Stay Competitive with an Accident Insurance Offering
While medical, life and disability insurance are some of the most traditionally needed packages, accident insurance should never be forgotten! Although these three serve as an excellent start, they can’t be enough. Especially if your business wants to offer a competitive benefits package, you will definitely need to provide a more selective supplemental benefit option to your employees. That is why you should consider adding accident insurance. Employees are looking for opportunities to get additional benefits such as accident insurance to protect them if a major accident occurs.
Here are a few more reasons why your business should consider adding accident insurance as part of your voluntary benefits plan:
Retain Your Talent
These days, more and more employees are living paycheck to paycheck. The reality remains that financial struggles are all too common. The average medical health insurance deductible is almost $1,500. However, most employees don’t have that kind of money readily available. In fact, nearly half of all American employees say they would have trouble coming up with just $400 in an emergency situation. This leads us to wonder how we can help the working population in the event they have an accident. Accident insurance is a way for employees to protect their financial well-being by bridging the gap between their out-of-pocket expenses and their medical insurance coverage.
It’s inevitable. No matter who may be at fault, an accident is just unavoidable. Americans are usually seeking medical help for injuries they sustain. As a result, giving employees the opportunity to save some money on medical bills associated with a broken arm can really be a huge perk.
Other Coverage Might Not Be Enough
Health and automobile insurance should be able to cover most accidents, right? It depends! It is important to note that many accidents treated in a hospital emergency room are usually associated with a sports injury, not a car accident. From basketball to bike riding, there are a variety of various activities that generate a wide array of accidents requiring medical attention. Therefore, accident insurance can serve to protect healthy men and women who are athletic and fit but may want to avoid having insane medical bills if they injure themselves on the field.