Murray State University
Hospital Indemnity Insurance can help you with any expense you’d like, including childcare, groceries, help around the house and more. It pays a daily benefit if you have a covered stay in a hospital*, critical care unit, or rehabilitation facility on or after your coverage effective date. Hospital Indemnity Insurance is a limited benefit policy. This is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act. For a complete description of benefits, exclusions and limitations, refer to your certificate of insurance and riders.
What is Hospital Indemnity Insurance?
Hospital Indemnity Insurance pays a daily benefit if you have a covered stay in a hospital*, critical care unit or rehabilitation facility. The benefit amount is determined based on the type of facility and the number of days you stay. This is a limited benefit policy. Hospital Indemnity Insurance is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.
How can Hospital Indemnity Insurance help?
You can use the benefit however you would like. While coverage amounts may vary, below are a few examples of how you could use your benefit:
Why should I enroll through my employer?
Premium amounts are deducted from your paychecks, so you don’t have to worry about paying another bill.
Can I purchase coverage for my spouse and child?
Coverage is available for your eligible spouse and your eligible children up to age 26* as defined in the certificate of insurance and riders, if employee coverage is elected.
*Standard ages may vary.
How much does it cost?
The cost of Hospital Indemnity Insurance varies. It is very likely that your monthly premium will be less than your monthly lunch budget.
Do I need to provide health information when I apply?
No. There are no medical questions you need to answer or medical tests to take in order to get coverage. Pre-existing condition limitations may apply.
Hospital stays aren’t cheap. And even with medical insurance, there are still a lot of out-of-pocket costs to consider.
Example expenses incurred during two-day hospital stay:
|Health insurance deductible||$1,500|
|Meals and parking||+||$40|
|Total out-of-pocket expenses||$1,740|
|Example Initial Confinement Benefit
(Benefit paid on first day of confinement)
|Example daily benefit paid under policy
(Daily benefit amount x 2 days)
|Total benefits paid||$1,200|
The amounts shown above are for illustrative purposes only. Actual costs/results may vary.
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