The Value of Hospital Indemnity Insurance
What can employees do when faced with unplanned or uninsured expenses resulting from a hospitalization due to sickness or injury? Hospital indemnity coverage is designed to help. It reduces the impact of high deductibles and additional out-of-pocket costs that other insurance may not cover.
Plans that provide a cash payment
Guardian’s Hospital Indemnity plan provide a lump-sum payment directly to employees, even if they don’t incur any out-of-pocket expenses. And the money can be used for any purpose, medical or non-medical.
Coverage that’s needed now
A growing number of people are considered underinsured — having high out-of-pocket costs or deductibles relative to their income. And half of American families are living paycheck to paycheck.1
Not surprisingly, many people are putting their health at risk by:
- Skipping doctor visits
- Delaying surgery
- Avoiding x-rays and blood tests
Highly flexible benefits
Guardian Hospital Indemnity Insurance provides a core admission benefit that covers members who are admitted to a hospital or intensive care unit (ICU) because of a covered sickness or injury. You can help your clients customize a plan to complement other Guardian supplemental health products or plans from other providers. And you can offer attained or issue-age rates.
It can be part of a total solution for your clients
With Guardian’s comprehensive suite of supplemental health insurance products — Accident, Cancer, Critical Illness, and Hospital Indemnity — your clients can count on a single provider to help cover the costs medical insurance may not cover. And all are available from one of America’s most respected insurance companies.
Frequently asked questions
- Why should brokers consider offering supplemental hospital indemnity insurance?
Supplemental health products like Hospital Indemnity Insurance are some of the fastest-growing and most sought-after employee benefits.4 -
What range of Hospital Indemnity coverage can you offer?
- Hospital Admission / Intensive Care Unit Admission Benefit:
Coverage levels from $500 to $10,000 per day (in $250 increments). Standard offering is 1 day per covered person and 3 days per covered family. Additional options are 2 days per covered person and 2 or Unlimited per covered family. - Hospital Confinement / Intensive Care Unit Confinement Benefit:
Coverage levels from $100 to $500 per day (in $100 increments). Standard offering is 15 days. Additional options are 30, 180, or 360 days per covered person.
- Hospital Admission / Intensive Care Unit Admission Benefit:
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When can employees apply for Guardian Hospital Indemnity plans?
All enrollments must be done during the open enrollment period.