Senior Market Insurance Announcements

Medico Lowers Hospital Indemenity Rates, Increases Benefits

April 3, 2018

Effective May 1, 2018, Medico will have a new Hospital Indemnity insurance policy to sell with *rich**er benefits* and *19 percent **lower rates*. *New plan benefits:* - Confinement benefit periods of six, seven, eight, nine, 10, 21, or 31 days and daily benefit amounts from $100 to $600 (in $25 increments) - An observation unit benefit of 100% of the hospital confinement indemnity benefit for up to six days - A transportation and lodging benefit of $100 per day for up to 10 days - An emergency room benefit of $150 per day for up to four days *Rider options:* - New outpatient surgery rider, urgent care center rider, and lump sum hospital confinement rider - A chiropractic care benefit has been added to the outpatient therapy benefit - Skilled nursing coverage for up to 50 days - Lump sum cancer rider - Benefits for up to four ambulance service days per calendar year Note: Benefits are slightly different in some states. *See the new Hospital Indemnity **policy highlights** here *. As of April 2, 2018, the new Hospital Indemnity policy is approved in the following states: AL, AR, FL, GA, IA, IL, IN, KS, KY, LA, MI, MN, MS, MT, NE, NV, OK, OR, PA, TX, WI and WV.Policyholders who enrolled in the Hospital Indemnity product prior to May 1, 2018 will see the following enhanced benefits: - Effective May 1, 2018, the hospital observation benefit will be increased from 50% to 100% of the hospital confinement amount and from three days to six days - Premiums will decrease by 20% effective on the policy's next premium renewal date

Want to be the first to hear the latest senior market announcements? Join our list and we'll send them right to your inbox.