Accident Health Insurance is a way to hedge your high deductible medical policy. An accident policy has benefits, which help cover out-of-pocket medical bills in the event of an accidental injury. For the under 65 segment of the individual and family health insurance industry, major medical insurance or Obamacare plans often have very high deductibles. These large deductibles can be as high as $13,000 on many family plans. The Accident policy will help cover these costs. Simply select a benefit amount to match up with your major medical insurance deductible.
Accidental Health Insurance – choose your benefit level
First and foremost check your health insurance policy deductible and out-of-pocket maximums. Ideally, you would want to choose a benefit level to match these costs. For example, if you are an individual with a bronze policy, it may be best to select a $6600 deductible as this would cover the bronze deductible and co-insurance amounts. This will assure that you have the funds you need to help pay emergency room and doctor’s costs in the event of an accidental injury.
Accident Health Insurance PLUS Options
Americans are even more excited about the added benefits of Cancer, Heart Attack, Stroke. This added coverage provides lump-sum cash benefit upon first diagnosis. Essentially, the plan provides money to you when you need it most.
Example, if you have a $6600 benefit on the Cancer, Heart Attack, Stroke and then you are diagnosed with an invasive cancer, the plan would pay out the $6600 amount that you could use toward your deductible or other costs. These plans are very popular for families who are familiar with the costs associated with cancer. The idea of having the deductible covered in the event of cancer provides great peace of mind. It is well documented that cancer treatment usually requires about $20,000 extra money to cover health insurance deductibles, loss of wages, mortgages, insurance, home healthcare, transportation, and other unexpected costs when one is under cancer treatment. The added cancer benefit of this policy helps elevate some of the financial burden.
Add the Sickness Hospitalization Benefits
Just as the Cancer, Heart Attack, Stroke benefits provide lump some, their is also another option that can be added which is the Sickness Hospitalization Benefit. This add-on provides lump-sum benefit paid upon first covered day in hospital Pays regardless of other coverage. The key point is regardless of other coverage. Sickness Hospitalization helps you pay out-of-pocket medical expenses if you are admitted to the hospital.
The key points to this added benefit are:
- Easy to obtain with just three medical questions
- Lump-sum cash benefits paid upon the first day of hospitalization
- Benefits paid over and above any benefits you receive from any other plan
- Use any doctors or hospitals you wish
Both the additional riders listed above are not available in all states, but they are available in most states. Simply visit this link to get a quote on Accident Insurance.
Notice: Under most Medicare Advantage Plans or Medicare Supplement Plans, Accident Health Insurance would not be needed. Accident plans are mostly sold to the under 65 market.