Selected Benefits currently offers several accident plans, but our most popular is from NACD (National Association of Consumers Direct).
The plan is designed to pay for any expenses related to a covered accident (that your health insurance doesn’t pay for) up to the benefit amount you purchase. In order to activate the benefit, you must pay a $100 deductible. The plans are currently available in benefit amounts of $2,500, $5,000, $7,500 and $10,000.
What we normally recommend is to match the benefit amount of the accident plan as closely as possible to your health insurance total out of pocket. For example, in Texas, Cigna currently offers a $5,000 deductible Health Savings Account. This plan has 100% coverage after the deductible is met. If you have a covered accident, instead of paying Cigna $5,000, you would pay a $100 deductible and the accident plan would pay the first $5,000 of expenses for you up to the point where you health insurance policy takes over at 100%.
Most all accidental injuries are covered unless 1) you are drunk or under the influence of drugs when the injury occurs, 2) you are participating in a high risk activity such as bungee jumping, skydiving, motorcycle or boat racing, etc, or 3) you are over the age of 18 and are participating in an organized sports league. This last exception is because most all sports leagues are required to carry their own accidental injury plan and the expenses would fall to them (such as a college football team).
If you have a covered injury, when you arrive at the medical facility for treatment, give them the ID card from your health insurance company and ask them to file all claims with that company. Do not give them the accident plan ID card since they will not file a claim on your behalf for the accident plan. After you’re home for a week or so, several bills will start to arrive, Normally, you’ll have one from the medical facility, the doctor on staff who treated you, the x-ray department and possibly one for the materials used. At that point, just contact the membership department for your accident plan. They will require you to complete a short claim form describing how the accident occurred and charge you a $100 deductible. Then just fax them the related medical bills and let the accidental injury insurance company pay them for you.
Since Selected Benefits has begun offering accident plans about 2-3 years ago, the accident carriers have paid out and saved our clients several hundred thousand dollars in claims. If you feel this product would benefit you, please call us at 866.270.6209.