GoFundYOU: Skip crowdfunding with accident insurance

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Key takeaways

Accident insurance can help protect you from medical bills that result from accidental injuries.

If you’re on social media, you’ve likely seen people crowdfunding money to finance medical expenses. GoFundMe, the popular online crowdfunding platform, sees over 250,000 medical fundraisers per year totaling over $650 million raised per year.

Those numbers may seem staggering, but it’s not surprising when you consider that “nearly 1 in 10 adults—or 23 million people—owe medical debt. This includes 11 million who owe more than $2,000 and 3 million people who owe more than $10,000,” according to Kaiser Family Foundation.

Crowdfunding is a wonderful way for donors to help people manage medical bills, but there are risks if you’re relying on fundraisers for your health care expenses. For every crowdfunding campaign that meets its goal, there are many that don’t. In fact, an analysis of half a million GoFundMe medical fundraiser campaigns over five years shows that 88% of GoFundMe campaigns did not meet their goals, and 16% of campaigns received no donations at all.

GoFundYOU: accident insurance is a better option!
If you end up in the emergency room with a serious injury, do you have enough savings to cover your deductible, copays, coinsurance and time off work to heal?  An injury that requires emergency medical care can easily cost you thousands of dollars, yet 57% of Americans can’t afford a $1,000 emergency expense. Rather than turning to a crowdfunding platform, GoFundYOURSELF with accident insurance!

What is accident insurance?
Accident insurance is supplemental health insurance that can pay you cash benefits for today’s most common accidental injuries that send you to the emergency room, urgent care or doctor’s office. This coverage is meant to be purchased in addition to your primary policy, and it pays benefits regardless of your current plan. Some injuries that may be covered by accident insurance include:

  • Fractures
  • Dislocations
  • Lacerations requiring sutures
  • Injuries requiring surgery
  • Paralysis
  • Burns
  • Emergency dental work
  • Concussion
  • Coma
  • Dismemberment
  • Accidental death

Accident insurance policies may also include benefits for: hospital confinements, intensive care unit confinements, ambulance rides, transportation costs, family lodging, physician’s office visits, rehabilitation facility visits, outpatient therapy, medical imaging, medical appliances, prosthesis, blood and plasma, and pain management.

How does accident insurance work?
Accident insurance is as easy as 1, 2, 3!

  1. The unexpected happens: It’s a great day to clean the gutters, until you topple off the ladder.
  2. You go to the hospital: An ambulance takes you to the ER. An X-ray and physician visit reveal a fractured arm. You also need stitches above your eye.
  3. Accident insurance helps when you need it most: Your accident policy pays cash benefits directly to you. Use the cash for ANY PURPOSE, including medical bills, lost wages and more.

Is accident insurance worth it?
Accident insurance and other forms of supplemental health insurance are far more affordable than most people think. Premiums vary by plan and carrier, but the average cost compares with nonessential items like coffee, fast food and cigarettes.5 For many people, accident insurance premiums are negligible compared to the medical bills one may receive after an accidental injury. 

Still have questions about accident insurance? We’re here for you!

Our benefits educators are here to help you choose the right accident policy for your needs. We can help ensure your health care plan protects you and your family from the out-of-pocket costs of accidental injuries. Ask your employer today about Optavise enrollment services.