Hospital Indemnity Insurance?

[Davis]

Humana has a hospital cash plan.

Do you think Humana's hospital cash plan is good and is the application process similar to filling out a major med app.

 

[sgriswold]

I'm surprised that Allstate Worksite wasn't mentioned. I've looked into most of these plans and Allstate's was one of the least "slippery" as far as benefit payouts.

For starters, there's no pre-ex and pregnancy is covered. Slightly cheaper than Colonial for similar benefits as well. However their wellness benefit is reimbursement vs. Colonial's indemnity. They do have an office visit benefit, though.

 

[bill3173]

I'd very much like to know where to get more information on this plan.

You can call them T: 615.377.1300 . They have people dedicated to this product that can assist you with getting appointed and explain to you how it is sold.

It is designed perfectly for Medicaid recipients, which would be the target market for this sort of thing.

 

[Davis]

You can call them T: 615.377.1300 . They have people dedicated to this product that can assist you with getting appointed and explain to you how it is sold.

It is designed perfectly for Medicaid recipients, which would be the target market for this sort of thing.

If they are on Medicaid, can they afford these plans? How do you get a list of people on Medicaid? I have talked with people that wanted to pay $100/month - $150/month for a major med plan.

 

[dgoldenz]

The Humana hospital cash plan will cover pregnancy if the claim is at least 10 months after the effective date, which is basically just a 1-2 month waiting period..... If someone plans on getting pregnant, it seems like it could be a good idea. Haven't sold any of it myself.

 

[bill3173]

If they are on Medicaid, can they afford these plans? How do you get a list of people on Medicaid? I have talked with people that wanted to pay $100/month - $150/month for a major med plan.

These plans are generally $40-$80 month, depending on the level of benefit that you choose. Even people on Medicaid are responsible for a very small portion of their bill, but it's worrisome to them.

I had a lady go into the hospital, on Medicaid, and of a $45K bill, she was responsible for $900. It's funny to some people, but to her it's a serious cost.

If you have an HI plan in place, you will get a lump sum up front, and a certain amount per day of benefit. They can actually end up with more than enough to cover their portion of the bill, and pocket some cash.

There are subtle and not so subtle differences between a "true" HI plan and a fake one. American Continental has a real "old school" plan with the right pre-ex period, UW, and price. It is tailor made for the target market. I'm not that into it, just sell a little bit of everything in the life and health markets. I don't have anything else to do, so why not?

 

[jaredjb]

Humana has a good hospital indemnity insurance plan. So does AFLAC in many states, as well as Conseco, American Heritage Life, and Equitable.

I've sold quite a few. It's a good way to supplement your regular health insurance plan.

Jared B.

 

[HomeService]

I am looking for high daily hospital benefit plans being offered on an individual basis in Ca. and Tx. as well as small group plans offered in Ca. Tx. Az. and Nv.

Thanks
Mark

check with southwest service life - click on "home" below:


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If they are on Medicaid, can they afford these plans? How do you get a list of people on Medicaid? I have talked with people that wanted to pay $100/month - $150/month for a major med plan.

Medicaid people don't need it, and most often, the application for hospital indemnity asks if they are on medicaid, and if they are, they are rejected, quite often. Hospital indemnity is for people trying to cover a big deductible on their major med, or for people who cannot afford major med, but make too much to be on medicaid. I have sold a few of these policies over the years. I thought Obamacare rules might get rid of the plans.

 

[vic120]

Some of these indemnity plans are made to look like real Major Medical they say they pay $3000 per day in the Hospital and cover 3 times what Medicare would pay for a surgery so its good enough to be a primary plan.
When I went to a training it looked like the most they would pay is $3000 a day for the Hospital Room X number of days ( a little more for ICU) ,but the surgery was included in that $3000 a Day, there was no extra money added on to the $3000 a Day x number of days, so this surgical benefit of 3 times what Medicare would pay is meaningless.The real claim example showed the number of days times $3000 plus the number of Days in ICU x $4700(the amount for ICU per day) plus a one time $2000 admittance to the Hospital Benefit added together and that was it.There was no extra amount for the surgery (bypass) added on to that.
This would pay about $38,000 of a $80,000 Hospital Bill. Is this right?

LOL

You know I just spoke to a client I had for near 10 years I have been trying to reach her for at least 5 years to do premium check

I knew early she had cancer and would be 5 year wait but thought she was good 5 years ago

Today I finally reached her she was in tears she thanked me like I have never been thanked

She had 2 outs with cancer a brain bleed several years ago and now just got out of the hospital after 60 days and sepsis

But she was so happy her insurance was there through it all, no preuth messes, no network messes, no copay issues

Hospital bills were in the millions without ins

$3 K a day you really think that is something as a primary ins

Better have your E & O in place even that might not help you

 

[goillini52]

Why?

*ick

Because, that's why.