Summer is the season for vacations, sports, playground visits, road trips, and outdoor adventures. Unfortunately, it is also a time when accidents can happen unexpectedly. Common summer accidents can include falls on the playground, bicycle accidents, auto accidents during travel, and water recreation mishaps.
Even with health insurance, an injury may result in deductibles, copays, follow-up appointments, therapy, or other out-of-pocket expenses. Accident insurance can provide cash benefits directly to the policyholder to help offset those costs after a covered accident.
Understanding How Accident Benefits Are Paid
Accident insurance policies often provide preset benefit amounts for specific covered injuries, treatments, and services. Instead of reimbursing a percentage of a medical bill, many plans pay scheduled benefits when covered events occur, such as an emergency room visit, X-ray, fracture, ambulance ride, hospital admission, surgery, physical therapy session, or follow-up appointment.
The example below illustrates how multiple covered services related to a single accident can generate several benefit payments. Actual benefit amounts vary by policy, plan design, state, and the circumstances of the claim.
Bicycle Accident Example |
|
| Service | Benefit |
| Urgent Care Visit | $120 |
| X-Ray | $25 |
| Wrist Fracture | $370 |
| Medical Equipment (Brace) | $25 |
| Physical Therapy (3 sessions) | $90 |
| Follow-Up Visits (2 visits) | $100 |
| Total | $730 |
Summer is meant for making memories, not managing unexpected expenses. Accident insurance can provide an extra layer of financial protection when accidents disrupt your plans, helping you focus on recovery and getting back to the activities you enjoy.
Partnering with Pierce Group Benefits
Employers who partner with us to offer accident insurance show a strong commitment to supporting their employees’ health and financial well-being. Employees gain access to an invaluable safety net to help with medical bills and related expenses. This added protection offers peace of mind and greater financial stability for themselves and their families. To learn more, contact your Pierce Group Benefits Account Executive or email partnership@piercegroupbenefits.com.