Hospital Indemnity Insurance
The aggregate cost for all U.S. hospital stays in 2011 was $387.3 billion with an average cost per stay of $10,000.1 And, despite having medical coverage, many people are not adequately prepared for the out-of-pocket expenses associated with a hospital stay.
Hospital indemnity insurance is an easy way to provide employees with added protection to meet their individual needs, without increasing benefits costs. It can complement existing medical coverage and help narrow gaps in coverage caused by out-of pocket expenses - such as deductibles, copays, coinsurance and non-covered services - that result from a hospital stay.
- Benefits are paid regardless of what is covered by medical insurance
- Lump sum payments are made directly to the covered employee to spend as he or she chooses
The Right Solutions
MetLife Hospital Indemnity Insurance plan designs are based on market trends and industry benchmarks. This can help minimize employees' financial stress and provide them with immediate value while maximizing their benefit dollars.
Common covered benefits2:
- Accident - Admission and Confinement
- Sickness - Admission and Confinement
- Supplemental Benefits - Health Screening3 and Lodging4
- Guaranteed issue coverage5
- No age limitations on coverage for employee or spouse/domestic partner6
- Portability (continuation of coverage)
METLIFE'S HOSPITAL INDEMNITY INSURANCE IS A LIMITED BENEFIT GROUP INSURANCE POLICY. The policy is not intended to be a substitute for medical coverage. The policy or its provisions may vary or be unavailable in some states. There is a preexisting condition exclusion for hospital sickness benefits. There is a benefit reduction at age 65. And, like most group accident and health insurance policies, polices offered by MetLife may include waiting periods and contain certain exclusions, limitations and terms for keeping them in force. For complete details of coverage and availability, please refer to the group policy form GPNP12-AX or GPNP12-HI or contact MetLife. Benefits are underwritten by Metropolitan Life Insurance Company, New York, New York. In certain states, availability of MetLife's Group Hospital Indemnity Insurance is pending regulatory approval.
1Costs for Hospital Stays in the United States, 2011. HCUP Statistical Brief #168. December 2013. Agency for Healthcare Research and Quality, Rockville, MD.
2Hospital does not include certain facilities such as nursing homes, convalescent care or extended care facilities. See MetLife's Disclosure Statement or Outline of Coverage/Disclosure Document for full details.
3The Health Screening Benefit is not available in all states. In most states where the benefit is available there is a 30 day waiting period for the Health Screening Benefit.
4Provides a benefit for lodging for a companion accompanying a covered insured while hospitalized, provided that lodging is at least 50 miles from insured's primary residence.
5Coverage is guaranteed provided (1) the employee is actively at work and (2) dependents to be covered are not subject to medical restrictions as set forth on the enrollment form and in the Certificate. Some states require the insured to have medical coverage. Additional restrictions apply to dependents serving in the armed forces or living overseas.
6Children are covered to age 26. There is a benefit reduction at age 65.