During the 2020 Annual Enrollment Period, many seniors signed up for a Medicare Advantage Plan, taking advantage of the additional coverage and services these plans offer. However, no Medicare plan is perfect, and small gaps in coverage can mean big problems for your wallet later on.
Even if Medicare pays 80% for an ambulance ride or an emergency room stay, the out-of-pocket expenses on your part could potentially be thousands of dollars.
To remedy this, a great addition to a Medicare Advantage Plan is called a “Hospital Indemnity Plan” (HIP). These plans pay cash, directly to you, to help you cover the copays associated with your Medicare Plan. For a simple monthly premium, you could have thousands of dollars at your disposal to pay for what you wish.
When setting up your plan, you get to decide how many days of coverage you want, as well as the cash benefit amount per day. For example you can choose 5 days of coverage and $400 per day. You can also add additional riders such as ambulance services, cancer expenses, emergency room visits, and much more.
With a Hospital Indemnity Plan, you get to decide how much you pay, as well as how much you get paid.
Talk with a Senior Benefit Services agent about which Hospital Indemnity Plan is right for you, and create a financial safety net to protect you and your family. 1-800-627-2768
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