Auto insurance and health insurance are very expensive. Premiums for both add up and in these times when money is tight it is not uncommon to look for ways to save some money. However, your options are limited with saving money with health insurance and medical payments coverage.
Most automobile insurance policies offer a type of coverage called Medical Payments often referred to as Med Pay. Depending on the company and how much you want to spend, you can usually purchase it in amounts such as $1,000, $5,000, $10,000, $25,000 or $50,000 per person, per accident. If you are injured in an accident, med pay coverage pays for medical expenses (and funeral costs, if necessary) resulting from the accident for you and for all of your passengers. If you are a passenger riding in someone else’s car or injured while a pedestrian your med pay coverage also pays for you and your family members.
However, if you have health insurance you must submit your medical expenses incurred in an accident, even if you were not at fault, to your health insurance company. Whatever your health insurance company does not pay will be covered by your med pay coverage. Med pay can be a very beneficial coverage if you or a family member are injured in a car accident especially if you have a high deductible or high co-pay health insurance. Of course, if you do not have health insurance then your med pay coverage would be your only source of insurance for paying your medical bills. However, med pay only covers you or a family member if you are injured in a car accident or by a car as a pedestrian.
In Wisconsin, med pay is mandatory. Please check with your insurance agent on how much it costs you to increase your med pay coverage. On the other hand, if you have great insurance coverage with little or no deductible or co-pays then it makes little sense to pay a high premium for increased med pay coverage. Again, assess your own situation and talk to your insurance agent.
If you or a family member are injured in a car accident or an accident of any kind caused by the negligence of another, paying for medical expenses and dealing with insurance companies can be confusing, complicated and time consuming. We have been helping injured victims and their families deal through the complicated maze of insurance claims for 27 years and offer everyone a no cost, no obligation initial consultation. Should you decide to retain our services we represent people on a contingency fee basis which means you do not pay for our fees unless and until there is a recovery. Should you or a family member have questions about med pay because of being in an accident or have been injured as a result of the negligence of another please do not hesitate to contact us and schedule your free, no cost, no obligation consultation.