It isn’t Required, so Why Buy Medical Payments Coverage?
Auto insurance providers offer optional add-on Medical Payments Coverage. It covers your medical bills following a traffic collision. These plans also cover your family and passengers who are injured in an accident. This is true regardless of who is at fault.
Medical Payments Coverage plans are commonly referred to as “Med Pay”. Med Pay will cover your medical bills that result from an accident, up to the policy limits. Policy limits range anywhere from $1,000 and $2,000 all the way up to $10,000. These policies are generally affordable and only add a few more dollars to your auto insurance bill each month.
Missouri and Illinois to not require drivers to purchase Med Pay. However, it offers some distinct advantages in the case of an automobile accident. Typical “full coverage” auto insurance policies do not include Med Pay. I recommend exploring Med Pay options with your car insurance provider as soon as possible.
How Medical Payments Coverage Eases Your Costs and Offers Peace of Mind
With Med Pay, you can submit all your medical bills to your medical payments coverage right away. This is true regardless of who is at fault in the accident.
When health insurance providers pay your medical bills, they typically pay at a lower, discounted rate. This is not the case with Med Pay. This offers another important advantage to the policyholder because the other driver’s attorney may argue that your discounted bills more accurately reflect the costs of your injuries, potentially lowering your settlement amount. Using Med Pay, in this case, can increase your potential payout.
In Missouri, it is illegal for medical payments coverage providers to ask for reimbursement after you have received your settlement. This means you will keep more of your settlement money. By contrast, health insurance providers will almost always demand reimbursement once you have received your settlement.
If the other driver was at fault, you may think it would be fairer for their liability insurance to cover your medical costs. However, it is to your advantage to use Med Pay. It allows you to pay your bills as you receive them. Whereas, the other driver’s liability insurance plan will only reimburse those bills once a settlement has been reached.
Approach Your Personal Injury Case with Knowledgeable Legal Representation
Personal injury cases can become incredibly complex. I offer years of case experience helping people navigate these cases and secure settlements that cover their costs and help them get their life back to normal.
The landscape of medical bills, health insurance, car insurance, and medical payments coverage can become confusing, especially because you don’t deal with this kind of thing on a regular basis. I do. I offer my clients the guidance and legal expertise they need to make it through these difficult times.
If you have been injured in an automobile accident, you should seek legal representation as soon as possible. You can obtain a free case evaluation by calling 636-530-1515 or by filling out a contact form.