How does an indemnity plan work with Medicare? Most Medicare plans have deductibles, copays, or coinsurance that you need to pay out-of-pocket in the event of a hospital stay. As an example, if you have Original Medicare you’ll have to pay, your Part A deductible, out-of-pocket, before your plan will begin to pay for covered hospital services. And that’s only if you’re admitted.
Hospital Indemnity Insurance Helps Protect You From Costs Medicare Insurance Does Not Cover.
It’s becoming more common that Medicare beneficiaries are entering hospitals as observation patients, which isn’t covered by Part A of Original Medicare. In fact, in the span of 8 years, the number has doubled to nearly 1.9 million beneficiaries. That means you can’t count this time in observation towards the three-day inpatient hospital stay needed for Medicare to cover your skilled nursing facility stay.
A Hospital Indemnity insurance plan can provide help to offset costs not covered by your insurance plan if you are hospitalized. These costs can include deductibles, copays, and other unexpected or additional expenses. Benefits are paid directly to you, or a medical provider that you designate, and are paid in addition to any other health care coverage.
Some of the advantages of Aetna’s Hospital Indemnity plans are:
- Daily hospital coverage up to $300 per day for up to 20 days per period of care with a lifetime maximum of 365 days
- Daily Nursing/Assisted Living facility care up to $300/day maximum
- A lump sum amount if you are confined in a hospital
- Observation stays are included
- This isn’t a one-time payout. A new benefit period begins each time you’ve been released from the hospital and 60 days has elapsed. The policy pays every new benefit period.
- Policies are guaranteed renewable for life as long as premiums are paid on time.
If you want protection from unexpected out-of-pocket hospital costs, give HealthSpire a call today at (888) 392-0262 (TTY: 711) to see if a Hospital Indemnity insurance plan could be right for you.
A Hospital Indemnity Plan Gives You Protection
You have two main choices for a Hospital Indemnity plan. One will pay you a lump sum if you’re confined in a hospital (Hospital Admission Indemnity). The number of days you’re in the hospital doesn’t change the total amount you’ll be paid. The other choice will pay you a set amount for each day that you’re confined in the hospital (Daily Hospital Indemnity). Both will pay you for either an observation or inpatient stay.
You’ll want to decide which type of Hospital Indemnity plan and coverage amount makes the most sense for your personal situation. A major factor is the amount of out-of-pocket expense you would be responsible for your current insurance coverage if you were hospitalized.
Understand Your Options
Your licensed, dedicated HealthSpire TeleAgent can help you understand your Hospital Indemnity options along with other benefit coverage options to help limit out-of-pocket hospital costs. Call today at (888) 392-0262 (TTY: 711) to explore your options.
You have no obligation to enroll. We’ll help you find the right plan:
- Get plan recommendations from a wide range of insurance carriers
- We’ll walk you through the enrollment process step-by-step when you’re ready
- Speak to a dedicated, licensed TeleAgent with a commitment to simplifying Medicare for you
Just call (888) 392-0262 (TTY: 711) from the comfort of your home at your convenience, or click here to schedule a time for us to contact you.
What Our Customers Are Saying:
“Nzinga was professional yet friendly and did an excellent job of explaining and enrolling us in our new Aetna plan.”
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