Personal Accident Insurance Plans – Emergency Room Insurance Coverage Supplements

Personal accident insurance supplements are a form of injury insurance that can be used with any licensed doctor, emergency room, clinic, or urgent care facility in the United States (and while traveling abroad for up to two months). Supplements are not insurance but a indemnity that pays a predetermined amount which is called the policy face value. The primary purpose of indemnity plans is compensation for a financial loss. That financial loss is the doctor or hospital bill. So look at indemnity’s as a form of compensation insurance. Savvy medical insurance consumers seek out this type of plan because they know what’s actually paid upfront and people can select which areas of health care they want to insure. One area of health care that’s important to insure is the emergency room. Here’s an example of typical ER policy benefit levels and what the monthly price is.

Emergency room insurance supplements have no underwriting or health questions when applying. Plans are guarantee issue up to age 70 and usually have a $100 dollar deductible per injury. Deductible is the dollar amount you pay before the health insurance company pays. Accident plans pay out per injury and benefits reset after each use subject to another one hundred dollar deductible.

Personal injury insurance plan prices and benefits at a glance:

Individual- $36.00 US dollars per month for a $10,000 injury benefit.
Individual- $29.00 US dollars per month for a $7,500 injury benefit.
Individual- $24.00 US dollars per month for a $5,000 injury benefit.

Family- $47.00 US dollars per month for a $10,000 injury benefit.
Family- $41.00 US dollars per month for a $7,500 injury benefit.
Family- $35.00 US dollars per month for a $5,000 injury benefit.

Not all emergency room visits are from accidental bodily injuries. Heart attacks, stroke, and life threatening cancer are other medical conditions that require immediate hospital care. The personal accident insurance supplements mentioned above only cover bodily injuries and not sickness or disease.

To cover other emergency room coverage related expenses such as heart attacks, stroke, and cancer, consumers can purchase a Critical Illness Insurance Plan. These are a form of cancer and stroke insurance supplements that pays up to a predetermined amount similar to the personal injury plans. The type of Critical Illness plan I’m writing about here pays up to a lump sum cash benefit of$10,000 US dollars. So yes, this is another indemnity plan which is basically compensation insurance. The $10,000 lump sum policy benefit is the compensation when a policy holder has any medical expenses relating to life threatening cancer, heart attack, and stroke. This cash payment can be used for care related living expenses, travel expense, home health care, college tuition, child care, and job retraining. A common use of the compensation is to cover the initial emergency room bill when the person was admitted to the ER. A lot of people will use the cancer heart health insurance supplement to cover the deductible on an existing HDHP (high deductible health plan). Most major medical insurance plans have deductibles which are exposed to the initial emergency room bill. This means that even a family with a 5K deductible could have a future $5,000 out of pocket bill should a family member break a bone or what ever.

Cancer and Stroke Insurance Plan rates at a glance:

Individual policy = $25.00 US dollars monthly premium.

Individual & spouse policy = $48.00 US dollars monthly premium.

Critical illness plans cover invasive cancer, heart attacks, stroke, major organ transplants, kidney failure, and coronary artery bypass grafts. Supplemental cancer insurance plans like this can cover emergency room bills and work well to compliment an existing health insurance plan or to be purchased as a personal policy.