Accident insurance
With the cost of medical and emergency care today, it’s not hard to run up a bill of $1,000 or more for a simple fall down the stairs. And in a high-deductible plan, that entire $1,000 may be the employee’s out-of-pocket financial responsibility.
Accident insurance helps protect employees by paying lump sum benefits that are based on the injury and treatment they receive.
This plan includes a schedule of benefits outlining the amount paid for broken bones, stitches, necessary emergency room visits and other treatment. It also includes additional benefits for crutches, physical therapy and other medical expenses.
With more than 60% of employees living paycheck to paycheck,
8 this financial safety net can keep an employee’s knee injury or a child’s broken arm from starting a spiral into medical debt. Coverage is available for children as well and includes benefits for team sports injuries.
This coverage works well with a high-deductible health plan, providing an essential financial safety net for employees.
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