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It's likely any employer who uses hr outsourcing is interested in finding and hiring only the most talented individuals who can give a company a competitive edge. To make themselves stand out as attractive job prospects, employers may offer job benefits that are not be universally available across different companies. These include 401(k) packages, telecommuting opportunities or employee wellness programs.

To that end, employers must not forget that the most talented workers may live very active lifestyles, particularly if they are raising families. In these scenarios, it may be a good idea to offer accident insurance, according to an article published in HR Professionals Magazine.

Out-of-pocket expenses add up
According to the news source, accidents can be very costly incidents, even in cases when individuals have good medical insurance policies. Individuals who get into car accidents, which can become more likely for families that drive frequently between extracurricular activities and during winter months, may have to pay for certain expenses on their own. These include emergency room fees and ambulance rides.

Blake Rogers, Jimmy Hinton and Ricky Reynolds – three columnists for HR Professionals Magazine – discussed five reasons why accident insurance can be an attractive and even necessary benefit that employers can offer workers and their families:

  1. Accidents are unpredictable. Experts estimated that 700 people in the U.S. were injured every 10 minutes in 2012 alone.
  2. Accident insurance is not a part of health care reform. Although the Patient Protection and Affordable Care Act increases health insurance coverage in the U.S., it does not impact the provision of accident insurance.
  3. Accident insurance is affordable. Various plans are available to households of different sizes between $5 and $8 a week.
  4. Accident insurance helps workers absorb higher deductibles and out-of-pocket expenses. These plans help cover costs not payable by health insurance, including lost income from work, caregiver fees, some rehabilitation services, travel costs and co-insurance.
  5. Coverage is usually guaranteed for employees. People usually qualify without having to answer questions.

'There's just no good reason to wait'
Whatever accident insurance policies you offer to your workers, experts agree you need to make sure the payer fulfills claims quickly so that employees are not left languishing with expenses, according to an article published in BenefitsPro. Timeliness will be important for any evaluation of prospective payers.

"There are countless reasons to add voluntary accident insurance to your company's benefits package – there's just no good reason to wait," Rogers, Hinton and Reynolds wrote in HR Professionals Magazine. "Take a look at how accident insurance can help you offer your employees valuable, affordable financial protection."