Hospital Indemnity Insurance | Voya

Hospital Indemnity Insurance | Voya
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Hospital Indemnity Insurance

Helps you pay for out-of-pocket expenses that result from a covered hospital stay.
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Here's what you need to know

IMPORTANT: This is a fixed indemnity policy, NOT health insurance

 

This fixed indemnity policy may pay you a limited dollar amount if you’re sick or hospitalized. You’re still responsible for paying the cost of your care.

 

  • The payment you get isn’t based on the size of your medical bill
  • There might be a limit on how much this policy will pay each year.
  • This policy isn’t a substitute for comprehensive health insurance.
  • Since this policy isn’t health insurance, it doesn’t have to include most Federal consumer protections that apply to health insurance.

 

Looking for comprehensive health insurance?

 

  • Visit HealthCare.gov or call 1-800-318-2596 (TTY: 1-855-889-4325) to find health coverage options.
  • To find out if you can get health insurance through your job, or a family member’s job, contact the employer.

 

Questions about this policy?

 

  • For questions or complaints about this policy, contact your State Department of Insurance. Find their number on the National Association of Insurance Commissioners’ website (naic.org) under “Insurance Departments.”
  • If you have this policy through your job, or a family member’s job, contact the employer.

 

Hospital Indemnity Insurance provides you with a cash benefit you can use to help pay expenses when you have a covered hospital stay.*

 

If you’ve ever been hospitalized, then you already know that your major medical insurance may not pay all of your medical expenses. Whatever remains is what you’ll be expected to pay on your own. Deductibles, copays, out-of-network charges, and other uncovered expenses can add up to big bills, even for a short hospital stay. 

 

That’s where Hospital Indemnity Insurance comes in handy. You can use the cash benefit you receive from this policy to help you cover not just bills related to your medical care, but any other expenses as well.

 

  • Pays a benefit directly to you to use however you want
  • It can help pay out-of-pocket expenses related to medical care associated with a covered accident or sickness
  • In addition to medical care, you may use it to pay for things like childcare, lodging, or over-the-counter medication

 

You can collect this benefit in addition to other coverage you have, including your employer’s major medical plan, any other type of medical coverage, disability insurance, or other benefits you may be eligible to collect. However, it is NOT health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.

A hospital stay can be costly to your finances in 2 ways:

 

  • Medical bills. After being admitted, you have expenses for each day you’re in the hospital – and even a short stay can end up being costly. In addition to the stay itself, treatments, tests, and surgery can add to the cost.
  • Lost wages. Each day in the hospital could mean taking time out of work, or a family member may take time away from their job to help support you. If this impacts the paycheck that your family relies on, you may need to dig into savings or even borrow money. Hospital Indemnity Insurance helps alleviate these worries.  

 

Since you have the freedom and flexibility to choose how you spend your benefit payment, you can use it to help pay for anything you want. Even use it to help pay regular living expenses such as grocery bills, mortgage payments, childcare, and transportation – all of which could become a concern if you lose income while you’re in the hospital.

 

Instead of turning to your savings or taking on credit card debt to pay those medical bills, you can use the cash you receive from this policy to help pay them. That means less time spent worrying about money and more time spent focused on getting well again.

These are the periods when you are eligible to enroll for Hospital Indemnity Insurance:

 

  1. Within your new hire enrollment period
  2. If you have a qualifying life event (you get married, have a baby, etc.)
  3. During your employer’s annual enrollment

 

Check with your employer’s human resources/benefits team for specifics about these timeframes.

 

Keep in mind: If you enroll during these timeframes, you have what is called "guaranteed issue," which means no medical questions or tests are required to enroll. Pre-existing condition limitations may apply.

How It Works

Number one Enroll now icon

You enroll in Hospital Indemnity Insurance

Number two Hospital icon

After insurance is in effect, you have a hospital stay due to covered accident or sickness

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Receive a payment

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Use your money however you want

You’re admitted to a hospital for a covered accident or sickness.

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That’s when Hospital Indemnity Insurance comes in.

Because you have Hospital Indemnity Insurance, you get a cash payment you can use for any expenses you want – medical or not.

Frequently Asked Questions

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  • Who is the provider?

    Voya

     

    Voya Financial, Inc. is a leading health, wealth and investment company that helps individuals be well planned, well invested and well protected. Voya has earned recognition as: one of the World’s Most Ethical Companies® by Ethisphere; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index.

     

    Hospital Indemnity Insurance is underwritten by ReliaStar Life Insurance Company (Minneapolis, MN), a member of the Voya® family of companies. Voya Employee Benefits is a division of ReliaStar Life Insurance Company.

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  • When is a benefit paid under the plan?
    Once your insurance is effective, you can begin receiving benefits for a covered hospitalization. These benefits vary by state and may have other limitations and exclusions that may affect what’s payable. This plan provides protection for covered events experienced while off the job only. See your disclosure statement or outline of coverage/disclosure document for full details on your coverage.
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  • Who in my family is eligible for this program?

    Members of your family who are considered eligible to enroll for insurance include:

    • You – if you are an active employee
    • Your legal spouse**
    • Your eligible dependent children

     

    You must be enrolled in coverage for members of your family to also enroll. 

  • How much does coverage cost?

    This is group insurance offered at group rates. Refer to the policy documents for complete details. 
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  • Do I have to answer health questions or take a medical exam?

    No, you don’t. Your Hospital Indemnity Insurance is guaranteed issue, which means no medical questions or tests are required to enroll in this coverage. Pre-existing condition limitations may apply.
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  • What if my employment status changes?

    Good news! If you leave or retire from your current employer, you can continue your Hospital Indemnity Insurance without interruption (subject to applicable law and the policy’s terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply. 
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  • When would my coverage start?

    Coverage is effective on the 1st of the month after coverage is approved by Voya.
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  • Am I really free to use the payment any way I choose?

    Yes, you are! There are no restrictions or requirements about how you can use your hospital cash benefit. You don’t even need to use it on expenses you incur while you’re IN the hospital – you can also use it for expenses after you’re discharged. You’re free to use this money on anything you choose, including out-of-pocket medical expenses and/or non-medical expenses such as regular monthly bills if you’re out of work. 

Are you ready To Enroll?

Act now to put Hospital Indemnity Insurance in place to help offset expenses that may not be covered by other insurance.
Enroll

Do You Need Help?

Our team is ready

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Phone Number: 1-877-236-7564

 

 

 

 

  • Legal Disclaimers

    *The definition of “hospital” does not include an institution or any part of an institution used as: a hospice unit, including any bed designated as a hospice or swing bed; a convalescent home; a rest or nursing facility; a free- standing surgical center; an extended care facility; a skilled nursing facility; or a facility primarily affording custodial, educational care, or care for the aged; or care or treatment for persons suffering from mental diseases or disorders or drug or alcohol addiction. “Critical care unit” and “rehabilitation facility” are also defined in the certificate.

     

    **The use of “spouse” means a person insured as a spouse as described in the certificate of insurance or rider. This may include domestic partners or civil union partners as defined by the group policy. Please contact your employer for more information.

     

    This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern. To keep coverage in force, premiums are payable up to the date of coverage termination. Hospital Confinement Indemnity Insurance is underwritten by ReliaStar Life Insurance Company (Minneapolis, MN), a member of the Voya® family of companies. Policy form RL-HI2-POL-18; Certificate form RL-HI2-CERT-20; Spouse Hospital Confinement Indemnity Rider form RL-HI2-SPR-18; Children’s Hospital Confinement Indemnity Rider form RL-HI2-CHR-18; Continuation of Insurance Rider form RL-HI2-CNT-18; Diagnostic Test Benefit Rider form RL-HI2-DGR-18; Wellness Benefit Rider form RL-HI2-WELL-18; Accident Benefit Rider form RL-HI2-ACD-18; Critical Illness Rider form RL-HI2-CIR-18; and Waiver of Premium Rider form RL-HI2-WOP-18. Form numbers, provisions and availability may vary by state and by your employer’s plan.

     

    190395 – 02152022

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