Many people wonder what hospital indemnity insurance is and if they need it.
Oh, John, you say. Stop right there. I have health insurance. I’m covered.
Many people think they are. However, did you know your health insurance likely does not cover everything? Here’s what I mean.
Let’s say you are in the hospital for a few days because of an accident. The pre-insurance bill is $50,000. After it is all said and done, you owe $7,500 which includes your $6,000 deductible you will need to pay and $1,500 of coinsurance.
Do you have the money to pay for that? How would you pay for these unexpected medical expenses? A hospital indemnity insurance policy is an option.
Having a baby is expensive. You can look no further than the back page of the summary of benefits of your major medical policy. There, you’ll see an estimated cost of your pregnancy. Most pregnancies command out-of-pocket expenses into the thousands – after your major medical insurance paid its share. This excludes any high-risk testing, a cesarean birth, or a high-risk pregnancy. While the potential costs seem overwhelming, supplemental pregnancy insurance helps pay for these out-of-pocket expenses. A supplemental health insurance policy (like supplemental pregnancy insurance) pays for these costs “gaps” that your underlying health insurance doesn’t pay.
One can’t underestimate the importance of health insurance here in the United States. If you and your family have a social security number, you can usually obtain a policy that complies with the Affordable Care Act. Some people here in the United States, including children, don’t have a social security number. We know your children are very important. You want the best for them. You can still purchase health insurance for them, even if they do not have a social security number. In this article, we discuss health insurance for children without a social security number.
You know the saying. You must be living under a rock if you haven’t heard about the proposed American Health Care Act (AHCA, also known as “TrumpCare”). Maybe you have heard from one of your friends that he or she will no longer be able to obtain affordable health insurance due to a pre-existing condition. Or, that premiums will rise significantly. Or, that penalties will increase. The proposed bill has certainly garnered much attention, some truthful and some not. In this article, we will give an AHCA summary and discuss the truths and myths of the Act. We hope that after reading this article, you feel empowered and informed.