Health and accident protection
Health and accident protection is a type of insurance that pays benefits for medical expenses or income loss resulting from illness or accidental injury, as defined by the National Association of Insurance Commissioners (NAIC). Health and accident protection policies cover hospital stays, surgeries, doctor visits, prescription drugs, and emergency care after covered incidents.
Insurers such as UnitedHealthcare and Aetna offer health and accident protection plans with annual limits ranging from $5,000 to over $1 million. Typical exclusions in health and accident protection include pre-existing conditions diagnosed within 12 months before coverage begins.
Premiums for individual health and accident protection average $456 per month in 2023 according to KFF data. Policyholders file claims by submitting itemized bills or proof of loss directly to their insurer within deadlines specified in policy documents, according to a report from YourInsurance.info.
Health and accident protection differs from workers’ compensation because it covers non-occupational injuries like car accidents or home falls. Riders on health and accident policies can add critical illness coverage for diseases such as cancer or stroke at an additional cost averaging $30–$50 monthly.
Major insurers process most straightforward claims within 14 days but may take up to 60 days if further documentation is required.
Do you need accident insurance?
Yes, you need accident insurance. Accident insurance can provide financial protection if you are injured in an accident or become ill due to an unexpected illness or injury. Accident insurance covers medical expenses and other costs associated with the incident that may not be covered by your health insurance policy such as lost wages, out-of-pocket…
See also Health and age criteria, and Health and age factors.