During hospital visits, Original Medicare recipients will need to continue to pay premiums and deductibles, and MA plan recipients will be responsible for co-pays. Medico® Hospital Indemnity Insurance helps cover out-of-pocket expenses and benefits are paid directly to the insured.
Medico Hospital Indemnity Insurance is a cost-effective way to address potential out-of-pocket expense while in the hospital, and has three plan options.
Pays for each day of confinement in a hospital. You choose the number of days (6 through 10 days) and the amount per day from $250 through $600 in $25 increments. Included is a $1,000 accidental death & dismemberment benefit.
- Observation Benefit: Pays 50% of confinement amount per day for a maximum three days per calendar year while receiving services in an observation unit of a hospital as a result of a covered loss due to sickness or injury.
- Mental Health Benefit: Pays $175 for each day confined in a hospital due to a covered mental or nervous disorder for a maximum of seven days per calendar year.
- Emergency Room Benefit: Pays $150 per day for a maximum of 3 days per calendar year for an injury, if admitted to a hospital within 24 hours.
- Pays a lump sum benefit per confinement in a hospital. You choose the amount per confinement of $1,500, $2,000 or $2,500 and are covered up to three confinements per year. Included is a $1,000 accidental death & dismemberment benefit.
- Pays a lump sum benefit of $5,000 on day one, for one confinement per calendar year. Included is a $1,000 accidental death & dismemberment benefit.
Read Medico's flyer with full hospital indemnity plan information.