depending on the policy, it may pay a predetermined benefit for a covered hospital admission, each covered day of hospital confinement, or other specifically listed events or services.
The benefit is based on the policy's schedule and requirements rather than the amount of your hospital bill. It is not comprehensive major medical insurance and is not intended to cover every medical expense.
Benefits a Policy May Include
Daily Hospital Confinement
A policy may pay a specified amount for each eligible day you are confined in a hospital, up to the policy's stated limits.
Intensive Care
Some products may provide an additional or different fixed benefit for qualifying intensive-care confinement.
Other Specified Benefits
Depending on the product, additional fixed benefits may be available for specifically listed events or services. These vary significantly by policy.
How Can the Cash Benefit Help?
When benefits are paid directly to you under the policy, the money can provide added financial flexibility during a covered hospitalization. Depending on your circumstances, it could help with health-plan deductibles or copayments, transportation, meals, household bills, rent or mortgage payments, or other expenses.
The policy pays only when its benefit requirements are satisfied. The cash benefit may be less than your actual hospital or medical expenses.
Hospital Indemnity and Medicare
Hospital indemnity insurance is separate supplemental coverage. It is not Medicare, Medicare Advantage, or Medicare Supplement (Medigap) insurance and should not be represented as a replacement for those coverages.
If you have Medicare or another health plan, that coverage operates according to its own benefits and cost-sharing rules. A hospital indemnity policy pays according to its separate contract when a covered event qualifies.
What Should You Review Before Enrolling?
Benefit Triggers
Review exactly what qualifies as a covered admission, confinement or other event and when a benefit becomes payable.
Benefit Amounts & Limits
Check fixed dollar amounts, maximum covered days, frequency limits and any other policy maximums.
Waiting & Eligibility Rules
Review the effective date, eligibility requirements and any applicable waiting periods or preexisting-condition provisions.
Exclusions & Definitions
Read how the policy defines a hospital, admission, confinement and covered sickness or injury, along with exclusions and limitations.
Common Hospital Indemnity Questions
Is hospital indemnity insurance the same as health insurance?
No. Hospital indemnity insurance provides limited supplemental benefits and is not a substitute for comprehensive major medical coverage.
Does the benefit equal my hospital bill?
Generally no. Hospital indemnity policies pay predetermined benefits according to the policy rather than reimbursing the exact amount of your hospital bill.
Can I use a cash benefit for everyday expenses?
When a policy pays benefits directly to you for your use, those funds can provide flexibility for medical cost sharing or non-medical expenses. Review the contract for how benefits are paid.
Does every hospital stay qualify?
No. The stay or event must satisfy the policy's definitions and requirements. Exclusions, limitations, waiting periods and benefit maximums may apply.
Can Great Nation Insurance help compare hospital indemnity options?
Yes. We can explain and compare the hospital indemnity products we offer, including benefit schedules, eligibility, waiting periods, exclusions and limitations.
Request Hospital Indemnity Insurance Information
Tell us how to reach you and Great Nation Insurance can contact you to discuss the hospital indemnity insurance options we offer.
OR CALL (918) 895-2000
Hospital indemnity insurance provides limited supplemental benefits and is not a substitute for comprehensive major medical insurance, Medicare, Medicare Advantage or Medicare Supplement insurance. Benefits, definitions, waiting periods, exclusions, limitations, preexisting-condition provisions, eligibility and availability vary by insurance company and policy. Review the applicable policy and carrier materials for complete terms and conditions.