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Jeremy Specht from Elkin Insurance is helping people understand the Hospital indemnity insurance world and navigating all of their insurnce needs


Hospital Indemnity Insurance Explained

Hospital indemnity insurance is a supplemental insurance plan designed to pay for the costs of a hospital admission that may not be covered by other insurance like ACA or Medicare Advantage Plans.  This plan covers those who are admitted to a hospital or ICU for a covered sickness or injury and is paid directly to the policy holder to use as they choose.

A financial safety net

Hospital indemnity insurance can be particularly helpful since a majority of Americans don’t have enough savings to cover unplanned medical bills. The plan pays cash directly to the patient even if they don’t incur any out-of-pocket expenses.


This payments can be used for any purpose, including:

  • Medical copays

  • Deductibles

  • Regular expenses, such as food, rent, and utilities

Here’s an illustration of how a Hospital Indemnity Insurance works

Carol goes to the ER for severe abdominal pain and nausea. She has a CT scan that reveals she has gallstones. She is admitted and has emergency surgery to remove her gallbladder. She stays for one night and is released the next day. 

While Carol has medical insurance, she still needs to pay $2,815 of out-of-pocket expenses due to her deductible ($2,500), coinsurance, and other expenses not covered by her plan. Since she has a Hospital Indemnity insurance, she is paid $2,500* her out-of-pocket cost is reduced by 88% to $315.* She could also choose to use that payment for other bills or however she see fit, as it is paid to her and not to the hospital.

Please watch the short video below for more information.

*Based upon the plan amount chosen at the time of purchase

To learn more about this and other Health related topics, talk with a professional in your community. Make an appointment to speak with one of our professionals and see for yourself the Elkin Insurance difference. At Elkin Insurance "We Care About You".

Call: 336-366-0960

Text: 336-366-0960


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