Southeast Insurance Solutions, Inc.
Southeast Insurance Solutions, Inc.
2137 Chatham Avenue
Charlotte, NC 28205
Phone: 704-560-8972
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North Carolina Accident Insurance

What is supplemental accident insurance and how does it help?

Accident insurance is a great way to supplement your health insurance plan especially if you have an HSA Plan. This supplemental insurance works as the name implies…if you are in an accident it will cover your injuries up to the chosen benefit amount. 

An example would be if you have a $2,500 deductible on your health insurance plan and you tore your ACL playing a game of pickup basketball, you would be responsible for the first $2,500 in charges before your major medical plan kicked in. However, if you had a low cost accident plan in place, this plan would pay on the first dollar of expense when the injury is incurred. 
This all sounds pretty good so far but how can this really help you? The main reason why an individual or family would use their deductible on their health plan is due to having some type of an accident. By adding an accident plan to supplement your health coverage you could then raise your deductible on your major medical plan because you are now covered for the majority of the reasons why you would even use your deductible in the first place. By raising your deductible this will significantly lower your monthly premiums on your health coverage but not sacrificing coverage or benefits. This is a win win situation in that you get lower premiums and better coverage.
So far so good right? Ok, what if I told you that you could even get paid to get injured? Huh? Let’s look at a sample scenario:
  • You have a $5,000 deductible HDHP HSA plan and a $15,000 accident plan (with a $250 deductible)
  • You are injured in a skiing accident and incur $12,000 medical expenses.
  • Your HSA plan doesn’t start paying claims until you have met the $5,000 deductible.
  • Your accident plan has a $250 deductible which you pay and then the accident plan pays your $5,000 deductible.
  • Now that your major medical deductible has been paid it covers 100% of the remaining balance.
  • However, because you had up to a $15,000 benefit for accidents, $5,000 of this was paid to the doctors (your medical deductible) and the remaining $7,000 was paid to you!
Now, we are not advocating for you to go out and have an accident so you can get paid, but it is a nice benefit to have in that this will help offset other out of pocket expenses you may incur, i.e. lost wages at work.  
Check out the Accident Insurance Brochure to get another illustration of how this can benefit you.
So as you can see, this is just one of many options that can help you drive down your health insurance costs. Please contact us for more information on how to use the accident coverage to your advantage or on the numerous other ways to drive down your costs.
Southeast Insurance Solutions, Inc.
2137 Chatham Avenue
Charlotte, NC 28205