Hospital Indemnity Insurance
Why choose Zurich for Hospital indemnity insurance
The strength of Zurich’s Hospital Indemnity Insurance goes far beyond policy details. We offer a dedicated support team for coordination of plan development, marketing, administration onboarding, and program management. We provide you with a single point of contact, as well as administration that details processes, forms, and group/individual contact information. We’ll work with you to help simplify the administration of your program and we’re always ready to answer questions to help address your needs and those of your members or employees.
At Zurich, our customers’ needs remain at the heart of everything we do.
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Hospital Indemnity Video
Hospital indemnity insurance
Even with good health insurance, out-of-pocket medical expenses, loss of income and recovery costs can turn a hospital stay into a very expensive occurrence. Supplemental health benefits, such as Zurich’s Hospital Indemnity Insurance, can help manage healthcare expenses by paying a benefit for hospitalization due to a covered accident or sickness. Plans can also include benefits for doctor office visits, emergency room treatments and more.
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FAQs
Hospital Indemnity Insurance is a type of Supplemental Health Insurance designed to complement a primary health plan. While major medical insurance covers the essential costs of treatment, it often leaves individuals responsible for Out-of-Pocket Medical Costs, such as deductibles, co-pays and services not covered by their plan. These unexpected expenses can create financial challenges during a time of recovery.
Hospital Indemnity Insurance provides a structured cash benefit following a hospital stay for a Covered Sickness or Covered Accident, as outlined in the policy terms. This benefit can be used to address deductibles or related incidental expenses, subject to policy terms. By offering this additional layer of financial support, you enhance your overall benefits structure within defined policy parameters.
To understand its practical application, imagine an employee is hospitalized for three days due to a covered illness. Their primary health insurance covers most of the medical expenses, but they are still responsible for a $2,500 deductible. Additionally, their spouse had to take unpaid time off to assist with family needs during this period.
With a Hospital Indemnity plan in place, a pre-determined cash benefit, subject to policy terms, may be paid directly to the employee. This benefit is flexible and can be used as needed—to cover the deductible, or pay for transportation to follow-up appointments. This structured benefit may assist employees in managing unexpected expenses, aligning with your broader workforce benefits structure.
As mentioned above, the benefit for a covered individual can be used however the beneficiary chooses. Zurich’s flexible Hospital Indemnity plan can be tailored to the specific needs of each organization through coverage options and enhancements including family plans, broad limits and additional benefits* for emergency care, intensive care, continuous care and more. Coverage can be layered with other Zurich Supplemental Benefits, including Critical Illness Insurance, Group Personal Accident and Accidental Death and Dismemberment (basic and voluntary AD&D) coverage; Travel Protection, specialty health solutions and more.
* Some optional enhancements may not be compatible with high-deductible health plans involving a tax-advantaged health savings account (HSA).
Offering Hospital Indemnity Insurance introduces an additional financial protection mechanism within your overall benefits framework. This coverage complements a primary benefits package by addressing gaps in major medical insurance, such as deductibles and other out-of-pocket expenses.
Healthcare costs are a major concern for most people, so your organization’s ability to offer additional coverage not included in most general health insurance policies can be a great advantage in attracting and retaining employees, members or customers. For employers, this offering can help bring in top talent and let them know you’re looking out for their interests. For associations and affinity groups, it’s a benefit that will appeal to new and existing members. And financial institutions can use the coverage offering to show customers they have a wider view on how to help them protect their savings.
Incorporating Hospital Indemnity Insurance into your benefits portfolio introduces an additional financial protection mechanism aligned with structured workforce risk management objectives. It complements major medical coverage by addressing defined cost exposures within policy terms.
With flexible plans, customizable group-priced benefit solutions, and a dedicated support team, Zurich is ready to help your organization make this supplemental benefits insurance coverage a valuable part of your benefits package.
