USA Boxing Insurance deductibles

[Dennis]

For all members of USA Boxing, the sports accident insurance deductibles have increased dramatically starting October 1, 2009. The old deductible for the secondary medical insurance coverage was $100.00. The new deductible per claim is $1,000.00 if the member has his/her own primary health insurance coverage or $2,500.00 if the member does not have his/her own primary health insurance coverage.

[boxmel]

or $2,500.00 if the member does not have his/her own primary health insurance coverage.

May as well not even provide insurance. Anyone needing secondary sports insurance (not having their own) won't be able to come up with $2,500.00. Stupid.

[Dennis]

I agree wholeheartedly Mel. They need to find better, less expensive sports accident insurance soon. I can't believe that was the best they could come up with. Other contact sports find cheap insurance that provides good coverage and low deductibles so why can't USAB?

[Mauler]

Great.
I can't afford health insurance and I surely can't afford $2,500 if I get hurt. And I'm willing to bet that if an athlete does make a claim that the insurance company is going to fight it anyway.
Unfortunately, this is something that is going to make me reconsider whether or not I can really afford to box.

[princyjoshu]

thanks for sharing it with us :)

Health Insurance tx

[boxmel]

thanks for sharing it with us

Health Insurance tx

Do they cover injuries incurred while sparring or competing in boxing? Most insurance companies do not.

[Dennis]

I hope everyone is aware of the high deductibles since October 1st.

[I Love To Fight]

I hope everyone is aware of the high deductibles since October 1st.

I wasn't and found out the hard way

[Dennis]

I hope everyone is aware of the high deductibles since October 1st.

I wasn't and found out the hard way

Send a letter or e-mail to USA Boxing complaining about it. The more people let them know that they need to change it ASAP, the more likely it is that we will get decent sports accident insurance coverage that actually provides some coverage.

[mtptl77]

During the meeting, USA Boxing made a request for a loan to the entities in the amount of $500,000. USA Boxing representatives Tom Virgets, Michael Martino and Joe Higgins presented information that stated USA Boxing would be at risk of failing as the National Governing Body if the loan was not made. USA Boxing would not be able to pay the October 1, 2009 and January 1, 2010 insurance premiums, which would put USA Boxing out of business. The Foundation and USOC requested additional information and deliverables (supporting documents) with deadlines. USA accepted the challenge and the meeting was adjourned.

On September 28, the Foundation conducted a Trustee conference call. The Foundation agreed to loan USA Boxing $300,000 with the following conditions:

1. The payments constitute loans to USA Boxing and shall be repaid to the Foundation in equal annual installments of $50,000 without interest, the first payment to be made on or before December 31, 2010, said payments shall be in addition to the monies to be paid to the Foundation pursuant to the Settlement Agreement between the parties dated June 12, 2009.

2. USA Boxing shall execute documents satisfactory to the Foundation memorializing the loans from the Foundation to USA Boxing; Payment of the insurance premiums due after October 1, 2009 and on or before January 1, 2010 are conditioned upon the following which must first occur:
* USA Boxing provides for increased revenue from its membership and other sources such as the United States Olympic Committee, exclusive of the Foundation, sufficient to balance its budget and repay the monies owed to the Foundation in 2010 and thereafter;
* USA Boxing considers governance changes to provide membership with a voice in the governance of USA Boxing through the selection of one or more directors or other such measures.

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