With the 2018 Winter Olympics in PyeongChang, on 24/7, you may see some major wipe outs on the slopes and falls on the ice rink. Though Olympic athletes may be some of the most physically healthy people in the world, what happens when these high-risk individuals have an accident? Health insurance is an extremely important factor for them to consider when it comes their life.
Believe it or not, Olympic hopefuls have policies to cover their injuries through a variety of coverage plans and resources. According to Jeffrey Potteiger, an exercise science researcher in Grand Valley State University, “The reality is these athletes see physicians and trainers at a greater rate than average. Any minor breakdown in health can have a major effect on performance” (KHN). In fact, Olympians see their doctors much earlier than the usual person, as proper medication early can often shorten recovery time.
Many athletes are covered by EAHI, or the Elite Athlete Health Insurance program. However, the EAHI is highly selective – covering only the highest performing athletes, with around 1000 policies given to athletes. Through this, the Olympic USA Swimming team has 56 policies. The USA Badminton team has 5 policies. The USA Gymnastics team has many layers of coverage through EAHI and secondary protection from their personal insurance agents for their risks of paralysis during this physical competitions.
For the Winter Games in South Korea, insurers are crossing their fingers that no major accidents happen. According to Reuters, “The International Olympic Committee (IOC) takes out protection for around $800 million at each Games, which covers the vast majority of the roughly $1 billion investment it makes in each of the host cities.” This insurance does not just cover physical injuries, however; cyber security is also a risk when in a different country and risk insurance is heavily weighed into each individual's policies. Even more, Olympians are not the only people to request insurance during this event. Olympics sponsors as well as hoteliers, merchandisers, car hire firms and travel companies also typically buy insurance for their protection.
Insurance is necessary in so many circumstances, including the international affair of the 2018 Olympics. When you think about what happens behind the scenes of the Olympics, so many details must be taken care of and considered for all to have an enjoyable and safe Olympic experience.
The truth is, you don’t have to be a world-class athlete to get health insurance! Synergy Insurance Services can protect you in any slip up. Health Insurance can offer you a variety of options for covering your well-being, from physical accident to illness. Contact your local, Synergy Agent today to get started, or click here to request a free, no-obligation quote Oklahoma City health insurance quote!