In today’s economy lots of people are looking for ways to save money. In these times, lots of people look for cheaper monthly auto insurance payments. Lots of states don’t require “medpay,” or medical coverage. Many drivers mistakenly believe that because they have health insurance, medpay coverage is redundant. These drivers are wrong.
Medpay covers medical bills if you are injured in an accident, regardless of who is at fault. This covers you and your passengers, and also “follows” you. So you can also utilize Medpay if you are in another vehicle or a pedestrian. Medpay can also cover costs like funeral expenses, chiropractic treatment or even–if need be–potentially expensive dental work.
In Colorado, unless you explicitly deny coverage, the minimum is $5,000.00.
If you are in an accident that was caused by someone else, their auto insurance will not pay acar accident settlement until all of your treatment is complete–this could be years after you begin to receive health care bills!
Medpay will begin paying your medical bills from the moment you begin to incur them–the ambulance ride to the hospital.
Relationship to Health Insurance
Many feel that if they have health insurance, Medpay is unnecessary. However, as anyone who has experienced a car accident lawsuit can tell you, medical treatment is expensive. the cushion of Medpay payments can help relieve the stress of climbing co-pays and costly deductibles from day one.
Treatments like chiropractic treatment, medical massage therapy, acupuncture and even physical therapy are are rarely covered by most health insurance plans. These treatments are also generally the first step in trying to heal after an injury. Medpay will typically cover these treatments, allowing you to actually heal–instead of worrying about paying your medical providers.
Car Accident Settlements and Benefits of Medpay
Medpay can increase the amount of your car accident settlement.
In Colorado, the insurance company of the person who is at fault is not privy to details of your personal coverage.
When seeking car accident settlements, an attorney will send the insurance adjuster all of the bills you incurred due to the car accident. These bills will not show if Medpay has covered any or all of those medical expenses.
This means that the at-fault-party might cover and pay for $5,000.00 of bills that are already paid.
That can mean to a larger amount in your pocket at the end of your car accident lawsuit or car accident settlement.
As little as $20.00 a year added to your premium can end up awarding you thousands of dollars of coverage. If you want to properly protect you and your family from rising medical costs, the stress of paying for treatment while injured, Medpay Coverage is something you will want to have on your auto insurance policy.
Read more about accident claims HERE