National insurance distribution company expresses the importance of fixed cash benefits from hospital indemnity plans to help seniors manage out-of-pocket costs and focus on recovery
CLEARWATER, FLORIDA / ACCESS Newswire / February 12, 2025 / According to the Centers for Disease Control and Prevention (CDC), every 40 seconds, someone in the U.S. has a heart attack, and the cost of a hospital stay can exceed $20,000. Many assume their health insurance will cover everything, but out-of-pocket expenses can be staggering. AmeriLife Group, LLC ("AmeriLife"),?a national organization that develops, markets, and distributes?life and health insurance, annuities, and retirement planning solutions, is highlighting the critical role of Hospital Indemnity Plans (HIPs) in ensuring comprehensive healthcare coverage, especially during February's Heart Health Awareness Month.
The CDC also reports that cardiovascular disease remains the leading cause of hospitalization in the U.S., with approximately 805,000 people hospitalized each year with an average stay of five days. For many, this means thousands of dollars in unexpected costs. Hospital indemnity insurance isn't just an add-on; it's a financial lifeline that protects families from medical debt.
This financial risk is particularly concerning for seniors, who are more susceptible to heart-related issues and may be unprepared to absorb a substantial financial burden from a hospital stay and associated medical treatment. The number one cause of personal bankruptcy among Americans is medical bills, with heart-related hospitalization being the costliest.
"Heart Health Awareness Month reminds us that while education and prevention are key, financial preparation is just as critical," said Steve Patton, senior vice president of Simplified Issue Solutions for AmeriLife's Health Distribution group. "Nearly 60% of Americans don't have the savings to cover a $1,000 emergency, much less a hospital stay for a heart-related event."
This is where a Hospital Indemnity Plan (HIP) can provide essential financial support. Here is a snapshot of HIP's role as a safety net under Medicare Advantage's new 2025 structure:
Hospital Stays: Higher co-pays and deductibles can become financially overwhelming, especially during extended stays.
Outpatient Surgery and Skilled Nursing: These services, often partially covered by MA plans, are prime areas where indemnity plans can cover gaps.
Emergency and Ambulance Services: Quick access to emergency services without facing major financial hurdles is crucial for seniors' health and peace of mind.
"HIP can be a significant financial cushion for seniors, as it helps them focus on their recovery without the added stress of unexpected medical bills," said Jamie Sarno, vice president of Medicare Supplement & Health Specialty Products for AmeriLife. "Whether it's covering the cost of medications, transportation to follow-up appointments, or even everyday living expenses, the fixed cash benefits from a HIP ensure that individuals have the financial support they need during their time of need."
Hospital Indemnity Plans are designed to complement Medicare Advantage plans by offering low-cost, fixed-cash benefits that are paid directly to the policyholder and can help cover various expenses, including deductibles, copayments, and other out-of-pocket costs that their primary health insurance may not fully cover.
"Comprehensive healthcare insurance coverage is crucial, especially for seniors at higher risk for heart-related issues," added Sarno. "A HIP can be a vital component of a well-rounded insurance portfolio, providing financial security and peace of mind when needed most."
AmeriLife encourages all seniors to review their Medicare Advantage healthcare coverage with a licensed health insurance agent and consider the benefits of a Hospital Indemnity Plan.
About AmeriLife
AmeriLife's strength is its mission: to provide insurance and retirement solutions to help people live longer, healthier lives. In doing so, AmeriLife has become recognized as a leader in developing, marketing, and distributing life and health insurance, annuities, and retirement planning solutions to enhance the lives of pre-retirees and retirees across the United States. For over 50 years, AmeriLife has partnered with top insurance carriers to provide value and quality to customers through a distribution network of over 300,000 insurance agents, financial professionals, and over 160 marketing organizations and insurance agency locations nationwide. For more information, visit AmeriLife.com and follow AmeriLife on Facebook and LinkedIn.
Contact Information
Jeff Maldonado
SVP, Brand Marketing
media@amerilife.com
Maria Penaloza
mariap@accessnewswire.com
SOURCE: AmeriLife
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