Business managers at K-12 school districts like you have their hands full. Not only do you oversee the school’s operating finances, but you often handle human resources duties and policy implementation. You may take on some of the principal’s tasks so the principal can focus more on education . You also market facilities or programs.
And, as you may know at your own school, you also provide an invaluable non-teaching point-of-view, which offers a different perspective when discussing issues. But although your job description is quite broad, you may be curious how something like student accident insurance fits within your scope and financial responsibilities and could make a difference to your school.
All About Student Accident Insurance
Despite your careful planning and supervision, accidents happen — in the classroom, on the sports field, and especially on the playground . Probably a day doesn’t go by without at least a trip and fall.
While unfortunate, those accidents could have a financial impact on your school’s operating expenses and budget if the school has to pay any of the medical costs due to litigation. This would not be covered under a general liability policy. Fortunately, student accident insurance is a cost-effective way to eliminate that budget risk.
What is Student Accident Insurance?
This insurance helps pay the copayments, deductibles, and other out-of-pocket treatment costs that the student or student-athlete’s primary health coverage doesn’t cover. Those uncovered costs can add up to many hundreds, even thousands, of dollars, which could be hard for a family to manage.
If the family doesn’t have health insurance coverage, then they will be responsible for covering all of the medical expenses on their own. This is often when a family might consider suing the school district to cover the expense. But if a student accident plan is in place, they will have some financial benefits to fall back on and use.
What are a School’s Coverage Options?
The three main categories of plan types are:
- Mandatory plans, where parents pay the premiums, are excess plans that pay secondary to their primary health insurance
- Compulsory plans, where the school covers the premium
- Voluntary plans, which the parent has the option to purchase
Mandatory and voluntary plans can be presented without any cost to the school, while compulsory plans do have a premium cost. There are additional selections, including interscholastic sports plans, catastrophic injury plans, and others, offering you a wide variety of choices to share with the board. Visit the website or download the brochure to learn more.
A-G Administrators has been protecting K-12 schools with accident plans for nearly 40 years, so you can trust we understand your need to protect both students and the budget. Accident insurance is a smart, cost-effective way to do both.
Worried About Taking on Another Responsibility?
Dealing with claims can be a hassle. That may be your first, immediate reaction to learning about student accident insurance. You worry that you won’t have time to handle claims administration on top of your already heavy workload. But A-G has a solution to that, and it’s called EGBAR (Efficiency Generating Business Automation Resource). Through EGBAR, we can handle all of the claims administration for you while also negotiating better treatment costs through our 42 provider networks. So providing student accident insurance won’t add to your workload or responsibilities.
What are the Costs?
Because every plan is uniquely designed around a school’s situation, it’s hard to give a price. The best way to learn about costs is for you or your broker to talk to one of our insurance specialists. You’re under no obligation when we talk. Please feel free to reach out here so we can set up a time to get started.
We’ve been working with thousands of K-12 schools, camps, events, colleges, and universities on their student and student-athlete accident protection. After nearly 40 years, we’ve experienced practically every situation, and our schools have trusted us year after year to keep their financial risks in control. We welcome the opportunity to do the same for your district.
The 3 Ways Student Accident Insurance Can Help Your School
- It protects families from financial repercussions from medical expenses when accidents happen.
- It can lessen the risk of litigation for medical expenses when someone is injured.
- It protects the school from reputational repercussions by reducing some of the causes of parent unhappiness if their child is injured accidentally.
Now, during budget planning, it is a perfect time to find out if student accident insurance is a good solution to protect your school’s fiscal health. Talk to us today . We look forward to connecting soon.