Surprises may be fun for parties, but not so much for household budgets. Despite all the planning and all the saving, an unexpected expense often throws people's finances for a serious loop.

That's especially true with healthcare expenses, which are rising at an alarming rate. A stay in the hospital can cost thousands of dollars a day – not to mention the additional costs for tests, medicines, procedures and ambulance transportation.

But it's not just household budgets that are impacted by healthcare expenses. According to the Bureau of Labor Statistics, benefits accounted for nearly 30% of employers' total compensation costs in March of 2021. And there's no reason to think that tide is turning anytime soon.

One-way employers have tried to control benefit expenses is by offering high deductible health plans (HDHP) to their employees. Just as the name suggests, these types of plans require employees to pay out of pocket for medical expenses until they reach a high deductible limit – usually within the $2,500 to $5,000 range. Even when benefits kick in, employees may also be responsible for co-insurance, often around 20 to 30%. Altogether, an employee's out-of-pocket expenses for even a brief hospital stay could easily total in the thousands of dollars, even with medical insurance.

As major medical expenses have continued to rise, and HDHPs have become more prevalent, the market has responded with a variety of solutions to bridge the gaps. But there's one simple option that is often overlooked – hospital indemnity insurance.