Health Benefit Indemnity insurance (HBI) is a health insurance plan that offers financial protection for commonly needed medical services, including hospital and doctor benefits. When you experience a covered medical event, HBI pays a set fee, directly to you or a provider designated by you. HBI is designed to be used in connection with your major medical insurance and HBI also can include supplemental medical insurance coverage for critical illnesses or accidents, as well as supplemental non-insurance services such as telemedicine, insurance advocacy, and pharmacy. HBI offers "first dollar coverage", which provides you more flexibility for managing expensed related to health care expenses, such as the copays required by your major medical insurance for your hospital visit, or even lost wages for the time you were hospitalized.
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Can Health Benefit Indemnity Insurance Add Protection for Your Family?
HBI insurance plans can protect your family with hospital and doctor insurance benefits. Some plans may include supplemental medical insurance to provide added protection from critical illnesses or accidents. Others may include services such as telemedicine to provide 24/7 provider access to you and your family.
How Are Health Benefit Indemnity Insurance Plans Different Than a Traditional Health Insurance Plan?
First Dollar Coverage
With HBI insurance when you experience a covered medical event requiring doctor or hospital services, the insurance company makes a fixed cash payment to you or a designated provider. You decide how to spend or save the benefit. With major medical health insurance, the insurance company pays a percentage of your medical bills directly to the provider after you cover your deductible. Major medical has higher dollar protection but often requires you to pay thousands of dollars out of pocket before the plan pays anything. In 2017, the average deductible for an Obamacare Bronze Level plan is over $6,000.*
Additional Coverage and Services
HBI insurance plans can include supplemental medical insurance for accident or critical illnesses and non insurance services such as telemedicine or pharmacy discount plans to help you to better control your health spending.
Health Benefit Indemnity Insurance May be the Right Choice if:
- You are looking for the flexibility of direct-to-you benefit payments.
- You want to add an extra layer of insurance that supplements your major medical plan.
Join the smart shoppers who have decided to get a HBI insurance plan and protect yourself from the financial costs of an unexpected doctor or hospital visit.
* HealthPocket research report, “Aging Consumers without Subsidies Hit Hardest by 2017 Obamacare Premium & Deductible Spike.” 10/26/16 (https://www.healthpocket.com/healthcare-research/infostat/2017-obamacare-premiums-deductibles).