Affordable Care Act
Get to Know Accident and Critical Illness Insurance
Published on September 02, 2015
How are you going to pay your bills if you’re hospitalized for an unexpected accident or are suddenly diagnosed with cancer?
If that question has you stumped, you should consider an accident or critical illness insurance plan. Now eHealth has published a free, new eBook to better educate consumers on the value of these insurance products.
The new eBook, titled “3 Steps to Understanding Accident and Critical Illness Insurance,” is available for download through the eHealth’s Consumer Resource Center.
What Are Accident and Critical Illness Insurance Plans?
Accident and critical illness insurance products are not major medical health insurance plans and do not meet the coverage requirements of the Affordable Care Act. However, when used in conjunction with a major medical plan these products can provide a valuable second layer of protection in case of unexpected injuries or serious diagnoses.
Unlike traditional health insurance plans, accident and critical illness insurance products pay the policy holder directly (rather than the doctor or hospital) when a qualifying event occurs.
Money received in the event of a qualifying injury or medical diagnosis can be used by the policy holder to help cover personal expenses such as health insurance deductibles and copayments, rent or mortgage, childcare expenses, utility bills, gasoline or groceries, among other things.
Cash payouts provided through an accident or critical illness plan can also help mitigate the loss of income a policy holder may experience if required to spend an extended period of time in the hospital.
Learn More with eHealth’s eBook
eHealth’s eBook is designed to provide consumers with answers to the following questions:
- What are accident and critical illness insurance plans?
- How to accident and critical illness insurance plans work?
- When should I consider an accident or critical illness plan?
The eBook includes helpful examples and illustrations, as well as answers to frequently asked questions. It also explains to consumers how accident and critical illness plans may be used in conjunction with major medical health insurance plans to fill the gaps that traditional medical plans do not cover.