May 18, 2022
3 minute read

How Supplemental accident insurance can help you

Accidents happen. And when they do, they’re often followed by a series of bills. Affordable Care Act (ACA)-compliant plans can only pay for so much. A supplemental accident insurance policy can help with these unforeseen expenses.

What is accident insurance?

Supplemental accident insurance is designed to help you handle the out-of-pocket expenses that can add up after an accidental injury. Benefit payments are made as lump-sum cash deposits directly to the beneficiary – you can use your benefits however you want. This could include emergency treatment, hospital stays, medical exams, and other related expenses like transportation costs or lodging needs. It can even be used to help pay for some of your living expenses.

How is accident insurance different from health insurance?

Supplemental accident insurance is different from health insurance because it is purchased in addition to, not in place of, ACA-compliant health coverage.

How does accidental coverage work?

Personal accident coverage works by providing direct cash benefits when the unexpected happens, while you pay a premium, usually monthly. The premium amount generally remains the same during the length of the policy. The cash benefit amount varies based on the level of coverage you have chosen.

Like most insurance, it’s important not to let your policy lapse. If you cancel your plan or stop paying your premiums, you will not be able to file a claim should an accidental injury occur. You would also not be eligible to get back any of the payments you’ve made.

What are features of accident insurance?

  • Coverage begins immediately.
  • You have 24/7 protection that covers you wherever you go.
  • Benefits are paid directly to you, not your healthcare provider.
  • You receive a monthly cash benefit.
  • Money can be used to pay for multiple obligations including everyday living expenses.
  • There is no penalty for claims. A reduction in benefits does not occur because of the number of claims issued.
  • You own the policy. It will follow you even if you change employers.
  • There is no coordination with major medical insurance. Policies pay benefits related to accidents regardless of other health coverage.
  • There are no network restrictions. You may access any hospital or physician.
  • Premiums do not increase with age.

What types of accidents are covered?

Falling off a ladder while cleaning the gutters or having a bicycle accident while exercising in your neighborhood are just some of the examples that may warrant supplemental accident coverage. Supplemental accident insurance can help with a variety of mishaps. Many plans will list the injuries they cover, and guidelines and exclusions will differ from policy to policy. It’s important to review each plan carefully. Generally, something as serious as a car accident (or as routine as a trip or fall) can involve injuries that are covered by your accident coverage.

Does accidental health insurance cover sports injuries?

Accidental health insurance may cover sports injuries, depending on your plan and insurance company. It’s important to ask questions concerning each plan’s specific details. If you participate in sports or recreational activities (such as football, basketball, or soccer), be sure to ask if they are covered by your policy. Certain sports like skiing or snowboarding, for example, may not be covered. Other high-risk activities (like skydiving or bungee jumping) may also be excluded.

What are some things that may not be covered?

Supplemental accident insurance does not cover every medical issue. Each policy will differ in the details, but here are some common examples that might exclude you from receiving cash benefits:

  1. Injury that results from sickness or disease
  2. Reckless exposure to danger
  3. Injury sustained while under the influence of certain drugs or alcohol
  4. Suicide or self-inflicted injury
  5. Injury sustained while committing a crime
  6. Injuries that occurred before the purchase of the policy

What does an accidental health insurance policy cost?

The cost and coverage of supplemental insurance policies differs from plan to plan, and can vary by insurance company. Check your plan details with your insurance company.

Who should consider supplemental accident insurance?

You should consider supplemental accident insurance if:

  • You believe you may not have the finances for unexpected out-of-pocket expenses
  • You have a major medical plan with significant deductibles or copayments
  • You’re looking to experience fewer out-of-pocket medical expenses if an accident occurs

Who will benefit the most from supplemental accident insurance?

If your major medical plan has a high-deductible, like a bronze plan, accidental medical insurance may be something to consider. Some people are simply more accident prone than others. If you find your history includes some close calls, you might be a prime candidate for accidental injury medical insurance. Perhaps you know someone who has been injured participating in a sport, driving, or simply in everyday life. This may give you a reason to consider this type of coverage.

Where can I find a supplemental accident insurance plan?

HealthMarkets can help you learn more about supplemental accident insurance, at no cost to you. Call (800) 827-9990 to speak to a licensed insurance agent today, and get started reviewing your options.

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© 2023 HealthMarkets Insurance Agency. All rights reserved.

* Medicare Advantage, Medicare Supplemental Insurance, and Part D options can be explored.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week). If your complaint involves a broker or agent, be sure to include the name of the person when filing your grievance.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency offers the opportunity to enroll in either QHPs or off-Marketplace coverage. Please visit HealthCare.gov for information on the benefits of enrolling in a QHP. Off-Marketplace coverage is not eligible for the cost savings offered for coverage through the Marketplaces.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

48568-HM-0522

© 2023 HealthMarkets Insurance Agency. All rights reserved.

* Medicare Advantage, Medicare Supplemental Insurance, and Part D options can be explored.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week). If your complaint involves a broker or agent, be sure to include the name of the person when filing your grievance.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency offers the opportunity to enroll in either QHPs or off-Marketplace coverage. Please visit HealthCare.gov for information on the benefits of enrolling in a QHP. Off-Marketplace coverage is not eligible for the cost savings offered for coverage through the Marketplaces.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

48568-HM-0522

© 2023 HealthMarkets Insurance Agency. All rights reserved.

* Medicare Advantage, Medicare Supplemental Insurance, and Part D options can be explored.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week). If your complaint involves a broker or agent, be sure to include the name of the person when filing your grievance.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency offers the opportunity to enroll in either QHPs or off-Marketplace coverage. Please visit HealthCare.gov for information on the benefits of enrolling in a QHP. Off-Marketplace coverage is not eligible for the cost savings offered for coverage through the Marketplaces.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

48568-HM-0522