Accident and Health Insurance (redirected from Sickness and Accident Insurance)

Accident and Health Insurance

An insurance policy that provides coverage when the policyholder (or his/her dependent) becomes ill, is injured, or dies from an accident. For example, a health insurance policy may pay for most or all of the costs of a surgery. Accident and health insurance may cover doctor's visits, medical procedures, prescription drugs, and so forth. The policyholder pays a premium each month in exchange for the coverage; this premium may or may not be subsidized by one's employer. Additionally, the policyholder often must pay coinsurance and/or a copay for certain procedures. In the United States, many people procure accident and health insurance through their employers because it is often expensive to buy on one's own. Likewise, many people have group insurance to provide medical coverage.