Fixed Indemnity insurance is a supplemental health plan that provides fixed benefits for medical events. Employers who want to offer insurance to employees but cannot bear the costs of traditional health plans may turn to Fixed Indemnity insurance and medical plans to help protect their employees, particularly those who work part-time or seasonal hours.
How Does a Fixed Indemnity Plan Work?
Fixed Indemnity medical plans, like EssentialCare Fixed Indemnity, are sometimes known as “fee-for-service” plans because they provide a cash payout benefit for specific covered services that the insured (or covered dependent) incurs. These products have no deductibles, copays or coinsurance. Instead, the benefits are pre-determined and simple to understand (e.g. Surgery = $500/day, Doctor’s Office Visit = $75/visit*). They pay out regardless of how much the service actually costs.
What Benefits does a Fixed Indemnity Plan Provide?
Benefits are limited to specific, event-driven medical services, like doctor’s office visits, hospital services, surgical procedures, and more. Some plans offer a wellness benefit for preventative care and access to a national discounted medical network. EssentialCare Fixed Indemnity also includes ancillary benefit options such as dental, vision, term life, and short-term disability.
How Does Administration Work?
BCS EssentialCare has extensive experience with the part-time and seasonal workforce, and understands the administrative requirements for these groups. A variety of enrollment options are available, and billing can be done on payroll cycles (even weekly!) with missed premium payment options.
What Groups Might be Targets for Fixed Indemnity?
Groups with large populations of hourly and part-time employees, who do not currently receive health benefits, may be excellent targets. This includes industries such as: restaurants, hotels/hospitality, retail, franchise groups, and more.
Flexible plan designs allow for customizable programs to meet a group’s needs, including ancillary benefits like dental, vision, life, and short-term disability. If you have a group that may be a fit for Fixed Indemnity medical plans, visit essentialcare.com and contact us today.
*Amounts shown are examples only. Benefits vary by policy. Please refer to policy documents to determine your plan’s benefit schedule.
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.
