Group Limited Benefit Fixed Indemnity Insurance from Madison National Life pays a pre-determined, fixed dollar benefit per day for covered medical treatment, services and supplies, such as hospitalization, doctor office visits, emergency room and surgery.
This group limited benefit insurance is designed to help lessen the financial burden of out-of-pocket healthcare costs. It can also help provide an extra layer of protection on top of major medical insurance.
Strengthen your workforce by helping to take the pressure off out-of-pocket medical expenses with Madison National Life’s Fixed Indemnity insurance. It can be highly tailored based on the need and budget, and enables the creation of unique plan designs, such as Hospital Only, Hospital Plus, Accident Expense and Critical Care.
- First Day Hospital Admission
- Inpatient Hospitalization
- Daily Hospital Intensive Care Unit
- Inpatient Mental Illness Disorders and Substance Abuse
- Emergency Room
- Doctor Office Visit
- Preventive Care
- Outpatient Diagnostic Lab
- Outpatient Diagnostic X-Ray
- Outpatient Diagnostic Advance Studies
- Inpatient Surgical
- Outpatient Surgical
Since this Fixed Indemnity insurance does not coordinate benefits with other insurance, it pays on top of other health insurance. What you see is what you get.
Benefit designs are customizable and can be scaled up or down depending on the budget and need.
Advantages of Madison National Life’s Fixed Indemnity Insurance
- Premiums can be fully paid by the employer, shared or voluntary
- No health questions – enrollment is guaranteed
- No pre-existing condition limitations1
- No waiting period2
- Spouse and dependent children insurance available
- Upgrade to one or more of the following Optional Benefit Riders:
- Accident Expense Benefit Rider – pays the lesser of the actual expenses for covered charges or the specified amount per Accidental Bodily Injury.
- Fixed Indemnity Critical Care Benefit Rider1,2 – pays a one-time fixed dollar benefit for a specified health event, including heart attack and life threatening internal cancer, permanent paralysis and end stage renal failure.
- Accidental Death & Dismemberment Fixed Indemnity Benefit Rider
- Term Life Fixed Indemnity Benefit Rider
For a complete explanation of benefits offered, including list of limitations and exclusions, please see the Certificate of Insurance to learn more. Not available in all states.
- Pre-existing condition limitation applies to the Critical Care Fixed Indemnity Benefit Rider. No benefit is payable for a pre-existing condition during the initial 12 consecutive months of coverage under the Policy. A pre-existing condition means any Illness or Injury for which diagnosis, medical advice or treatment was received or prescription medication was taken during the 12 months immediately preceding your effective date of insurance under the Policy before the benefit can be paid. (Note: the number of pre-existing condition months varies by state)
- A 30-day waiting period is applicable to the Critical Care Fixed Indemnity Benefit Rider.