Accident and Hospital Ca$hBack PlanSM
Most health plans will not pay for accident or hospital expenses until a deductible is met. Our Accident and Hospital Ca$hBack PlanSM will pay benefits regardless of a health insurance plan deductible.
For purpose of example, let's consider an employee with a $2,500 health insurance plan deductible. Here's how the product works:
- The employee experiences a 5-day hospital stay resulting from an accident: Hospital expenses total $20,000
- Air ambulance expenses total $2,000
- It is the first claim of the year; deductible is not yet satisfied
- The health insurance plan covers 100% of the expenses after the deductible is reached; employee is responsible for expenses incurred until deductible is met
- The combined Accident/Hospital product will reimburse up to $3,000 for the covered expenses, which could be used to reimburse the health insurance plan's deductible or other out-of-pocket expenses, broken down as follows:
- up to $500 for accident expenses
- up to $1,000 for air ambulance charges
- up to $1,500 for hospital coverage ($300/day x 5 days)
