Hospital Indemnity Insurance
The original and most comprehensive product on the market. Advantage Plus Elite is designed to help cover out-of-pocket expenses in Medicare Advantage and other major health plans.
What is hospital indemnity insurance?
GTL’s Advantage Plus Elite Hospital Indemnity Insurance is a crucial financial tool that helps cover the extra expenses left by Medicare Advantage and other health plans. These plans often involve out-of-pocket expenses, including copayments, coinsurance, and deductibles. Hospital indemnity insurance steps in to provide financial protection during unexpected hospital visits or medical treatments, ensuring you’re prepared for unforeseen healthcare costs.
How does GTL’s hospital indemnity insurance work?
When you’re hospitalized or going through an eligible medical procedure, GTL’s hospital indemnity insurance pays out a lump sum cash benefit directly to you. This money can be used to cover various expenses, such as medical bills, transportation, lodging, or daily living costs while you’re unable to work. GTL’s hospital indemnity insurance can assist with addressing the deductibles you may need to pay when using Medicare Advantage plans, allowing you to get the healthcare you need without the financial setback.
Why do I need hospital indemnity insurance from GTL?
GTL’s hospital indemnity insurance acts as a financial safety net, especially with the substantial out-of-pocket expenses that Medicare Advantage members often experience, averaging in the hundreds or even thousands of dollars. These costs include copayments, coinsurance, deductibles, and more, making it important to have a financial safeguard in place. With GTL’s Advantage Plus Elite, you can reduce or eliminate these out-of-pocket expenses, so you can focus on your recovery – and not unexpected healthcare costs.
What can this policy help cover for me?
Daily Hospital Confinement
Ambulance Trips
Cancer
Dental/Vision
Short Duration Hospital Stay
Outpatient Surgery
Skilled Nursing Facilities
Critical Accidents
3 Things to Know…
- Easy to apply for and no underwriting questions for most aged 64½ up to 75.
- Since it’s inception in 2005, we’ve had no rate increases!
- The claims process is quick and simple.
What makes GTL’s Hospital Indemnity Insurance elite?
Base Benefits Kick in After 6 Hours
No Hospital Stay Required
for ER Benefits
Surprisingly Affordable
Rates
Unlimited Amount of Benefit Restoration
Rates Don’t Increase
as You Age
Simplified Underwriting with Instant Approval
No Limits to Policy Lifetime Benefits Received
No Limits to Policy Lifetime Benefits Received
Rates Don’t Increase
as You Age
Simplified Underwriting with Instant Approval
No Limits to Policy Lifetime
Benefits Received
How does Advantage Plus Elite Hospital Indemnity Insurance help cover out-of-pocket expenses?
Did you know even if you have Medicare Advantage insurance, you may still be left with out-of-pocket expenses? Below is an example on how GTL’s Hospital Indemnity insurance helped Sheila, a 65 year old with a Medicare Advantage plan, cover her co-pays and out-of-pocket medical expenses when she went to the hospital.
Meet Sheila
(A hypothetical example)
Sheila’s highly rated Medicare Advantage Plan has a $300 per day inpatient hospital co-pay for days 1 through 6.
Sheila experienced a 6-day inpatient hospital stay. Her Medicare Advantage co-pay was $1,800 ($300 co-pay x 6 days = $1,800).
How did Sheila’s GTL hospital confinement indemnity coverage help lower her out-of-pocket costs?
GTL’s hospital indemnity coverage pays a cash benefit for each day Sheila is in the hospital.
Sheila’s GTL hospital indemnity coverage paid her a $300 cash benefit for each day she was in the hospital (up to 6 days maximum). The cost of her hospital indemnity coverage was $25.14 per month (based on age 65)*
*Rates vary by state.
Since Sheila was in the hospital for 6 days, she received $1,800 in cash benefits which she used to help cover her Medicare Advantage co-pay.
Great News!
Sheila’s GTL inpatient hospital benefits restore an unlimited amount of time after 60 days without hospital confinement, so she may use her hospital confinement indemnity coverage again in the future!
- Sheila’s highly rated Medicare Advantage Plan has a $300 per day inpatient hospital co-pay for days 1 through 6
- Sheila experienced a 6-day inpatient hospital stay. Her Medicare Advantage co-pay was $1,800 ($300 co-pay x 6 days = $1,800)
- How did Sheila’s GTL hospital confinement indemnity coverage help lower her out-of-pocket costs?
- GTL’s hospital indemnity coverage pays a cash benefit for each day Sheila is in the hospital
- Sheila’s GTL hospital indemnity coverage paid her a $300 cash benefit for each day she was in the hospital (up to 6 days maximum). The cost of her hospital indemnity coverage was $25.14 per month (based on age 65)*
*Rates vary by state.
- Since Sheila was in the hospital for 6 days, she received $1,800 in cash benefits which she used to help cover her Medicare Advantage co-pay
Great News!
Sheila’s GTL inpatient hospital benefits restore an unlimited amount of times after 60 days without hospital confinement, so she may use her hospital confinement indemnity coverage again in the future!
You shouldn’t have to worry about covering out-of-pocket medical expenses…
We’ll help connect you with a GTL agent to get covered!
By submitting this information, you agree that GTL and its agents may contact you. Your contact information will be kept confidential.
Frequently Asked Questions about Hospital Indemnity Insurance
How do I file a claim for my Hospital Indemnity Insurance policy?
You can quickly submit your hospital indemnity claim on GTL's Customer Portal. Once you have logged in, select Submit Hospital Indemnity Claim under the Claims tab. Follow the simple steps and submit everything online!
Alternatively, you can download a Hospital Indemnity claim form here, on our Claims page, or on our Customer Portal. Print and complete the form and return it with the required documentation to the address noted on the first page of the form.
Do I need to have a Medicare Advantage plan to get this coverage?
There is no mandatory requirement of owning any other type of health insurance coverage to purchase GTL's Hospital Indemnity Policy.
How much Hospital Indemnity coverage should I purchase?
When determining the right amount of Hospital Indemnity coverage, it's advisable to align it with your primary health plan. While matching your coverage with current Medicare Advantage co-pays is a good starting point, many policyholders opt for additional coverage. This choice is often influenced by the potential for increasing co-pays over time. It's worth noting that securing coverage at your current age tends to be more cost-effective. Waiting to purchase additional coverage in the future may pose challenges due to potential changes in health circumstances.
Does the benefit for my Hospital Indemnity policy have to match the co-pays on my primary health plan?
No, Guarantee Trust Life does not coordinate benefits with any other insurance carriers. We independently determine and pay benefits based on the specific terms outlined in our policy. This flexibility allows you to customize your coverage according to your unique needs, without the requirement of aligning with the co-pays on your primary health plan or coordinating benefits with other insurers.
Will my premium for this policy increase each year?
While we cannot guarantee fixed premium rates, it's important to note that, in the 19 years since the inception of GTL's Hospital Indemnity policy, our valued policyholders have never experienced a rate increase or a reduction in benefits.
How long does my coverage stay in force?
GTL's Hospital Indemnity plan offers a lifetime guarantee of renewability. As long as you continue to pay your premiums, your coverage will remain in force. This ensures ongoing protection and peace of mind for the entirety of your life, providing a reliable safety net for your healthcare needs.
What if I want to add to my current GTL Hospital Indemnity policy?
Policyholders have the ability to add coverage at any time provided the application questions are answered. Simply contact your agent to obtain additional coverage options and guidance.
How long will it take to get my claim benefits paid?
The average GTL Hospital Indemnity claim is processed within 10 business days once we have all of the required documentation.
Does GTL pay the benefits to me?
Benefits are paid directly to the policyholder unless the policyholder has assigned the benefits to the health care provider.
Where can I use my Hospital Indemnity coverage?
You may use your Hospital Indemnity benefits in all 50 states.
This product and its features are subject to state availability and variability. The Policy has exclusions, limitations, reductions of benefits and terms under which the Policy may be continued in force or discontinued. For cost and complete details of coverage, please contact us or your agent. Please call the Life and Health Sales Department at 1-800-323-6907 for complete details. Click here to view product disclosures.
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