Hospital Insurance

Often mistaken for a hospital plan, hospital insurance does not cover medical bills for inpatient care. Rather, hospital insurance usually appears as an extension of a long-term insurance policy to cover loss of income for hospital visits. That is, the policy pays out a certain amount of money each day the insured is hospitalized to cover the loss of income for not having worked during that time. While most businesses provide employees with a mandatory number of sick leave days, this is not a common policy. For self employed individuals or individuals who earn their income per hour, hospital insurance is a great supplement to a hospital plan.