Currently, Liferaft offers Hospital Supplement Insurance across the US in partnership with AIG and MetLife. The two carrier options have some significant differences—with MetLife offering one plan available in 38 states. AIG has a more affordable price point and is more customizable depending on your client's needs. 

Both these guaranteed-issue plans help cover out-of-pocket costs and pay cash benefits in case of a hospital stay that clients can use for any expenses that come up.

Let's take a closer look at exactly what these policies offer.

With Liberty Mutual discontinuing its supplement insurance products at the end of the November, Liferaft will be replacing our Hospital Supplemental Insurance product with a similar product offered by MetLife. This product will be available for future sales starting November 1.

The MetLife and Liberty Mutual Hospital Supplement Insurances have many similarities such as issue ages, payout structure, and monthly premiums. The minor differences agents will find with these two products are the state availability and maximum confinement periods.

We are excited that for the same monthly premium, the new MetLife product offers expanded benefits compared to Liberty Mutual, including ground and air ambulance transportation and newborn nursery care confinement. Take a look at the comparison chart above to see key similarities and differences.

MetLife’s Hospital Supplement Insurance starts at as low as $12 monthly. This policy is age rated and is available in 37 states plus the District of Columbia. There are four different types of coverage available from individual to family, with dependent children being covered until the age of 26. Clients confined to a hospital, ICU, or emergency room will receive cash benefits per day for their stay.

• States of availability: AL, AZ, AR, CA, CO, CT, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, MI, MN, MS, MO, NE, NV, NH, NJ, NY, ND, OH, OK, PA, RI, SC, SD, TN, TX, VA, WI, and WY.
• Individuals between 18-69 can purchase this plan, and benefits will terminate at age 70.
• The hospital plan has a 31-day maximum confinement period per year. 
• Coverage is effective immediately for hospital stays due to an injury.
• For individuals with pre-existing conditions, there is a 12-month waiting period. 
• 90-day incurral period for air or ground ambulance benefit.
• 180-day incurral period for hospital and ICU admission and confinement benefit.

• Coverage types: Individual, Individual + Spouse, Individual + Children, and Family.
• Individuals will receive $500 per hospital admission and $100 per day confined afterward.
• Individuals will receive $1,000 per ICU admission and $200 per day confined afterward.
• Individuals will receive $100 per ER confinement and are limited to 1 day per policy year, with no admission benefit.

AIG’s Hospital Supplement Insurance starts at $5 a month. It’s age rated, available in 23 states, and no smoking status is required. This policy offers three tiers of benefits, the Basic, Preferred, and Premium plans, and provides individual and family coverage. Depending on your client’s state of residence, dependent children are covered up to a certain age. You can view state-specific dependent ages and exclusions in your Broker Dashboard.

• States of availability: AL, AK, CA, DE, FL, HI, IL, IN, KY, LA, MS, NE, NC, NV, ND, OK, RI, SD, SC, TX, WV, WI, and WY.
• Individuals between the ages of 18-60 can purchase this policy, and benefits will terminate at age 65. 
• Benefits are paid for the 1st day of confinement and up to 365-days of required in-patient hospital stays for a covered accident or sickness. 
• Individuals must seek care within 90 days of a covered accident. 
• There is a 30-day waiting period before an individual can be covered for a sickness.
• For individuals with pre-existing conditions, there is a 12-month waiting period. 
• Individuals seeking ICU accident coverage must require care within 48 hours of the covered accident.
• Individuals seeking ICU sickness coverage must be covered under the plan for at least 30 days.

• Coverage types: Individual or family plans are available.
• Basic - Individuals will receive $200 per day during their hospital stay or $400 per day if admitted into the ICU.
• Preferred - Individuals will receive $350 per day during their hospital stay or $700 per day if admitted into the ICU.
• Premium - Individuals will receive $500 per day during their hospital stay or $1,000 per day if admitted into the ICU.

Liferaft offers a variety of different materials for client distribution. You can find state-specific rate sheets, summary of benefits, and client brochures for each of the Hospital Supplement Insurance plans in your Broker Dashboard.

Under Sales Tools > Forms & References, you'll find rate sheets and summary of benefits. If you're interested in viewing client flyers and brochures, you can find them under Sales Tools > For Clients.

Is there an issue age for the Hospital Supplement policies?

Yes, for MetLife policies the issue ages are 18-69, and benefits will terminate at age 70. For AIG policies, the issue ages are 18-60, and benefits will terminate at age 65.

Is the Hospital Supplement available nationwide?

No, MetLife policies are available in AL, AZ, AR, CA, CO, CT, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, MI, MN, MS, MO, NE, NV, NH, NJ, NY, ND, OH, OK, PA, RI, SC, SD, TN, TX, VA, WI, and WY.

AIG policies are available in the following states: AL, AK, CA, DE, FL, HI, IL, IN, KY, LA, MS, NE, NC, NV, ND, OK, RI, SD, SC, TX, WV, WI, and WY.

What is the waiting period for the Hospital Supplement?

For the MetLife policy, coverage is effective immediately for hospital stays due to an injury, for hospital stays due to an illness there is a 30-day waiting period. For clients with pre-existing conditions there is a 12-month waiting period. The AIG policies have a 30-day waiting period for hospital stays due to an illness, and a 12 month waiting period for individuals with a pre-existing condition.