Healthcare is no longer an option, but a necessity. Without proper coverage, a single health-related event can be financially devastating. Many families are left to face insurmountable medical bills and associated costs. Many families forget fine details when planning for emergencies, such as out-of-pocket expenses left over after coverage has run out.
14 million Medicare Advantage beneficiaries are exposed to gaps in their policy resulting in unforeseen out-of-pocket expenses. These gaps can be costly – the average hospital inpatient benefit gap in Medicare Advantage is $1,500. Nobody wants to pay that cash amount, and many do not plan for those costs.
Currently, only 1% of Medicare Advantage enrollees use a Hospital Indemnity plan to help with those unforeseen costs. It is not commonly understood that some Hospital Indemnity plans go hand-in-hand with Medicare Advantage plans to provide beneficiaries with the best coverage possible. Unexpected Hospital expenses are then covered including: Primary Care Doctor Office Visits, Skilled Nursing Care, Durable Medical Equipment, Lump Sum Cancer Payouts, Ambulance Services and much more.
Hospital Indemnity plans are designed to offer relief from unexpected medical bills due to the above-mentioned medical needs. Nobody should be left to pick up the pieces after a health-related incident. Nobody should fear not having enough to cover their needs. Make sure you have a secure hospital indemnity plan that covers the gaps that Medicare Advantage leaves behind.
To learn more about Health Insurance and different types, including Indemnity Plans, visit The Life and Health Insurance Foundation for Education (LIFE) – a nonprofit organization dedicated to helping Americans take responsibility for their finances through the ownership of life insurance and related products.
To learn more about Sentinel Security Life Insurance Company’s Hospital Indemnity product, please visit our website at www.sslco.com or call 1.888.510.0668.
Blog written by: Thy Vu Mims, Marketing Communications Manager for Sentinel Security Life Insurance Co.