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How Fixed Indemnity Works Locally in Pocatello
A fixed indemnity plan (sometimes called hospital indemnity or fixed-dollar indemnity) is a supplemental coverage policy. Instead of paying medical providers for costs incurred, a fixed indemnity plan pays you a predetermined amount of money whenever certain events occur — like a hospital stay, surgery, or doctor visit. The payment is fixed (for example, $50 per day of hospitalization, or $100 per surgery), regardless of what the provider charges.
Local Product Examples in Pocatello
This product pays a fixed daily benefit for hospital stays for up to 31 days per period of confinement. It also includes ICU benefits, some observation room benefits, and optionally covers emergency room and ambulance trips via an additional rider. Benefits are paid directly to you, which means you can use the money however needed. The policy is renewable for life if premiums are paid.
Local agents in Pocatello like those at Farmers Insurance (e.g. Timothy Fernandez) may also offer or be able to source hospital indemnity or fixed indemnity policies.
Insurance agencies with broader product lines (e.g. Idaho Health Plans) list “Fixed Indemnity Plans” among their offerings alongside short-term plans, ACA or Marketplace plans, etc. So fixed indemnity is part of the local landscape.
How Fixed Indemnity Works Locally in Pocatello
The daily benefit amount is fixed; for example, if you agree on $100/day for in-hospital days, that’s what you get per day, even if hospital charge is $500 or $2000.
The coverage period is limited (often up to 31 days per confinement, per rules). If your hospital stay is longer, you might run out of benefits.
There are optional additions (riders) for emergency services, ambulance, ICU, etc. But these cost extra.
Portability: many indemnity policies allow you to keep coverage even if you change jobs, retire, or move. That’s useful.