Medicare is definitely important for a senior to have but it may still leave gaps in coverage that a policyholder is responsible for. Most Medicare Advantage plans don’t start covering hospitalization until the 6^th or 7^th day of an inpatient stay. An average hospital stay can cost over $10,000 dollars which can be devastating for any senior.

Hospital indemnity insurance is a type of insurance that provides coverage for the costs associated with a hospital stay and typically pays directly to the policyholder. It is typically sold as a supplement to a person’s Medicare Advantage plan, which may not cover all of the costs associated with a hospital stay.

If you are considering selling hospital indemnity insurance, it is important to understand the product and be able to explain its benefits to potential customers. Some of the key benefits of hospital indemnity insurance include:

• Coverage for costs that may not be covered by a person’s Medicare: Hospital indemnity insurance can help pay for expenses such as co-payments, deductibles, and other out-of-pocket costs.
• Financial protection: Hospital stays can be expensive, and hospital indemnity insurance can provide financial protection for individuals and families in the event of a hospitalization.
• Flexibility: Hospital indemnity insurance policies are typically flexible and allow policyholders to choose their own doctors and hospitals, rather than being tied to a specific network.
• Hospital indemnity plans help bridge the gaps left open by a Medicare Advantage plan by providing a cash payout directly to the policyholder.

What are the Benefits of a Hospital Indemnity Plan?

1. Hospital Confinement Co-Payment Coverage- Up to 31 Days
2. Ambulance Transportation
3. Emergency Room Coverage
4. Skilled Nursing Facility Benefits

Here at Pinnacle Financial Services, we offer a diverse portfolio of Hospital Indemnity Plans that an agent can customize to best fit the needs of their client. Commissions are paid out in a matter of days, even during AEP. Please reach out to our team to find out more about contracting with and marketing these plans.