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Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
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Hospital Indemnity Insurance pays a benefit each day you are in a hospital.

If you have other health insurance, some policies will pay the benefit regardless of other insurance you have. Other policies will coordinate benefits so when all benefits are added together, you do not receive more than 100% of the cost of the hospital bill. Other features of a Hospital Indemnity Policy are described in the next section.

Benefits are usually $100 to $200 dollars per day, and are not subject to income tax.

Premiums for a Hospital Indemnity Insurance Policy are not tax deductible.

You can purchase Hospital Indemnity Insurance in spite of your health history. Expect that these policies will have a waiting period which generally range from 6 to 12 months during which you're not eligible for benefits.

Consider purchasing this insurance if  you may need hospitalization in the future. Unfortunately, as noted, if you know you're going to go in the hospital next month, you can't go buy a policy tomorrow and expect to be covered. Even if you don't anticipate a hospitaliztion, if you don't have disability income insurance, consider buying Hospital Indemnity Insurance because it can at least partially replace lost income if you become ill enough to be hospitalized. Hospital Indemnity policies generally cost only a few hundred dollars a year.

For more information, see:

NOTE:  If you check into a hospital overnight to receive a chemo treatment, for purposes of a Hospital Indemnity policy that is two days in the hospital (the day you check in and the day you leave).

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How To Obtain Hospital Indemnity Insurance

To obtain hospital indemnity insurance:

  • Ask your insurance broker.
  • Look for special offers through your credit card companies.
  • Search on line through your favorite search engine.

You can also try the following sources:

Features To Look For In A Hospital Indemnity Insurance Policy

Features to note in a Hospital Indemnity Insurance policy you are considering purchasing:

  • Amount of daily payment. (Some policies provide for increase in coverage for a stay in a hospital Intensive Care Unit).
  • Whether the amount of the payment is unconditional, or conditioned on other insurance you have.
  • How long the benefit is payable.
  • Who receives the money. Some policies pay you. Others pay the hospital.
  • A pre-existing condition exclusion provides that a stay in a hospital is not covered if the stay is due to a condition which was treated within a period of time prior to admission to the hospital. For example, a policy may provide that no payments will be made if hospitalization is for a condition which was treated within the 12 months which precede the date of admission to the hospital. Hospitalization for other reasons are covered.
  • When payment starts. Some policies start payment on the first day of hospitalization.
  • Whether additional family members are also covered.

Always check the financial reliability of an insurance company. You can do this through rating services such as AM Best ( offsite link) and The Street ( offsite link).