What is Accident Medical Expense?
An accident medical expense (AME) policy is a type of insurance that is designed to help pay for out of pocket costs related to an accidental injury. AME’s come in different forms and can help cover your deductible and max out of pocket on your medical policy. They also can help pay for other expenses incurred as a result of an accident. Expenses like additional gas money, living expenses, lost income can also be covered by an AME.
Why Get an Accident Medical Expense Policy?
Deductibles and out of pocket costs are increasing on medical plans to help keep the price down. Accident medical expense plans offer financial protection against those increasing costs. To get a low deductible health insurance policy, it can be quite costly. Adding an accident plan to your health insurance package can be a lower cost solution to protect you against a high deductible. The cost of an accidental injury policy is often very little compared to the overall cost of your health insurance. Because of it’s low cost and level of financial protection it offers, accident plans are often highly recommended by experts.
What Does Accident Medical Expense Cover?
An accident medical expense policy helps cover out of pocket costs related to an accidental injury. Lot’s of injuries are categorized as accidents. If you are injured because of a car accident, playing sports, falling down stairs, slipping on ice, falling off a ladder, cutting vegetables, working out, etc.; you might benefit from the financial protection of an accident medical expense policy.
Common Accident Medical Expense Exclusions
As with most insurance plans, there are always some sort of exclusions. If something is excluded, you might still have coverage under your medical plan. An exclusion just means that the AME policy just doesn’t provide the financial protection in those situations. Some common exclusions are injuries that happen while you are on the job, a professional athletic activity, intoxicated, or doing something illegal.