Hospital Indemnity Insurance definition and meaning
Hospital Indemnity insurance is supplemental medical insurance that pays benefits if you require hospitalization. It pays out a cash benefit that helps cover hospital bills that wouldn’t otherwise be covered by standard health insurance.
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Instead of paying out to the hospital, hospital insurance plans pay directly to the policy holder, allowing them to use the funds in any way they see fit, even if it isn’t directly related to a hospital stay. Some hospital indemnity insurance policies can also include benefits such as emergency room visits and certain outpatient procedures.
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