Hospital Indemnity Insurance Overview

Hospital indemnity insurance Hospital indemnity insurance can cover some of the cost associated with a hospital stay, letting you focus on recovery. Being hospitalized for illness or injury can happen to anyone, at any time. While medical insurance may cover hospital bills, it may not cover all the costs associated with a hospital stay. That’s where hospital indemnity coverage can help. Who is it for? Hospitalindemnityinsuranceisforpeoplewhoneedhelpcoveringthecosts associatedwithahospitalstayiftheysuddenlybecomesickorinjured. What does it cover? If you are admitted to a hospital for a covered sickness or injury, you’ll receive payments that can be used to cover all sorts of costs, including: • Deductibles and co-pays. • Travel to and from the hospital for treatment. • Childcare service assistance while recovering. Why should I consider it? Health coverage is becoming more expensive, with higher co-pays, premiums, and deductibles. Hospital indemnity insurance can help pay for out-of-pocket costs associated with being hospitalized, giving you more of a financial safety net for unplanned expenses brought on by a hospital stay. Plus, hospital indemnity insurance is portable and payments are made directly to you – even if you didn’t incur any out-of-pocket expenses. Watch our video How hospital indemnity insurance can give you a comfortable stay. You willreceive these benefits ifyou meetthe conditions listedin the policy. Be prepared John is hospitalizedafteraheart attack, andhas tocoverthe costof five days as an inpatient. Average heart attack hospitalization expense: $53,000 Average Major Medical deductible: $1,500 MajorMedicalcovers 80%ofthe cost after the deductibleis met, butJohn’s stillresponsiblefor 20%: $10,300. Totalout-of-pocketamountforJohn (deductible + coinsurance): $11,800. John’s Guardian Hospital Indemnity policy pays him $1,000 for hospital admission. The policy gives him a total payment of $1,000 to help cover the out-of- pocket amount. This example is for illustrative purposes only. Your plan’s coverage mayvary. See yourplan’s information on the following pages for specific amounts and details. GUARDIAN® is a registered trademark of The Guardian Life Insurance Company of America AesopIntermediateLLC Kit created 12/05/2022 ALL ELIGIBLE EMPLOYEES Groupnumber:00554984 2020-105936 (07/22) 33