Hospital Ca$hBack PlanSM
Most health plans will not pay benefits until a deductible is met. Our Hospital Ca$hBack PlanSM product will:
- reimburse for hospital-related claims
- pay benefits regardless of other insurance or HSA (Health Savings Account) funds
- offer a benefit range of $100 to $500 per day
For purpose of example, let's consider an employee with a $2,500 health insurance plan deductible. Here's how the product works:
- The employee experiences a 5-day hospital stay totaling $25,000 in expenses
- There are little or no funds available in an HSA
- The Supplemental Hospital product pays pays up to $500 per day
- The health insurance plan covers 100% of the expenses after the deductible is reached; employee is responsible for expenses incurred until deductible is met
- The Supplemental Hospital product pays $2500 (sum of $500 x 5 days) which could be used to reimburse deductible or other out-of-pocket expenses
If funds are available in a HSA when a hospital stay occurs, the employee can either use their HSA funds, their Hospital Ca$hBack Plan or both.
