- Whippany, NJ
Whether a student athlete tackles the quarterback, dominates the soccer field, or plays point guard, accidents are bound to happen. Broken bones and fractures, head and knee injuries, dislocations, sprains, strains, and more are common on amateur playing fields.
While athletes are more prone to injuries, any student can get hurt on school property and during school-sponsored activities.
Whether students are injured during a game or while playing on the playground, injuries are a great concern for school administrators. Fortunately, school districts and colleges have an opportunity to step in and provide medical benefits for injured students with Student Accident insurance.
Let's look at four ways Student Accident insurance helps schools big and small.
1. It's Custom-Designed With a School's Needs in Mind
Student Accident insurance is available for public K-12 school districts, private schools, colleges, dioceses, nurseries and day care centers.
"Plans can be written in many different ways to fit a school district's and school's needs and budget," explains Laura Kajor, RPS area vice president.
"You can decide to cover student athletes only; insure all students for any school-sponsored and supervised activity, including recess, gym class, playground activities, field trips, etc.; or buy a plan for specific activities. Even schools with no sports activities may want to cover their students."
Plan prices are based on the activities covered, the school district or school's enrollment, and claims history. A plan can be written to pay anywhere from $25,000 to $5 million per injury.
2. It Helps With Today's Sky-High Out-of-Pocket Expenses
Student Accident plans are designed as excess insurance and cover the increasingly high deductibles, copays, and coinsurance expenses found in today's health plans.
"When a parent allows a child to participate in a school-sponsored sport or a college athlete participates in a school sport, there is an expectation that the student will have protection in the event of an injury," says Kajor. "Student Accident insurance helps to address this expectation by taking care of any additional costs not covered by the primary health insurance."
For example, a high schooler during a school football game fractured his knee. The parents submitted their medical expenses to their health insurance provider, who paid the bills less the $1,500 deductible and $3,000 coinsurance on the policy. The school's Student Accident plan picked up these out-of-pocket expenses.
Should the student be without a health care plan, coverage under the Student Accident insurance becomes the primary policy.
3. It Lessens Lawsuits
Student Accident insurance helps avert litigation that will inevitably cost significantly more than providing coverage to help with medical costs.
Parents are less likely to sue if the school steps in to take care of out-of-pocket expenses or, if the parents have no health insurance for their children, full medical protection. This coverage is particularly critical in today's legal environment, where high verdicts and settlements have become commonplace.
4. It Improves a School's Risk Profile
Not only is Student Accident insurance "goodwill" coverage that helps shield a school from being sued as a result of student injuries, but it can also help decrease the number of claims a school submits under its General Liability (GL) insurance. This serves to improve an insured's risk profile upon renewal.
"This improved risk profile could translate to lower GL premiums for a school district or school," notes Kajor.
Large or small, athletic-focused or simply protecting students the playground, Student Accident coverage can be tailored to fit a school's needs and desires. It's a simple layer of security for students and parents so they can focus on fun, not finances.