HOSPITAL INDEMNITY INSURANCE
There are the hospitalizations that are expected—and those that aren’t.
Either way, even with core medical coverage, expenses and financial stresses can add up quickly.
Wellfleet Workplace’s Hospital Indemnity Insurance pays you benefits for hospitalizations associated with covered accidents or sicknesses.
From hospital admission to daily confinement, specialty care and related benefits and riders, our product provides employees and their families with financial support to help offset out-of-pocket costs associated with a hospitalization from a covered accident or sickness.
Whether planned or not, the focus of a hospitalization should be on care and healing versus worries over how to cover mounting medical costs. Hospital Indemnity Insurance from Wellfleet Workplace provides an added layer of financial protection by paying a total benefit for covered hospitalizations and related benefits, such as for daily confinement in the ICU or the birth of a child.
Some may wonder about what the difference is between health insurance and Hospital Indemnity Insurance, and why they might need it.
Health insurance covers certain medical expenses and pays your provider directly but may leave you responsible for some out-of-pocket costs. The amount paid depends on your coverage, the type of care and whether you’ve hit your out-of-pocket maximum.
Hospital Indemnity Insurance is supplemental coverage that complements your health insurance and can help cover your out-of-pocket expenses. The benefit amount you receive is based on the type of hospitalization, is paid directly to you and can be used however you like.
Average total cost of treatment for pneumonia with major complications & comorbidities*
*Claxton, Gary; Cox, Cynthia; Kurani, Nisha; McDermott, Daniel; and Rae, Matthew. (March 13, 2020.) “Potential costs of COVID-19 treatment for people with employer coverage”, Peterson – KFF Health System Tracker.
The average a new mother with insurance will pay for labor and delivery.1
1 Admon, Lindsay; Dalton, Vanessa; A., Fendrick; Kolenic, Giselle; Moniz, Michelle; and Tilea, Anca. (January 2020). “Out-of-Pocket Spending for Maternity Care among Women with Employer-Based Insurance 2008 – 2015”.
Coverage through Wellfleet Workplace is flexible, affordable and easy to use. Whether you’re an employee exploring coverage available through your workplace, an employer in search of ways to enhance your current benefits offerings, or an advisor interested in selling innovative and high-quality workplace benefits solutions, we want to hear from you.
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Wellfleet is the marketing name used to refer to the insurance and administrative operations of Wellfleet Insurance Company, Wellfleet New York Insurance Company, and Wellfleet Group, LLC. All insurance products are administered or managed by Wellfleet Group, LLC. Product availability is based upon business and/or regulatory approval and may differ among companies.