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Accident Insurance
Cash benefits to supplement your major medical coverage
Pay your mortgage, major medical premiums or deductibles, or help cover other expenses that don’t stop, even when you experience accidental injury.
Cash benefits to supplement your major medical coverage
Pay your mortgage, major medical premiums or deductibles, or help cover other expenses that don’t stop, even when you experience accidental injury.
ER visits for accidental injuries in 2021[footnotes]“Emergency Department Visits.” Centers for Disease Control and Prevention, November 3, 2023. https://www.cdc.gov/nchs/fastats/emergency-department.htm[/footnotes]
Out-of-network cost of non-surgical treatment for broken lower leg[footnotes]“Estimates Medical Costs .” FAIR Health. Treatment of broken outer lower leg bone at ankle, CPT code 27792, Dallas, Texas, 75001. Accessed March 26, 2024. https://www.fairhealthconsumer.org/medical/search/broken%20leg[/footnotes]
Average individual ACA 2024 major medical deductible for a bronze plan[footnotes]“Deductibles in ACA Marketplace Plans, 2014-2024.” KFF, December 22, 2023. https://www.kff.org/private-insurance/issue-brief/deductibles-in-aca-marketplace-plans/[/footnotes]
What Does Supplemental Accident Insurance Cover?
These policies typically pay a fixed amount when you experience a covered injury from an accident.
The following lists include common coverages of injuries and related services, and exclusions; however, you must read any policy you’re considering carefully since this is not an exhaustive list.
What Accident Policies May Cover
- Sprains, dislocations and fractures
- Concussions
- Lacerations, burns
- Eye injuries
- Torn knee cartilage
- Ruptured discs
- Hospitalization, confinement and inpatient rehab
- Ambulance, urgent care + ER services
What Accident Policies May Not Cover
- Self-inflicted injury or sickness
- Injuries related to pre-existing conditions
- Procedures that are not medically necessary
- Experimental or investigational procedures
- Procedures not prescribed by a doctor
- Injuries resulting from war or active duty military service
- Injuries sustained at work, while under the influence of drugs or alcohol or while participating in a high-risk activity like bungee jumping
Pros and Cons of Accidental Injury Coverage
- You’re in control – You choose how to use your cash benefits to spend any way you need while you recover.
- Keep your doctor – You may be better able to afford a provider or facility outside your plan’s network and have less limitations on your options.
- Enroll year-round – There is no official open enrollment period.
- A plan for every budget – Different levels of coverage may be offered at different price points to meet individual needs.
- Affordable monthly premiums – Because policies are so limited in what they cover, it’s relatively affordable to maintain this supplemental coverage.
- No waiting period – Many policies have no waiting period restrictions, but check policy for waiting periods and limitations.
- Limited coverage + many exclusions – These plans are only meant to cover healthcare services related to qualifying accidental injuries. See exclusions and limitations for a list of non-qualifying events.
- Premiums are based on age and health – The younger and healthier you are, the lower your monthly premium.
- Not ACA-compliant major medical insurance coverage – Accidental injury coverage is a form of supplemental insurance. Supplemental insurance coverage is not required to comply with minimum essential coverage for health insurance, principally under the Affordable Care Act (ACA). A qualifying major medical health insurance plan can provide the 10 minimum essential benefits under the ACA.
Combine With Other Insurance Plans for More Coverage
Combine an accident policy with other supplemental health insurance products for more coverage. Hospital indemnity insurance, dental, vision, and critical illness insurance can complement your supplemental accident insurance.
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Have Questions? Speak to an Agent
Speak to a licensed health insurance agent during business hours for help understanding your options and enrolling in coverage.