Hospital Indemnity Insurance

Here's what you need to know

What it does for you
Why it's important
When you can enroll
Forms & resources

Hospital Indemnity Insurance provides you with a cash benefit you can use to help pay expenses when you have a covered hospital stay.

If you’ve ever been hospitalized, then you already know that your major medical insurance may not pay all of your medical expenses. Whatever remains is what you’ll be expected to pay on your own. Deductibles, copays, out-of-network charges, and other uncovered expenses can add up to big bills, even for a short hospital stay.

That’s where Hospital Indemnity Insurance comes in handy. You can use the cash benefit you receive from this policy to help you cover not just bills related to your medical care, but any other expenses as well.

Pays a benefit for you to use however you want
The payment is made directly to you
It can help pay out-of-pocket expenses related to medical care associated with covered accidents
In addition to medical care, you may use it to pay for things like childcare, lodging, or over-the-counter medication

You can collect this benefit in addition to other coverage you have, including your employer’s major medical plan, any other type of medical coverage, disability insurance, or other benefits you may be eligible to collect. However, it is NOT health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.

A hospital stay can be costly to your finances in 2 ways:

Medical bills. After being admitted, you have expenses for each day you’re in the hospital – and even a short stay can end up being costly. In addition to the stay itself, treatments, tests, and surgery can add to the cost.
Lost wages. Each day in the hospital could mean taking time out of work, or a family member may take time away from their job to help support you. If this impacts the paycheck that your family relies on, you may need to dig into savings or even borrow money. Hospital Indemnity Insurance helps alleviate these worries.

Since you have the freedom and flexibility to choose how you spend your benefit payment, you can use it to help pay for anything you want. Even use it to help pay regular living expenses such as grocery bills, mortgage payments, childcare, and transportation – all of which could become a concern if you lose income while you’re in the hospital.

Instead of turning to your savings or taking on credit card debt to pay those medical bills, you can use the cash you receive from this policy to help pay them. That means less time spent worrying about money and more time spent focused on getting well again.

These are the periods when you are eligible to enroll for Hospital Indemnity Insurance:

Within your new hire enrollment period
If you have a qualifying life event (you get married, have a baby, etc.)
During your employer’s annual enrollment

As a new hire, you can enroll within 31 days of your date of hire. All other employees, you may enroll during your annual enrollment period or within 31 days of your Change in Family Status.

Keep in mind: If you enroll during these timeframes, you have what is called "guaranteed issue," which means no medical questions or tests are required to enroll. Pre-existing condition limitations may apply.

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

Hospital Indemnity Insurance Summary

Hospital Indemnity Insurance Flyer

Preparing For Hospital Stay

How To File A Claim

Hospital Indemnity Insurance - Preparing for the Cost of a Hospital

Enrollment Flyer - Hospital Indemnity

Who is the provider?

Standard Insurance Company

For more than 100 years, we have been dedicated to our core purpose: to help people achieve financial well-being and peace of mind. Headquartered in Portland, Oregon, The Standard is a nationally recognized provider of group employee benefits. to learn more about products from The standard, visit us at www.standard.com.

The Standard is a marketing name from StandCorp Financial Group, Inc. and subsidiaries. Insurance products are offered by Standard Insurance Company of Portland, Oregon, in all states except New York. Product features and availability vary by state and are solely the responsibility of Standard Insurance Company.

When is a benefit paid under the plan?

Once your insurance is effective, you’ll receive benefits for a covered hospital visit. These benefits vary by state and may have other limitations and exclusions that may affect what’s payable. This plan provides protection for covered events experienced while off the job only. See your disclosure statement or outline of coverage/disclosure document for full details on your coverage.

Who in my family is eligible for this program?
Members of your family who are considered eligible to enroll for insurance include:
- You – if you are an active employee
- Your legal spouse*
- Your eligible dependent children
You must be enrolled in coverage for members of your family to also enroll.

*Legal spouse age 18 to 99, or age 18 to 64 in California.

How much does coverage cost?

This is group insurance offered at group rates. Click here to view the rate chart.

Do I have to answer health questions or take a medical exam?

No, you don’t. Your Hospital Indemnity Insurance is guaranteed issue, which means no medical questions or tests are required to enroll in this coverage. Pre-existing condition limitations may apply.

What if my employment status changes?

Good news! If you leave or retire from your current employer, you can continue your Hospital Indemnity Insurance without interruption (subject to applicable law and the policy’s terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply.

When would my coverage start?

Coverage begins on the date you become eligible if you apply before that date or the first of the month coinciding with next following the date if you apply within 31 days of becoming eligible.

If you apply during Annual Enrollment, coverage begins at beginning of next plan year.

If there is a Family Status Change, coverage begins on the date of change if you apply on or before the date of the Family Status Change or the date you apply if you apply within 31 days of Family Status Change.

Am I really free to use the payment any way I choose?

Yes, you are! There are no restrictions or requirements about how you can use your hospital cash benefit. You don’t even need to use it on expenses you incur while you’re IN the hospital – you can also use it for expenses after you’re discharged. You’re free to use this money on anything you choose, including out-of-pocket medical expenses and/or non-medical expenses such as regular monthly bills if you’re out of work.

Hospital Indemnity Insurance | The Standard

Hospital Indemnity Insurance

Helps you pay for out-of-pocket expenses that result from a covered hospital stay.

Here's what you need to know

How It Works

You’re admitted to a hospital for a covered accident or sickness.

You’re admitted to a hospital for a covered accident or sickness.

That’s when Hospital Indemnity Insurance comes in.

Frequently Asked Questions

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