Accidents happen. And, too often, they are the reason you are using your health insurance.
With clients choosing ever-higher deductibles and co-insurance for their health insurance plans, this means they are paying the medical costs for these accidents out of their own pockets.
But, there is a clever way of avoiding this and possibly saving some premium monies as well.
I often recommend that my clients go with as high a deductible on their health insurance that “they can sleep well at night with.” This keeps the premium as low as possible and, as a deductible is statistically rarely reached, “it is better to keep the money in your pocket each month, than to automatically send it to an insurance company.”
However, to play it safe, I recommend that they buy a separate Accident Only Policy to cover the deductible and co-insurance so that, if the reason they are using the health insurance is for an accident, all the bills they get stuck with, they will send to the accident company for reimbursement and they end paying virtually nothing.
Here is a link to an accident plan offered by WBA (Wholesale Benefits Association) that I often use.
Or, if you’d like to talk to a human about this type of protection, give me a call at 303-541-9533.
- Published in Accidents, Individual Health Insurance