Medico Insurance Company

Medico Insurance Company

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Why Medico Hospital Indemnity?

The Medico Hospital Indemnity Insurance plan is an excellent pairing for your Medicare Advantage clients.

  • Issue ages 40-85
  • Simplified issue - short app, no phone interview, no drug screen, no medical exam
  • No Commission Decrease on Replacements
  • 80+ Year Old Company
  • Clients receive payment even if they have other insurance
  • Medico pays them directly, and they may use the payment however they want
  • If your client lives with another adult, they will receive a 7 percent discount on their premiums (varies by state)
  • No deductible and no hospital precertification required
  • No networks

Hospital Confinement Benefit

The hospital confinement benefit pays for each day of confinement in a hospital. Your client can choose the number of days per period of confinement (6,7, 8, 9, 10, 21 or 31 days) and the amount per day (from $100 - $600 in $25 increments).

  • In FL, only option is 31 days. In UT, options are 10, 21, or 30 days. In IL, pays an additional $30 per day for up to 31 days. In PA, pays an additional $10 per day for a maximum of 31 days. In TX, pays an additional $15 per day on days 1-31.

Observation Unit Benefit:

Pays 100% of the Hospital Confinement Benefit amount per day for a maximum of six days per calendar year while receiving services in a hospital observation unit as a result of a covered loss due to sickness or injury.

Emergency Room Benefit:

Pays $150 per day while receiving services in a hospital emergency room as a result of a covered loss due to an injury if admitted to a hospital within 24 hours. Maximum four days per calendar year.

Transportation and Lodging:

Pays $100 per day for a maximum of 10 days per calendar year to cover expenses incurred for transportation or lodging while receiving treatment in a hospital or medical facility located more than 50 miles from the insured’s residence.

  • In KS and TX, this benefit is available only while the insured is hospital confined.

Inpatient Mental Health Benefit:

Pays $175 per day of confinement in a hospital due to a covered mental or nervous disorder for a maximum of seven days per calendar year.

State Availability

The Medico Hospital Indemnity plan is available in all states except DE, ID, MD, ME, ND, NM, RI, and SD.

New to Hospital Indemnity Plan (HIP) Sales?

Clients with Medicare Advantage are excellent candidates for a HIP plan. Learn more about how to make the sale here: How to Make a Sale to a Medicare Advantage Client: Hospital Indemnity Plans

Plus, learn how to use our quote engine, which has a neat pairing feature for MA and HIP: