What is a hospital indemnity plan?I am now enrolling for new insurance. Of course it has health dental vision and life. It also has a hospital indemnity plan. What is it and is it worth it? It costs $ 14.50 for the whole family bi-weekly.
Posted by Sandi A
I'm actually studying to become licensed and its either an additional coverage for hospital care to make up for what the regular insurance doesn't pay OR its one of those plans that pays you directly while you're in the hospital. If you aren't normally sick and rarely have been in the hospital, I wouldn't add it on.
Posted by mbrcatz17
Well, YOU have the paperwork. Is your "hospital indemnity" plan actually INSURANCE? It's not CHARGING you enough to be true insurance. It might just be a discount plan or some such - or maybe this is through an employer, and they're picking up the bulk of it?
Indemnity means, "we pay you back". That means, you submit receipts, they reimburse you. But this may or may not be insurance, it may or may not be an indemnity plan, and it may or may not be a scam.
Again, YOU have the paperwork, you're going to have to read it.
Posted by Zarnev
The hospital indemnity is a rider to your health insurance. It will pay you a set amount if you are admitted to the hospital for a covered reason. They usually only pay if you are there because of an accident. This means if you are there having a baby or because of illness they won't pay. You'll have to read the information to see what is covered.
Is it worth it? It can be, but these riders are very profitable for the insurance companies.
Orignal From: Vision Care: What is a hospital indemnity plan?
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