Instead of giving an employee a 20 cent raise, give them something that builds loyalty and protects their family and finances. They will forever be a grateful employee and it doesn’t have to break the bank to do this.
Who is happier? The one with accident coverage.
An on or off the job accident can ruin a year, but an accident plan can make the difference in relaxing during recovery or a stressful experience.
Having an accident off the job or a self-employed person with no workers comp is an expensive experience. From insurance deductibles to co-pays and rent or car payments: They all have to be paid, and paid on time to avoid messing up your credit.
While on the job employees have workers comp to provide financial support, a few thousand dollars in the pocket can provide extra money to pay someone else to stay home from work, or someone to come by with meals, easing the pain and suffering.
How long could you or one of your employee’s go without a paycheck if injured on or off the job?
An accident plan that pays. Sure you have health insurance, but what about the deductibles or co-payments for the emergency room, doctor visits, or follow up surgeries?
Getting a check for an accident can be a real lifesaver for you or an employee and it will not break the bank to get this valuable benefit.
Here is an example using a $5,000 medical bill, if an employee has an insurance plan with a $1,500.00 deductible (amount to pay before insurance kicks in) using a typical 20/80 health insurance plan.
$5,000 Emergency Room Medical bill
-$1,500 Deductible (Patient cost)
$3,500 Remaining Bill
$2,800 Paid by Insurance (80% insurance pays)
$700 Patient Cost (20% patient cost)
In this example the total patient out of pocket responsibility is $2,200.00 (1500+ 700); but it does not stop here, you will have follow doctor visits with co-payments. If that co-payment is $50.00, each follow up doctor visit will be another expense.
Surgery is a whole new story.
A $15,000 follow up surgery to correct lingering issues from the accident will be additional costs. Even if you already met the deductible you are still in a 20/80 scenario, using the above example.
$15,000 Surgery Bill
-$12,000 Paid by insurance (80%)
$3,000 Remaining Bill (20%)
Adding the costs from the above example prior to a surgery the total out of pocket expense is $5,200. An accident plan can be the difference of an employee losing a car, getting behind on a mortgage/ rent or ruining their credit.
Instead of giving an employee a 20 cent raise, give them something that builds loyalty and protects their family and finances. They will forever be a grateful employee and it doesn’t have to break the bank to do this.
Plus children are automatically included.