Have you considered hospital indemnity coverage but don’t know exactly how it works? We have your guide to this supplemental benefit and how it is beneficial for your employees and your company. We want companies to have a clear understanding of their options for employee benefits, so we want to guide you through all your supplemental options, so you provide your employees with the right coverage.
What Is Hospital Indemnity?
Before considering this as an employee benefit, you have to understand what exactly hospital indemnity coverage is. Hospital indemnity is coverage for unexpected health care expenses an employee’s medical insurance may not cover. An indemnity benefit associated with the coverage pays for each hospital confinement an employee owes. This gives employees something less to stress over while in recovery.
How does Hospital Indemnity Coverage Work for Employees?
Accidents are unpredictable, and a hospital indemnity insurance coverage comes in to take care of the unpredictable costs of a hospital stay. Help your employees recover without any worries by providing them with the support they need while away from work.
Extension to family
Hospital indemnity coverage is flexible when it comes to who it covers. It provides coverage for the employee first, but there are options to extend coverage to the family. This is beneficial for those getting ready to add members to their family.
Some hospital indemnity covers hospital expenses due to childbirth or injuries to the members of the employee’s family. This keeps more money in your employee’s pockets and fewer payments they need to worry about in the future.
Coverage for hospital stays
The average cost of a hospital stay is $1,923 a day—which would make anyone jump out of a hospital bed, so they aren’t charged for another day. This leads to employees wanting to come back to work not fully recovered from their injuries or illnesses. Hospital indemnity helps your employee stay covered for however long they stay in the hospital, so they are fully recovered.
Keep Your Employees Covered Even When They Aren’t at Work
Work-related injuries or unforeseen illnesses stresses any employee due to their fear of their employment being on the line. Providing your employees with the right supplemental benefits helps them be worry-free while in recovery. Choose the right coverage for your employees so they are covered for the unforeseen future.
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