“Expect the unexpected” is a familiar mantra. Why? Because life has a habit of throwing you a curve ball every once in a while. When that surprise comes in the form of an unexpected accident requiring a hospital stay, you and your family are hit with a double-whammy. Because not only are you concerned about getting better, you’re also worried about the financial impact of this hospitalization on your family.
There’s reason for this concern: Hospital stays are expensive with the average hospital stay costing nearly $10,700.1
And unfortunately, hospital stays are more common than you might think. Over 36 million people are admitted to U.S. hospitals each year.2
Hospital indemnity insurance offers a way to help buffer the costly effect of hospitalization on your family.
What is hospital indemnity insurance?
Hospital indemnity insurance complements your existing health insurance plan by paying you cash benefits when you’re hospitalized due to covered accidental injury or sickness.
Why get hospital indemnity insurance?
If you require hospitalization, all of your expenses may not be covered by private health insurance or Medicare. This could put undue financial burden on you and your family at a time when you want to focus on your recovery, not your bills. Hospital indemnity insurance can help lessen your financial stress in the event of hospitalization. Watch our video to learn more:
What types of coverage options are available?
Depending on the policy and options you select, coverage could include a daily hospital stay, day one hospital admission, intensive care unit, emergency room visits and ambulance trips, among other choices.
Read more about what hospital insurance can do for you or talk to a Bankers Life agent to learn more.
Sources:
1Business Insider, The 35 most expensive reasons you might have to visit a hospital in the US—and how much it costs if you do, http://www.businessinsider.com/most-expensive-health-conditions-hospital-costs-2018-2, March 1, 2018.
2American Hospital Association, Fast Facts on U.S. Hospitals 2020, https://www.aha.org/statistics/fast-facts-us-hospitals, 2020.
