'Hospital indemnity' or 'hospital income' policies are generally inexpensive plans that pay you a set number of dollars for days that you're in the hospital. Evaluate your current health insurance and any medigap policy you own before purchasing a hospital indemnity plan. You shouldn't rely on a hospital indemnity policy for your basic medical coverage because the policy's daily dollar payment amount generally doesn't rise with inflation. You might not be paid for shorter hospital visits because these payment plans usually have a waiting period of seven to ten days. Consult an insurance agent in your area for more information about hospital indemnity policies.
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