According to the National Safety Council, approximately 39,600,000 accidental injuries are treated in medical facilities across the US each year. Many health insurance policies do not cover all of the acquired medical costs associated with these injuries, and patients are left paying out-of-pocket costs. Accident insurance is a form of supplemental insurance that picks up many of these costs that accumulate after an accidental injury.
Large-scale employers are typically required to offer their employees adequate medical coverage when it comes to the insurance policies that they offer. Unfortunately, these plans don’t always provide employees with full coverage all-around. Employers can offer accidental coverage as a voluntary option to their employees for supplemental coverage with no cost to the employer themselves. Since the option isn’t mandatory, employees will still be required to pay a fee each month in order to maintain their coverage status. Policies frequently offer the option of deducting the plan costs directly from payroll for optimal convenience.
Once a prospective policyholder becomes approved, they can remain confident in the fact that they will be covered in the event of an accidental injury. If an injury occurs, the supplemental plan will pick up any related costs that were not covered by the primary insurance. The reimbursement is sent via check or direct deposit, and patients can use it towards co-pays, exams, medical appliances, and any other approved medical costs surrounding the injury.
This form of supplemental coverage comes in three main groups: travel, special risk, and general accident policies. Travel insurance is a good investment for those who travel for both professional and recreational reasons. Special risk policies are more geared towards individuals who participate in events or activities that have high rates of accidental injuries or death. General accident policies are those often purchased by employees or even students to protect them from potential accidents.
Investing in accidental coverage is a wise choice whether you are an employee, employer, or someone just looking for an added level of personal protection. Knowing that your medical costs will be covered to the greatest extent reduces stress significantly. Knowing that you have the security of coverage before an accident occurs will unquestionably provide you with the highest level of reassurance.