Hospital stays can be expensive, and can quickly extend beyond your budget. A hospital indemnity plan, or HIP, is an optional, supplemental policy that helps pay for covered hospitalizations. Combined with the Lasso Healthcare MSA, our HIP provides additional financial coverage of the MSA's member responsibility amount.
Medicare MSAs and HIPs can be good complements to each other.
Let's consider an MSA...
Medicare A/B costs...
under deductible = member
above deductible = plan
MSA members are financially responsible for all costs until reaching their deductible amount. Then, the plan pays for 100% of any additional Medicare-covered expense.
That's a relief!
This gives members assurance that their financial responsibility for Medicare A/B services is capped at the plan deductible amount, should they be faced with a catastrophic health event.
Members can use the MSA deposit toward their health costs and deductible. They will need to use some out-of-pocket funds, too, in order to reach the deductible. We call that the member responsibility amount.
We encourage MSA members to plan for how they’ll cover their member responsibility amount before enrolling. It’s usually a combination income plus assets plus supplemental insurance policies, but can be different for each member.
Focus on healing
figuring out finances
Finding out, in the midst of an major health event, that you lack the funds to cover the member responsibility portion can cause undue stress at an already stressful time.
A HIP is a supplemental plan that can help pay hospitalization-related expenses, particularly those incurred prior to reaching the MSA deductible, in the member responsibility space.
With many supplemental insurance plans available, how do you know if a Lasso Plus HIP might be the right option? Consider your comfort in covering the MSA member responsibility amount, plus past and potential future hospital stays.
Your Hospital Stays in Past 12 Months + Your Likelihood of Hospital Stay During MSA Benefit Year
Able to cover the MSA member responsibility amount?
(HIP not likely to be financially beneficial)
Unable to cover the MSA member responsibility amount?
MSA + HIP
Our three HIPs complement our three MSA plans. Most HIPs on the market pay a per diem, or set dollar amount per day of hospitalization. Our HIP pays the full benefit amount for each covered hospitalization stay, up to the maximum amounts.
The benefit payment can be used to pay out-of-pocket medical expenses such hospital or provider bills, recovery expenses or even day-to-day living expenses. You decide how best to spend the payment.
Your policy remains in force with us as long as you pay your monthly premiums on time and have not exceeded your policy maximum benefit amount.
Lasso Healthcare Insurance Company currently offers HIPs in these locations, with more coming soon.
If you're enrolling online in the MSA, you'll have the option to apply online in a HIP. You can also use the dropdown below to print and mail a paper application.