Paying Medical Bills Before Receiving Personal Injury Compensation
Auto accident injuries are not only painful physically, but also financially.
In most situations, you'll either have to pay out of your pocket or seek other financial options while waiting for a compensation check from the overseeing auto insurance company because unlike an accident claim for vehicle damage, injury claims aren't as black-and-white. They tend to require longer waits for settlement while short- and long-term medical costs are determined.
Handling Medical Bills While Waiting for Personal Injury Compensation
If money is tight, you're in a Catch-22 situation―you need the auto insurance settlement, but if you accept the first offer you'll risk cutting yourself off from financial compensation should any long-term injury effects surface.
Regardless, to help pay the medical bills and other personal injury expenses (which can be pricey) you should lean on your health insurance provider. In most cases, you'll receive fast coverage. Depending on your health insurance carrier, however, you may be asked to provide compensation once your injury claim is resolved.
In addition, if you're covered by Medicare or Medicaid, you should explore using either one of these options as well.
If, however, you lack any form of health insurance coverage, you'll need to pay out of your own pocket. If you do, be sure to document every medical-related expense. This includes:
- Emergency room visits.
- Over-the-counter medicines
- Hospital stays.
- Physical therapy.
- Ambulance expenses.
- Therapy sessions.
- Transportation costs to and from medical care.
If you find it difficult to cover your injury costs, inquire with your medical provider about the possibility of placing a hold on your account. Under this "hold agreement," your medical provider will not notify collection agencies, if you agree to pay your medical bills as soon as your injury claim is settled.
In extreme cases involving injury settlement lawsuits, you could apply for a car accident settlement loan. As the name implies, this loan can be used to cover your medical bills until a settlement is reached.
Additional Car Insurance Information
Need help in deciphering personal injury auto insurance coverage? Are you in the dark on your state's car insurance requirements? For answers to all of your insurance questions, visit our Insurance Center.
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