Hospital Indemnity Insurance
Even with good health insurance, out-of-pocket medical expenses, loss of income and recovery costs can turn a hospital stay into a very expensive occurrence. Supplemental health benefits, such as Zurich’s Hospital Indemnity Insurance, can help manage healthcare expenses by paying a benefit for hospitalization due to a covered accident or sickness. Plans can also include benefits for doctor office visits, emergency room treatments and more.
What is Hospital Indemnity Insurance?
Hospital Indemnity Insurance coverage is a supplemental benefits insurance plan that can be offered by employers, associations, financial institutions and affinity groups to help their employees, members or customers pay for the costs of hospitalization. It can help with out-of-pocket medical expenses, household bills or lost income if the insured person can’t work due to an accident or sickness — putting the priority back on their recovery.
How does Hospital Indemnity Insurance work?
Zurich’s Hospital Indemnity plan provides a flat amount paid to a covered individual admitted to a hospital for an illness or accident. Coverage options and enhancements can be added to the plan (read more below). Benefits are paid directly to the insured individual, who can use the benefit however they wish. This allows the insured individual flexibility to help manage the various types of expenses that can arise.
What does Hospital Indemnity Insurance cover?
As mentioned above, the benefit for a covered individual can be used however the beneficiary chooses. Zurich’s flexible Hospital Indemnity plan can be tailored to the specific needs of each organization through coverage options and enhancements including family plans, broad limits and additional benefits* for emergency care, intensive care, continuous care and more. Coverage can be layered with other Zurich Supplemental Benefits, including Critical Illness Insurance, Group Personal Accident and Accidental Death and Dismemberment (basic and voluntary AD&D) coverage; Travel Protection, specialty health solutions and more.
* Some optional enhancements may not be compatible with high-deductible health plans involving a tax-advantaged health savings account (HSA).
Why should you offer Hospital Indemnity Insurance?
Healthcare costs are a major concern for most people, so your organization’s ability to offer additional coverage not included in most general health insurance policies can be a great advantage in attracting and retaining employees, members or customers. For employers, this offering can help bring in top talent and let them know you’re looking out for their interests. For associations and affinity groups, it’s a benefit that will appeal to new and existing members. And financial institutions can use the coverage offering to show customers they have a wider view on how to help them protect their savings.
With flexible plans, customizable group-priced benefit solutions, and a dedicated support team, Zurich is ready to help your organization make this supplemental benefits insurance coverage a valuable part of your benefits package.
Related insurance offerings
The strength of Zurich’s Hospital Indemnity Insurance goes far beyond policy details. We offer a dedicated support team for coordination of plan development, marketing, administration onboarding, and program management. We provide you with a single point of contact, as well as administration that details processes, forms, and group/individual contact information. We’ll work with you to help simplify the administration of your program and we’re always ready to answer questions to help address your needs and those of your members or employees.