In the case of sickness, accidental injury, or accidental death, accident and health insurance (a&h insurance) can help cover financial losses. Accident and health insurance is a broad spectrum of insurance that provides reimbursement for hospital stays during disability or injury and coverage for catastrophic or critical illness. Here's a more extensive breakdown of accident and health insurance.
What Is Accident and Health Insurance?
Accident and health insurance is not meant to replace standard health plans purchased by individuals or group health plans. A group accident policy can be purchased by a business, group or organization looking to protect their participants. Participants would include volunteers, athletes, and students. If a volunteer is injured while volunteering at a non-profit, for example, a group accident policy will help cover any out-of-pocket medical expenses related to the injury. This group policy protects the organization from potential lawsuits and general liability premium hikes. In addition to a group policy, individuals may also purchase an individual policy to help cover themselves while participating in activities. The accident coverage section of health and accident insurance pays for expenses from surgery, follow-up health care, and related costs after a mishap occurs at work, causing injury or illness. Accident and health insurance differs from standard health insurance policies because while an individual's policy typically covers many medical costs, the broader plan provides reimbursement for additional fees and expenses related to ongoing treatment and recovery.
What Does Accident & Health Insurance Cover?
Accident and health insurance provides coverage for many types of medical expenses, including treatment for injuries like lacerations, burns, dislocations, fractures, and more. The treatment for these conditions can include ambulance rides, medical tests and examinations, surgery, emergency care, and even therapy services. Hospital stays are often also covered by accident and health insurance.
Additional benefits of accident and health insurance may include:
- Inpatient rehab
- Accidental death and dismemberment
An example of accident and health insurance coverage in action:
Tom, a volunteer for a food pantry non-profit, gets his foot crushed by a box of products while unloading a truck. The damage to his foot is severe, including fractured bones. He calls an ambulance to get transported to the hospital, where he receives treatment for his fractured foot. The costs of Tom's medical treatment and the ambulance ride are reimbursed by the food pantry's group accident insurance plan.
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Accident & Health Insurance FAQ
Accident and health insurance can be easier understood when considering the frequently asked questions about this coverage. Find answers to some of the web's top-searched questions about health and accident insurance below to help gauge if this coverage is right for you or your company.
Health insurance reimburses medical treatment and related costs due to various conditions. Accident insurance only offers reimbursement for the treatment and other medical expenses related to an injury, etc., caused by accident.
Any group or organization with participants or volunteers is eligible for an accident policy. Most group accident policies do not cover employees. Sometimes, though, employers offer accident policies to their employees assuming they meet their employer's qualifications, such as full-time working status. An employer's eligibility to purchase a group plan for their employees depends on company size and other specifications decided by each insurance company.
Groups do not need to have medical exams performed for the participants they wish to insure. Employees working for a company that provides health and accident insurance plans should also be offered guaranteed acceptance of this coverage, no matter their health status.
Trusted Choice Agents Have You Covered with Accident & Health Insurance
Independent insurance agents can help you get the best accident and health insurance coverage, accessibility, and competitive pricing while working for you. Whether you're an employer or an individual needing coverage, an independent insurance agent can help you find it. They'll break down all the insurance jargon into language that's easy to understand and ensure that you get connected to the best blend of coverage and cost.