Accident Insurance For Summer Camp
MedSave.com reminds parents with children who will be starting summer camp next month that there are only for more days to enroll for accident supplement accident insurance that will cover their children by the start date of most summer camps. Enrollments received online before midnight Thursday May 31 will be effective June 1. Applications received on or after June 1 will be effective on the following month (July 1), leaving a gap in coverage for the month of June. Parents are therefore urged to act quickly to receive coverage for the entire summer. Secure online enrollment is fast and easy at http://www.medsave.com/Value-Benefits.htm under the product brand name "Value 24 Hour Accident Insurance". This insurance is available to the residents of all states except Alaska, New York, Oregon and South Dakota. (Coverage issued in other states is valid to cover accidents incurred in these four states). See the Web site for all insurance details, limits, exclusions
This supplemental accident coverage is especially important for those who have high deductible health insurance that is increasingly common in benefit plans that use Health Savings Accounts (HSA) or Health Reimbursement Arrangements (HRA). The supplemental insurance covers 100% of the accident costs that are not covered by other insurance, after a $100 deductible, that may be caused by a high deductible, policy exclusions, policy benefit limits, co-pays or reduction in benefits due to out-of-network or unauthorized services under the provisions of other types of health insurance plans. The supplemental insurance provides 24-hour coverage at home, at work, or while traveling.
The minimal cost of family coverage is $30 per month for $2,500 additional insurance but MedSave.com recommends adding $5,000 coverage for $40 per month. (Rates for single coverage are slightly less). The premium does not change with age or declining health. This coverage protects all members of the family, including parents, for the duration of the policy. The coverage is valid everywhere in the United Sates and even covers accidents incurred during trips to foreign countries. Benefits are paid directly to the policy owner and can then be used with any doctor of hospital. The policy covers the cost of ground or air ambulance, hospital charges, doctor charges, emergency room charges, surgery and anesthesia, prescription drugs, x-rays and lab tests, and reconstructive dental expenses. Coverage may be cancelled at the end of the summer or kept indefinitely to continue to supplement the regular health insurance.
Benefits and tax adviser Health Insurance of OnlineAdviser service notes that the IRS grants special tax treatment to permit this type of insurance termed "other allowable insurance" so that it may be used in combination with a Health Savings Account to provide 100% insurance protection without jeopardizing the tax benefits of the funds in the Health Savings Account.