If you happen to be admitted to the hospital would you be able to afford the extended stay? This is a question many people face. Unfortunately, sometimes the answer to the question is no. And this can cause a severe financial strain on employees who are struggling with their own health or the feeble health of a loved one. With so many emergency room visits a year, it makes sense that there would be a supplemental benefit available for employees to take advantage of so that they can rest easy knowing that in an emergency situation, they would be covered. Here is what you need to know about how a hospital confinement indemnity insurance plan can help your employees with the costs associated with an extended hospital stay.
What Is A Hospital Confinement Indemnity Insurance Plan?
A hospital confinement indemnity insurance plan helps to offset better the financial burden placed on employees when they or a loved one are admitted to a hospital or critical care facility for an extended period of time. Regardless of whether they have medical insurance, hospital confinement indemnity insurance will cover the costs of a prolonged hospital visit. This form of supplemental coverage pays your employees a predetermined benefit amount per day for each hospital confinement. Typically, the insurance company will pay you this amount per day for up to a year. That means that an employee who needs to be in the hospital for more than a few days or weeks is covered for that extended stay.
What Does Hospital Confinement Indemnity Insurance Actually Cover?
The coverage associated with hospital confinement indemnity insurance usually depends on the plan chosen. However, generally, most policies will cover a broad range of things such as hospital confinement (with or without surgery), intensive care unit confinement, and critical care unit confinement. Furthermore, there are more extensive plans that will also cover things like outpatient surgery, continuous care, outpatient x-rays and laboratory procedures, outpatient diagnostic imaging procedures, ambulances, emergency rooms, and physician office visits.
Get Your Supplemental Hospital confinement Indemnity Insurance Policies With The MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. With The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! Also, be sure to like our Facebook page, follow us on Twitter, LinkedIn, and Google+ for all the latest voluntary benefit news!