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What is hospital indemnity insurance?

With hospital indemnity coverage, employees can focus on recovery—and worry less about the cost of hospitalization or treatment.

Hospital indemnity insurance pays a lump-sum cash benefit when a covered employee or family member requires hospitalization or treatment related to a sickness or injury. The benefit can be used any way they choose—regardless of other insurance they have, or actual expenses incurred.

Insurance companies such as Principal® are now offering these plans with key features such as the following:

  • Flexible design with 30+ options for covered benefits, like daily hospital confinement, inpatient surgery, and therapy.
  • Proof of good health is never required.
  • Choice of Health Savings Account (HSA) or non-HSA plan designs.
  • Employees can buy coverage for their spouse and/or kids.
  • Optional health screening benefit and portability.
  • Employer-paid coverage available with as few as 2 lives, and voluntary with as few as 5 lives. Hospital indemnity must be sold with another coverage, and some provisions may vary or not be available in some states.


For more information feel free to contact our team.