Even a quick trip to the hospital¹ can 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.