How Much Does a Night in the Hospital Cost?

Nobody expects a medical emergency or a diagnosis of a serious disease, but the fact remains that over 18 million people end up in America’s hospitals every year. Many of these patients are caught in a difficult place: having to decide between their personal health and financial well-being. Medical care can be costly. Over 60% of all bankruptcies are due to medical expenses.

A typical in-patient stay in a hospital is about 5 days, and that may cost you over $10,000.This figure does not include major procedures, ambulance fees, or other charges. It’s easy to see how a short stay in the hospital may leave your family in a difficult financial situation.
Medical insurance, hospital indemnity insurance, and hospital insurance are just a few policies you should consider when ensuring that your family maintains financial stability during difficult times. Knowing the difference between these policies, along with when to use them, could be crucial during times of medical need.

Medical Insurance

Medical insurance policies typically cover portions of procedures and medical expenses, including prescriptions. These policies typically include a deductible and co-pay. Also, most medical insurance policies include a “preferred provider” or “in-network” list of doctors. If you visit a medical practitioner or facility outside of those considered preferred or in-network, the out-of-pocket amounts are substantially higher.

Hospital Indemnity Insurance

Hospital indemnity insurance can help families with their daily expenses while a family member is in the hospital. These plans give families a cash benefit during the hospital stay. These funds can be used to pay for groceries, bills, childcare, or even a mortgage.

Hospital Insurance

Hospital indemnity insurance serves a singular purpose: to help families financially cover gaps where regular medical insurance lacks. Hospital insurance can cover charges related to extended hospital stays, home health care, or even co-pays.

It’s important to ensure that your family is covered for every situation. Protecting the ones you love before a medical emergency occurs may be one of the wisest decisions you can make.