Does Accident Insurance Equal Workers Comp?

by Michael on August 25, 2010

in Accident Insurance,Health insurance

In a word: No!

However, even though that is true, for many Accident Insurance provides them needed protection when Work Comp Insurance is simply not an option for them. Many self-employed individuals do opt out of Work Comp for themselves. Why do they choose to do this?

Its because 1) it is expensive and 2) it basically will not pay benefits for the owner. [These comments have to do with California]. So many wonder why they should pay for something that will not provide benefits.

With all the talk about health care combined with the fact that many are suffering from a lack of work – the self employed have to evaluate the best way to protect themselves. Many do not pay into Workers Compensation

But what is a self-employed construction worker or similar tradesman / woman to do? How does a person provide a reasonable amount of protection on themselves?

Here is a link for a reasonably priced accident plan. A person can combine this with a high deductible health insurance plan. This way a person can cover themselves, at least against medical costs, should they get injured while working, and still partially self-insure for sickness (for all of you who “don’t go to doctors”).

There is more to this that I would like to explain to you, as a person in this situation really should do more than what I’ve addressed in this blog and this blog does not address the whole picture.

However, this will get you started. Please call me if you have questions.

Michael Myers

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