What Is Fixed-Indemnity Health Insurance?

Fixed-indemnity insurance is a form of health coverage that helps offset the payments of costly medical expenses as a substitute for income if you cannot work for medical reasons. Fixed-indemnity insurance is not regulated under the ACA. It thus does not require coverage on essential health benefits, may discriminate based on pre-existing conditions, and does not require a cap on annual out-of-pocket spending.

Mira offers an affordable health coverage solution to ensure all your basic health needs! Plans start at just $25 average per month and offer highly discounted rates on prescriptions and lab screenings, and virtual care. Sign up yourself, the whole family, or even your business!

What is Fixed Indemnity Health Insurance

Fixed-indemnity health insurance is a type of health plan called hospital indemnity insurance. Fixed indemnity is different from traditional health insurance in several ways. For example, payments are made to the health consumer throughout an individual hospitalized or experiencing severe illness. 

Hospital indemnity insurance can be helpful to Americans that don't have enough savings to cover unplanned medical bills. The average three-day hospital stay is $30,000 out-of-pocket, but indemnity insurance can help reduce the burden of a significant medical event. Your reimbursement amount depends on the level of coverage you choose, based on the intensity of your medical needs. 

What Is Covered Under Fixed-Indemnity Insurance

Coverage under fixed-indemnity health plans varies widely, and some may appear as traditional health insurance plans, although they are not regulated under the ACA. As a result, these plans are not required to cover all essential health benefits and may discriminate based on pre-existing conditions. These plans offer an additional layer of coverage for major illnesses and injuries, with reimbursement amounts varying depending on the intensity of the medical care required. While coverage varies with each plan, indemnity coverage typically offers:

• Daily Hospital Confinement
• Diagnostic Outpatient Care (MRI, Lab Testing, X-rays)
• Intensive Care Unit (ICU) Coverage
• Daily Anesthesia
• Outpatient Radiology or Chemotherapy
• Surgical Procedures
• Emergency Room Visits
• Ambulance
• Some Preventative Care (Mammogram, Colonoscopy, etc.)