Hospital Indemnity plans are insurance policies that pay you a daily benefit if you are confined to a hospital. Many also have the option to add on an ambulance benefit rider. These plans are a great pair with Medicare Advantage plans. 

 

For example, let’s say you are enrolled in a Medicare Advantage plan that has an inpatient hospital co-pay of $400 for days 1-5. That same plan also has an ambulance co-pay of $250. You can then enroll into a Hospital Indemnity plan that would help cover those co-pays. You can sign up for a plan that pays out $400 for up to 5 days, and also add on an ambulance rider worth $250. 

 

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