Accidents happen when you least expect them – at home, at work, while playing or while traveling. In 2004, 33.2 million people – about 1 out of 9 – sought medical attention for an injury. (National Safety Council, 2005-2006 Edition). Accident and injury insurance can help fill the gaps left by traditional health insurance coverage. Benefits from accident policies help supplement primary insurance deductibles, coinsurance and other out-of-pocket expenses when injuries occur due to an accident.
Traditional health insurance plans have a deductible and coinsurance. Your total risk for an accident could be high even if your plan features a low deductible. For example, $1000 deductibles are common for many consumers’ health insurance plans; however, your coinsurance limit could be as high as $10,000. If you’re in an accident, you could be liable for $11,000. Century Benefits’ health insurance agents can help assist in determining your maximum out of pocket costs (deductible plus coinsurance limit).
The accident coverage covers up to a $15,000 limit per person per year after a $100 copay. This means you would only need to pay the copay if your total out of pocket is below $15,000. It is that simple.