Although accident insurance can not replace health insurance, it can be very useful. Accident plans are designed to cover health insurance costs for health problems that manifest from outside the body. This would include things such as falling and hurting yourself, getting cut, breaking a bone, etc.. This would not include such things as becoming ill, cancer or anything which manifests from inside the body.

So why would this type of coverage be useful? Most people fear purchasing a high deductible plan because they are fearful that if an unforseen accident happens it would be too much out of pocket. The accident plan will step in and pay for such occurances. This could help ease any worries of purchasing a high deductible plan, such as a tax favored HSA plan.

Accident plans are available from multiple insurance companies. Most accident plans are very affordable and do not require any underwriting, allowing almost anyone own one.