Group Accident Insurance
Accidents happen! If an employee had an accident and missed work for a period of time, how would his/her income be affected? And think about all those extra expenses incurred – co-pays, deductibles, and unexpected out of pocket medical expenses that add up so quickly. Or, consider the possibility of having to hire help at home, additional child care, or any other unexpected expenses while in recovery. A family could spend an average of $4,300 on out-of-pocket costs even with medical coverage.1
Why This Coverage Makes Sense
The Group Accident Insurance Plan (the plan)* is a strong supplement to primary medical insurance. It provides cash benefits from day one* for medical treatment received for accidents, injuries, ambulance services, hospitalization, and accidental death. There is no coordination of benefits. Cash benefits are paid directly to the employee on a tax-free basis. It also provides coverage for spouse and children – protecting the whole family is easy.
How Does Accident Coverage Work?
The plan provides lump sum cash benefits for treatment received for a covered accident based on the schedule of benefits in the certificate. This could include treatment received from a physician or other emergency treatment.
Treatment Benefits: received from an accident that results in broken bone(s) or dislocation as well as tendon and ligament damage, ruptured discs, burns, lacerations and more. In the case of multiple injuries, only one benefit is paid
Ambulance Benefits: provides benefits for ground ambulance service and emergency air transportation to a hospital or between medical facilities
Daily Hospital Confinement Benefit: benefit for hospital room or ICU charge up to the benefit selected when the injury is a result of a covered accident
Optional riders offered by your employer may include extending coverage on and off the job.
Annual well care is an important part of a health maintenance program and is the best bet for early detection of significant health risks. Numerous studies have shown that early detection helps save lives and increases treatment options.* In recognition of this, our Accident policy has an annual wellness benefit that is payable to each covered individual under the plan. This benefit pays once per year, per covered person and is paid directly to the employee regardless of any expense he/she may have incurred as part of this process.
Protecting Employee’s Financial Security
Coverage is extended on a guaranteed issue basis and premiums are paid through the convenience of payroll deduction. Employees can rest assured that benefits are paid for each covered accident.
1 Brandeisky, K. Here’s How Much the Average American Worker Has to Pay for Healthcare, Sept. 2015, www.time.com/money/4044394/average-health-deductible-premium
* Subject to claims processing
** Cancer Facts & Figures 2016, American Cancer Society, www.cancer.org