Why offer group hospital indemnity insurance?
Hospital indemnity insurance provides a predetermined benefit amount while the insured is in the hospital. The average length of stay in the hospital is 4.6 days, with the average cost per stay totaling about $12,1831
- Cash benefit is paid directly to employees — to use any way they wish, including out-of-pocket, non-covered and cost-of-living expenses
- Payout doesn’t depend on income or participation in other employer insurance offerings
- Amounts of coverage available without a medical exam
What does group hospital indemnity insurance cover?
Standard benefits include:
Non-standard benefits include:
12 additional situations, including these highlighted features:
Standard and non-standard benefits paid depend on the number of benefits for which the insured qualifies, the care they receive and the terms and conditions of the policy.