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Hospital Indemnity Insurance Coverage

The average three-day hospital stay in the U.S. can cost around $30,000.1 Health insurance policies may help pay for a significant portion, but they don’t always cover the total cost. So, a hospital stay could still cause someone financial strain.

Hospital indemnity insurance can be an affordable way to help people fill coverage gaps for hospital stays, allowing them to receive treatment and recover with less worry regarding the financial consequences. Read on to learn how hospital indemnity insurance works and what it covers.

How hospital indemnity insurance works

Hospital indemnity insurance is a type of supplemental health insurance that assists with the costs of being hospitalized. You pay premiums and, in exchange, receive policies that help you pay for covered hospitalizations or other qualifying treatments in a hospital.

Hospital indemnity insurance can complement other supplemental policies, such as accident insurance and short-term disability insurance, quite well. Having these policies together can help prepare you financially for many unexpected situations.

Aflac offers hospital insurance policies that employers can offer to their employees. This can be an excellent benefit for prospective employees, making it a great way to help you attract top talent to your company.

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What costs does hospital indemnity insurance help cover?

Here are some hospital-related costs that hospital indemnity insurance may assist you with:

  • Hospital stays
  • Intensive care
  • Critical care
  • Emergency room visits
  • Some outpatient surgeries
  • Ambulance rides

How much does hospital insurance cost?

The exact premiums for hospital indemnity insurance can vary based on factors like your:

  • Age
  • Insurer
  • Location
  • Coverage amount
  • Deductible

However, policies can generally be quite affordable, with premiums starting around $10 per month. Premiums may be much less for hospital indemnity plans that employers offer to employees as part of their benefits package.2

Benefits of hospital indemnity insurance

Here are some benefits of purchasing a hospital indemnity insurance policy:

Affordable premiums

As mentioned, hospital indemnity insurance plans often start around $10 per month. That can make this type of coverage fit into your budget alongside your regular health insurance.

Provides a financial safety net

Hospital bills alone can add significant costs to your total medical expenses if an injury or illness requires hospitalization. Primary health insurance usually helps cover some, but not all, costs. If you don’t have health insurance, these costs can be severely financially straining.

Hospital indemnity insurance provides a safety net that can help. If you’re insured, it can help fill critical gaps that may exist in your health coverage and can help significantly reduce your out-of-pocket expenses.

Customizable coverage

You can typically customize your hospital indemnity coverage to best fit your needs. You get to choose the amount of coverage, and you can shop with several insurers to find the policy with the best rates and terms for you.

Provides flexibility

Hospital indemnity insurance typically does not have a network of providers you must stay in to get coverage. This offers more flexibility than many traditional health insurance policies. For example, you may need to be transported to a hospital outside your health insurance network. Your hospital insurance policy can help cover at least part of the hospital stay to reduce out-of-pocket costs.

Is hospital indemnity insurance worth it?

Aflac hospital indemnity insurance can be a worthwhile investment for those who may need to visit the hospital in the future or for those who want to be better prepared for the unexpected. Here are a few situations where one of these policies can be worth it:

  • You have a chronic condition that could lead to future hospitalization.
  • You have a high-deductible health insurance plan and want extra coverage that can help bring down your out-of-pocket costs.
  • You want additional peace of mind in case a future accident or illness requires hospital stays.

In any of these situations, hospital indemnity insurance can help give you a financial safety net, allowing you to worry less about hospital bills.

Get a quote for hospital insurance

Health insurance covers many medical costs but may not pay for an entire hospital stay. Luckily, hospital indemnity insurance can help fill those gaps with low rates that fit most budgets. This makes these policies suitable for a variety of people who want less financial stress if they need to visit the hospital.

If you’re an employee, start the conversation about hospital insurance with your employer and provide them with more information about how it can benefit you and the company. If you’re an employer, speak with an Aflac agent to learn how hospital insurance may increase employee satisfaction and help attract top-quality job candidates.

Still have questions?

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