That’s why accident insurance can serve as a sensible way to help employees cover expenses that most medical plans won’t. As the health insurance market shifts more responsibility to individuals through higher out-of-pocket costs, you can help your employees avoid financial hardship without increasing costs to your company.
Accident Insurance benefits are paid directly from Guardian to the covered employee – not to the doctors or the hospital. The money your employees receive can be used however they wish – for medical bills, child care, mortgage payments, groceries, or any other expense, allowing them to concentrate on getting better instead of how they’re going to pay their bills. And with a price tag similar to a latte a day, the cost of accident insurance is one you can share with your employees if you choose.
Accident insurance can be a great way to cover unexpected medical costs, especially before health insurance kicks in.
Guardian Accident Insurance offers three features you’re not likely to see from other carriers:
The Rainy Day Fund: This feature helps pay for additional services when members exceed the maximum number of allowable treatments and visits.
Automatic Increase: Add this option to give employees a 5 percent increase in benefit amounts each year for five years.
Injury-Free Benefit: This unique rider rewards members who are accident-free for five years with a benefit payout of up to $500.
Guardian Accident Insurance covers services related to:
- Common injuries such as burns, dislocations, fractures, concussions, eye injuries, lacerations, and brain trauma.
- Services during treatment and recovery, such as ambulance, emergency room treatment, x-rays, hospitalization, surgery, chiropractic visits and more.
- Outpatient therapies (occupational, physical, vocational, speech, respiratory, cognitive, behavioral)
It’s important to encourage children to be active. With millions of children participating in organized sports such as baseball, soccer, lacrosse or football, they have a greater risk for accidents. With Guardian Accident Insurance, benefits are increased by up to 25%2 if a covered dependent child (aged 18 years old or younger) is injured while participating in an organized sport. We also cover baseline concussion studies, which are required by many youth sports leagues.
Our Rainy Day Fund pays benefits when a covered person exceeds the maximum number of allowable treatments or visits on an Accident benefit. Members start each year with up to $500 in the fund (varies based on the plan design chosen by employer) and we use that money to pay claims that would otherwise be denied due to frequency limitations. Leftover amounts up to half of the initial fund amount are rolled over to the next year. Uses for the Rainy Day Fund include doctor follow-up visits, fractures, outpatient therapies, and many more.
TravelAid Services are also included providing employees and their dependents with a safety net for both personal and business travel. TravelAid is available around the clock and the world to ensure assistance when members need help the most – whether it’s a medical emergency or simply replacing travel documents.
With optional riders available on any of our Guardian Accident Insurance plans, you can tailor your employee benefits offering to meet the specific needs of your company, your employees, and their families. Available riders include:
Injury-Free BenefitTM. Members are paid a benefit when their family remains claim-free for five years. We pay the benefit even if there are Wellness and/or Concussion Baseline Study claims. No other carrier offers this type of planholder rider.
- Automatic Increase Option.** Provides an automatic 5% increase in benefits every year for a maximum of five years with no increase in employee premium. Does not apply to: disability, hospital confinement due to sickness, and wellness benefit.
- Wellness rider. which encourages employees to stay healthy by including a wellness benefit payment of $50 - $150 per year when they complete certain routine wellness procedures or screenings.
- AD&D rider (accidental death & dismemberment). where additional benefit payments are available if there is an:
- Accidental death
- Catastrophic loss
- Accommodation to home or vehicle that is needed
- Hospital confinement for sickness rider, which provides an additional benefit payment for each day the insured person is in a hospital due to sickness.
- Disability rider, where an additional benefit payment is made if an employee or covered spouse becomes disabled and unable to work (weekly payments can be for 26 – 52 weeks).
Our dedicated enrollment team will design the best enrollment strategy for your company. Employees are assisted throughout the enrollment process with a variety of educational touch points so they can make the best decisions about their insurance needs. As your accident insurance company, we offer personalized enrollment kits, online enrollment, enrollment meetings, and provide an employee benefits hotline.
After enrollment, you receive ongoing support for billing, claims, forms, changing personal information, and any other customer service inquiry to ensure easy plan administration.
We'll work with you and your broker to design the optimal group accident insurance plan for your company.