How Accident Insurance Supplements Health Insurance

Shopping for health insurance requires you to take account of and compare numerous factors, some of which can be easily overlooked unless you make a special point of investigating them. But no matter how well you choose your health insurance policy, the simple fact is that it's not going to cover everything. And that's where health insurance supplements like accident insurance come in.

​The overall financial impact of a medical emergency resulting from an accidental injury can be huge, extensive, and long-lasting. Health insurance, workers comp, and disability insurance won't cover it all - accident insurance helps to fill in those gaps.

What Does Accident Insurance Cover?
Accident insurance applies only when you suffer from an accidental injury covered by the terms of the policy. Not every accident type is necessarily covered, and not every associated expense is automatically covered. But many are - and those that are tend to cover up gaps left by your health insurance policy.

Here are some examples of the types of expenses accident insurance will typically cover:

• Transportation cost, including ambulance, air ambulance, and personal (if driving to the hospital or care center.)
• Diagnostic exams, X-rays, and images.
• Initial ER treatment for covered accidents.
• Initial and follow up doctor's office visits.
• Chiropractic care and rehabilitative therapy.
• Trips to an urgent care center.
• Diagnoses and treatments for relevant accidental injuries.
• Hospitalization and intensive care unit costs.
• Blood transfusions.
• Lodging, family care, and personal expenses incurred because of the accident.

You can also add accidental death and dismemberment to your policy, if it's not already included in your insurer's standard policy. And many people increase the coverage percentage for child sports injuries. There may be room to customize your policy to your needs, so don't be afraid to ask your insurer.

As to which types of injuries are covered, serious burns, lacerations, concussions, and dislocated or fractured bones are good examples of what's usually covered. Unless you were skydiving or the injury wasn't accidental, you're probably covered as to the cause of the injury - but you still want to double check on all these details with your insurance agent.

How Does Accident Insurance Work?
Like health insurance, you pay a monthly premium for accident insurance, but it's usually very low, maybe only $20 or $30 in some cases.

Unlike health insurance, there's no deductible and no copay to worry about. You are paid a simple lump sum in cash per qualified accident. The amount depends on the severity of the injuries and the cost of care.

You can generally then use the benefit any way you choose. If you need cash for non-medical expenses like rent, car payments, groceries, or child care due to the financial strain resulting from the accident, accident insurance helps you out with that.

Also, there's no waiting period. As soon as you pay your first premium, you're fully insured. However, accident insurance doesn't cover pre existing conditions and is not subject to ACA requirements. But that's why it's called "supplemental".

You can enroll in accident insurance anytime, not just during special enrollment periods.
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If you're interested in accident insurance and want to learn more, or for a free quote, feel free to contact us at Summerlin Benefits Consulting and we'll be happy to answer all of your accident insurance related questions and concerns!