Insurance to help pay Hospital and aftercare costs

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JazzysMom

New member
<div class="FTQUOTE"><begin quote><i>Originally posted by: <b>mom2lillian</b></i>

How does this money you receive affect taxes?</end quote></div>


<div class="FTQUOTE"><begin quote><i>Originally posted by: <b>mom2lillian</b></i>

Their web site says this: "Please note, some primary insurers or plans may reduce your benefits by the amount paid under this plan."



can anyone tell me how their plans affect their insurance? I have good insruance now and dont want to create extra headaches or mess up my benefits in any way.



thanks</end quote></div>

I have gotten thousands and thousands of dollars over the last few years and never have had to report it on my taxes. I dont even get a 1099 or any other report from them for tax purposes. It also does not affect my insurance benefits in any way. I would THINK that any state benefits (I know for sure with New York State Medicaid) that it would be considered income and the ?? is even on the initial application regarding an indemnity policies so any state funded programs would be reduced according to what you get from the indemnity policy.
 
M

mom2lillian

New member
Melissa-thanks alot! I have insurance through my work and I dont know if I dare say how good it is as I am so fortunate (fortunate enough that I can't quit my job no matter that it isn't using my degree <img src="i/expressions/face-icon-small-sad.gif" border="0"> ) anyway I only pay 100 for hospital visits, admission or surgeries so if I got this which I think I will then I may end up 'making' money so to speak when admitted to hospital it just seems to good to be true so I am wondering if there is a loop hole I am missing. Too bad I dont get PICC's anymore<img src="i/expressions/face-icon-small-blush.gif" border="0">, I went with PORT due to phlebitis.
 
M

mom2lillian

New member
Melissa-thanks alot! I have insurance through my work and I dont know if I dare say how good it is as I am so fortunate (fortunate enough that I can't quit my job no matter that it isn't using my degree <img src="i/expressions/face-icon-small-sad.gif" border="0"> ) anyway I only pay 100 for hospital visits, admission or surgeries so if I got this which I think I will then I may end up 'making' money so to speak when admitted to hospital it just seems to good to be true so I am wondering if there is a loop hole I am missing. Too bad I dont get PICC's anymore<img src="i/expressions/face-icon-small-blush.gif" border="0">, I went with PORT due to phlebitis.
 
M

mom2lillian

New member
Melissa-thanks alot! I have insurance through my work and I dont know if I dare say how good it is as I am so fortunate (fortunate enough that I can't quit my job no matter that it isn't using my degree <img src="i/expressions/face-icon-small-sad.gif" border="0"> ) anyway I only pay 100 for hospital visits, admission or surgeries so if I got this which I think I will then I may end up 'making' money so to speak when admitted to hospital it just seems to good to be true so I am wondering if there is a loop hole I am missing. Too bad I dont get PICC's anymore<img src="i/expressions/face-icon-small-blush.gif" border="0">, I went with PORT due to phlebitis.
 
L

ladybug

New member
I found out about the indemnity program from someone who would be admitted to a military hospital covered entirely by her military insurance and still collected the daily amount promised from the policy. So, I don't think it mattered that she had insurance covering the visit. I think it is in place to HELP cover expenses you may incur when you're there, not necessarily pay for the hospital visit. Correct me if I'm wrong. She had told me its more to help pay for time and money lost at work cause she's admitted and other costs associated with being in the hospital (extra child/pet care, etc...) Just various random things that cost you cause you're in the hospital. This is how I understood it anyway.
 
L

ladybug

New member
I found out about the indemnity program from someone who would be admitted to a military hospital covered entirely by her military insurance and still collected the daily amount promised from the policy. So, I don't think it mattered that she had insurance covering the visit. I think it is in place to HELP cover expenses you may incur when you're there, not necessarily pay for the hospital visit. Correct me if I'm wrong. She had told me its more to help pay for time and money lost at work cause she's admitted and other costs associated with being in the hospital (extra child/pet care, etc...) Just various random things that cost you cause you're in the hospital. This is how I understood it anyway.
 
L

ladybug

New member
I found out about the indemnity program from someone who would be admitted to a military hospital covered entirely by her military insurance and still collected the daily amount promised from the policy. So, I don't think it mattered that she had insurance covering the visit. I think it is in place to HELP cover expenses you may incur when you're there, not necessarily pay for the hospital visit. Correct me if I'm wrong. She had told me its more to help pay for time and money lost at work cause she's admitted and other costs associated with being in the hospital (extra child/pet care, etc...) Just various random things that cost you cause you're in the hospital. This is how I understood it anyway.
 
P

Pumuckl

New member
It does not affect your Taxes, there is no statement for Tax purposes as was mentioned. It is for you to use as you wish. I have asked my tax person about this many years ago and she said the money is not considered income that is why it is not reported or taxed.

Here is what it says on my rider:
"...and these benefits are paid directly to you (or anyone you chose) to spend as You see fit. You can use the money to pay hospital and doctor bills. Or you can use it to pay household expenses that pile up while you are in the hospital. Remember there are no deductibles."

It is also totally independed from your Medical Insurance coverage. This is like buying life insurance and you get paid everytime you have a certain occurence.

I have a good medical policy and I still use this as I am not one to turn down free money. For example my insurance coveres the PICC line fully so the $100.00 is mine.
 
P

Pumuckl

New member
It does not affect your Taxes, there is no statement for Tax purposes as was mentioned. It is for you to use as you wish. I have asked my tax person about this many years ago and she said the money is not considered income that is why it is not reported or taxed.

Here is what it says on my rider:
"...and these benefits are paid directly to you (or anyone you chose) to spend as You see fit. You can use the money to pay hospital and doctor bills. Or you can use it to pay household expenses that pile up while you are in the hospital. Remember there are no deductibles."

It is also totally independed from your Medical Insurance coverage. This is like buying life insurance and you get paid everytime you have a certain occurence.

I have a good medical policy and I still use this as I am not one to turn down free money. For example my insurance coveres the PICC line fully so the $100.00 is mine.
 
P

Pumuckl

New member
It does not affect your Taxes, there is no statement for Tax purposes as was mentioned. It is for you to use as you wish. I have asked my tax person about this many years ago and she said the money is not considered income that is why it is not reported or taxed.

Here is what it says on my rider:
"...and these benefits are paid directly to you (or anyone you chose) to spend as You see fit. You can use the money to pay hospital and doctor bills. Or you can use it to pay household expenses that pile up while you are in the hospital. Remember there are no deductibles."

It is also totally independed from your Medical Insurance coverage. This is like buying life insurance and you get paid everytime you have a certain occurence.

I have a good medical policy and I still use this as I am not one to turn down free money. For example my insurance coveres the PICC line fully so the $100.00 is mine.
 
J

JazzysMom

New member
<div class="FTQUOTE"><begin quote><i>Originally posted by: <b>mom2lillian</b></i>

Melissa-thanks alot! I have insurance through my work and I dont know if I dare say how good it is as I am so fortunate (fortunate enough that I can't quit my job no matter that it isn't using my degree <img src="i/expressions/face-icon-small-sad.gif" border="0"> ) anyway I only pay 100 for hospital visits, admission or surgeries so if I got this which I think I will then I may end up 'making' money so to speak when admitted to hospital it just seems to good to be true so I am wondering if there is a loop hole I am missing. Too bad I dont get PICC's anymore<img src="i/expressions/face-icon-small-blush.gif" border="0">, I went with PORT due to phlebitis.</end quote></div>



This is going to sound "sick", but my husband/I get excited about me going into the hospital at times because besides my health getting better. We actually make some money. My health insurance covers my stays 100% and pay minimal so I understand the worry about messing with your health benefits. No worry. One has nothing to do with tho other unless like I said you have benefits through a State Program like Medicaid then the State can require that to be a possible income.
 
J

JazzysMom

New member
<div class="FTQUOTE"><begin quote><i>Originally posted by: <b>mom2lillian</b></i>

Melissa-thanks alot! I have insurance through my work and I dont know if I dare say how good it is as I am so fortunate (fortunate enough that I can't quit my job no matter that it isn't using my degree <img src="i/expressions/face-icon-small-sad.gif" border="0"> ) anyway I only pay 100 for hospital visits, admission or surgeries so if I got this which I think I will then I may end up 'making' money so to speak when admitted to hospital it just seems to good to be true so I am wondering if there is a loop hole I am missing. Too bad I dont get PICC's anymore<img src="i/expressions/face-icon-small-blush.gif" border="0">, I went with PORT due to phlebitis.</end quote></div>



This is going to sound "sick", but my husband/I get excited about me going into the hospital at times because besides my health getting better. We actually make some money. My health insurance covers my stays 100% and pay minimal so I understand the worry about messing with your health benefits. No worry. One has nothing to do with tho other unless like I said you have benefits through a State Program like Medicaid then the State can require that to be a possible income.
 
J

JazzysMom

New member
<div class="FTQUOTE"><begin quote><i>Originally posted by: <b>mom2lillian</b></i>

Melissa-thanks alot! I have insurance through my work and I dont know if I dare say how good it is as I am so fortunate (fortunate enough that I can't quit my job no matter that it isn't using my degree <img src="i/expressions/face-icon-small-sad.gif" border="0"> ) anyway I only pay 100 for hospital visits, admission or surgeries so if I got this which I think I will then I may end up 'making' money so to speak when admitted to hospital it just seems to good to be true so I am wondering if there is a loop hole I am missing. Too bad I dont get PICC's anymore<img src="i/expressions/face-icon-small-blush.gif" border="0">, I went with PORT due to phlebitis.</end quote></div>



This is going to sound "sick", but my husband/I get excited about me going into the hospital at times because besides my health getting better. We actually make some money. My health insurance covers my stays 100% and pay minimal so I understand the worry about messing with your health benefits. No worry. One has nothing to do with tho other unless like I said you have benefits through a State Program like Medicaid then the State can require that to be a possible income.
 
L

ladybug

New member
Another thing I wanted to mention that does kinda stink is that I recently called physician's mutual after getting the $50 a day to up my amount to $75 a day for a higher premium and they said i couldn't do it. They claim THEY determine when they will offer you an option to increase your benefits. Sounds stupid to me. So, just wanted to mention for those who don't have this insurance yet that you should get as much as you think you'll want right when you sign up, since they may not let you get MORE coverage in the future. <img src="i/expressions/face-icon-small-sad.gif" border="0">
 
L

ladybug

New member
Another thing I wanted to mention that does kinda stink is that I recently called physician's mutual after getting the $50 a day to up my amount to $75 a day for a higher premium and they said i couldn't do it. They claim THEY determine when they will offer you an option to increase your benefits. Sounds stupid to me. So, just wanted to mention for those who don't have this insurance yet that you should get as much as you think you'll want right when you sign up, since they may not let you get MORE coverage in the future. <img src="i/expressions/face-icon-small-sad.gif" border="0">
 
L

ladybug

New member
Another thing I wanted to mention that does kinda stink is that I recently called physician's mutual after getting the $50 a day to up my amount to $75 a day for a higher premium and they said i couldn't do it. They claim THEY determine when they will offer you an option to increase your benefits. Sounds stupid to me. So, just wanted to mention for those who don't have this insurance yet that you should get as much as you think you'll want right when you sign up, since they may not let you get MORE coverage in the future. <img src="i/expressions/face-icon-small-sad.gif" border="0">
 
P

Pumuckl

New member
Oh, that is good to know Ladybug... I had no idea... if I ever get some offer from them I will be sure to take that into consideration.

Edit: as JazzysMom mentioned, knowing that I will get paid to go into the hospital is a good motivator to get me to go in (I really hate staying in the hospital <img src="i/expressions/face-icon-small-wink.gif" border="0">)
 
P

Pumuckl

New member
Oh, that is good to know Ladybug... I had no idea... if I ever get some offer from them I will be sure to take that into consideration.

Edit: as JazzysMom mentioned, knowing that I will get paid to go into the hospital is a good motivator to get me to go in (I really hate staying in the hospital <img src="i/expressions/face-icon-small-wink.gif" border="0">)
 
P

Pumuckl

New member
Oh, that is good to know Ladybug... I had no idea... if I ever get some offer from them I will be sure to take that into consideration.

Edit: as JazzysMom mentioned, knowing that I will get paid to go into the hospital is a good motivator to get me to go in (I really hate staying in the hospital <img src="i/expressions/face-icon-small-wink.gif" border="0">)
 
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