Your business should consider offering accident insurance to enhance your current insurance benefits.
When most companies consider their benefits packages, they only consider the big ones, such as life insurance, health insurance, dental, vision, and disability insurance. Even though these are a good start, you want your benefits package to stand out. For instance, your business should consider offering accident insurance to enhance your current insurance benefits.
Mishaps Happen
The truth is that accidents can unexpectedly happen to anyone, and it’s frequently not a matter of fault. We can prepare for some accidents and avoid them, but they occur. In fact, accidents can be unexpected, so they are not like other expenses you might plan for. When an accident results in injury, it often requires medical attention. Therefore, it can be a significant benefit if your employee benefits package includes a method for your employees to save money on those out-of-pocket expenses because it can be costly.
Will Other Insurance Cover Accidents?
Other insurance may cover accidents, but it depends. If your employees have homeowners, health, and automobile insurance, those will cover many accidents, but not all. Most accidents occur during fitness or sports-related activities. For the most part, medical insurance will cover some of these activities, but it doesn’t include your deductible.
Additionally, some health insurance plans will sometimes refuse to cover things that may receive coverage by another form of insurance, like the homeowner’s insurance for the home where you slipped. Accident insurance can also assist your employees in paying their bills and keeping themselves financially stable, while other insurance companies duke it out over who will cover the accident.
Making Ends Meet
Most Americans today live paycheck to paycheck; they only have a little left over once they pay their bills and regular expenses. Unfortunately, this circumstance makes building up a savings account challenging, but it also means that an unplanned expense, such as an accident, can cause significant problems. Even if medical insurance will pay off most of the cost, the average deductible is $1,500, more than most people would save up.
At Malden Solutions, our employee benefit consultants can help you explore your options and educate your employees on your offerings. Get a free quote with us today!
Find the Right Health Insurance Solutions for Your Needs
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on X, Facebook, and Linkedin