Accident plans are an additional benefit that employers offer to employees that can pay cash directly to employees in the case of an out of work accident. Accident plans can cover you on the job, or off the job, but it should be noted that they are different than property and casualty insurance. This plan is fundamentally designed to help employees from loss-of-income scenarios.
Employees are the backbone of small businesses, and they might need protection from the loss of income that can occur from non-workplace accidents. Whether a car accident, fall, or other unfortunate event, an Accident plan puts a plan in place to help employees in their time of need when other insurance policies may not cover loss of income.
Accidents can happen at any time. Injuries affect millions of people in the United States every year. Unfortunate events such as this can cost an employee their entire life savings and bring them to financial ruin.
With all things considered, small businesses are encouraged to protect their employees from all types of risks. And one of Crabtree Benefits’ recommended ways to eliminate these risks is to offer group accident insurance plans to employees.
An accident plan is an extra level of financial protection for employees. On top of the company’s health plan packages, accident plans can cover other personal non-medical and medical expenses like deductibles, copays, and coinsurance if an accident happens.
Accident insurance plans can cover other medical and non-medical expenses on top of the company’s health insurance plan.
Crabtree Benefits and other benefits consultants highly recommend accident insurance plans to protect employees from loss-of-income scenarios.
