Cash benefits are paid directly to the member to help cover the costs associated with hospital confinement, ambulance trips, skilled nursing stays, or household expenses while hospitalized. Benefits are payable no matter what other medical coverage the member may have.
Hospital stays can have a lot of costs associated that are non-medical and not covered by health insurance. Having the cash benefit can offset some of those costs and greatly reduce the out-of-pocket amount your clients will end up paying for things like transportation, a mortgage, meals for the spouse, lost time at work for the spouse, or prescription drug costs.
A hospital indemnity plan will help pay for out-of-pocket expenses associated with:
Optional add-on riders typically include: