Are Your Clients' MA Gaps Being Filled With Hospital Indemnity Protection?

  • Originally published February 17, 2015 , last updated January 11, 2016
  • Medico
Are Your Clients' MA Gaps Being Filled With Hospital Indemnity Protection?

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. 

Option 1

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.

Option 2

  • 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.

Option 3

  • 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.