New Hospital Indemnity Policy Is HSA-Compatible

Colonial Life & Accident Insurance Company has introduced an insurance policy that can help health savings account holders fill in coverage gaps.[@@]

Colonial Life, Columbia, S.C., which does business as Colonial Supplemental Insurance, says its new H.I. Secure hospital confinement indemnity policy is an individual policy that pays a benefit for each hospital admission, a flat daily rate for confinement in the hospital and a higher daily rate for confinement in a hospital intensive care unit.

Colonial Life plans to sell the policy through the worksite and now is offering it in 34 states.