Medicare and Hospital Indemnity: Do You Need Both?

Medicare Part A has a deductible for each benefit period and daily coinsurance for longer stays. Even with Medicare, a hospital admission can lead to real out-of-pocket costs.

Where indemnity fits

An indemnity plan can pay cash toward those costs, or toward anything else you need. Some plans are designed specifically for adults 65 and over, with simplified applications.

Things to compare

• Daily hospital benefit amount
• Maximum number of days paid per year
• Waiting periods and pre-existing condition rules
• Whether the premium can rise with age

A licensed agent can review your Medicare or Medicare Advantage plan and tell you whether extra cash benefits make sense for your situation.