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Workplace Benefits

The Insurance You Could Use if You End Up in the Hospital

3 min read Sep 08, 2020

Even a quick trip to the hospitalcan result in unexpected expenses. Your existing coverages may not help pay for all these costs, such as co-pays and emergency childcare.

This is where hospital indemnity insurance can help, giving you a lump-sum payment to help pay for whatever you see fit, which could include expenses that result from your hospital stay.

Intrigued? Read on to learn more about hospital indemnity insurance.

1. Who needs hospital indemnity insurance?

In short, anyone could use it. Many of us are caught off guard when we realize the variety of expenses that come with a hospital stay that aren't covered by insurance—from co-pays and deductibles to groceries and childcare. We may also underestimate how expensive it is (the average cost of a three-day hospital stay is around $30,000).

These costs can add up quickly and may negatively impact a tight household budget. Hospital indemnity insurance can help cover these unforeseen costs and provide you with financial relief.

2. How does hospital indemnity insurance differ from regular medical insurance?

While medical insurance may cover some of your hospital costs, you may still have bills to pay. Hospital indemnity insurance provides you with a lump sum of money that you can use on anything you choose, which could include covering costs that your existing coverages don't take care of. You can even use it to pay household bills that might have piled up during your hospital stay.

The hospital indemnity insurance benefit is paid directly to you, so you have the flexibility to spend it on anything you choose.

3. What does hospital indemnity insurance cover—and how do I pay for it?

Hospital indemnity insurance can be used to pay for anything. Once you receive the money, you're free to use it how you wish—for medical tests, out-of-network specialists, credit card bills, childcare, your mortgage or rent—it's your call.

Plus, your employer deducts the premiums from your paycheck, taking one less bill payment off your mental to-do list.

4. Is it for inpatient and outpatient care?

Yes, hospital indemnity insurance covers a variety of situations. For example, you may be able to use it for any accident or illness2 that sends you to the hospital, including general hospital stays, surgery, emergency room visits, and intensive care unit stays. And many plans can also be used for outpatient surgeries. For complete information, please consult your particular policy or contact MetLife.3

5. How much does hospital indemnity insurance cost?

Prices can vary depending on a variety of factors, such as your age, whether you’re adding family members, and the amount of coverage you're getting. Still, plans tend to be more affordable than you may think. Talk to your employer for more information about costs.

6. How much money would I save if I enroll?

Research from the Kaiser Family Foundation shows that nearly one quarter of U.S. adults or a member of their household struggled with a medical bill over the past year. While it's hard to predict your exact savings, considering the high cost of hospital treatment, enrolling in hospital indemnity insurance could save you money.

7. Can I use it for a family member?

Yes! Any family members you include on the policy are covered as well, under the same terms.4

8. What if I have a medical condition?

With MetLife's plan, acceptance is guaranteed, as long as you sign up during the enrollment period and remain active at work.5 Some states might also require that you have medical coverage, so be sure to talk to your employer about any other exclusions that may apply to you or your family.

9. How do I receive the money from my benefits?

You’ll be pleasantly surprised at how easy it is to file the paperwork: With MetLife's plan, you’ll just need to fill out one claim form per incident, which is typically processed within 10 business days. Then, a check is sent directly to you. That's it—because filing a claim should be painless.

Are you preparing for open enrollment? Think about signing up for hospital indemnity insurance. And take our quiz to see what other products might help you save money.

Explore hospital indemnity insurance during open enrollment

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Please review the Disclosure Statement or Outline of Coverage/Disclosure Document for specific information about cancer benefits. Not all types of cancer are covered. Some cancers are covered at less than the Initial Benefit Amount. For NH-sitused cases and NH residents, there is an initial benefit of $100 for All Other Cancer.

Coverage 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.

Eligibility for portability through the Continuation of Insurance with Premium Payment provision may be subject to certain eligibility requirements and limitations. For more information, contact your MetLife representative.

METLIFE CRITICAL ILLNESS INSURANCE (CII) IS A LIMITED BENEFIT GROUP INSURANCE POLICY.  Like most group accident and health insurance policies, MetLife’s CII policies contain certain exclusions, limitations and terms for keeping them in force. Product features and availability may vary by state.  In most plans, there is a pre-existing condition exclusion. After a covered condition occurs, there is a benefit suspension period during which most plans do not pay recurrence benefits, except in the case of insureds covered under a New York certificate. MetLife offers CII on both an Attained Age and an Issue Age basis.  Attained Age rates are based on 5-year age bands and will increase when a Covered Person reaches a new age band.  MetLife’s Issue Age CII is guaranteed renewable and may be subject to benefit reductions that begin at age 65. Premium rates for MetLife’s Issue Age CII are based on age at the time of the initial coverage effective date and will not increase due to age; premium rates for increases in coverage, including the addition of dependents’ coverage, if applicable, will be based on the covered person’s age at the time of the initial coverage effective date. Rates are subject to change for MetLife’s Issue Age CII on a class-wide basis.  A more detailed description of the benefits, limitations, and exclusions applicable to both Attained Age and Issue Age CII can be found in the applicable Disclosure Statement or Outline of Coverage/Disclosure Document available at time of enrollment. For complete details of coverage and availability, please refer to the group policy form GPNP07-CI, GPNP09-CI or GPNP14-CI, or contact MetLife for more information.  Benefits are underwritten by Metropolitan Life Insurance Company, New York, New York.

MetLife's Critical Illness Insurance is not intended to be a substitute for Medical Coverage providing benefits for medical treatment, including hospital, surgical and medical expenses.  MetLife's Critical Illness Insurance does not provide reimbursement for such expenses.

Nothing in these materials is intended to be advice for a particular situation or individual. These materials are for general information purposes only.