Medical bills can grow quickly following a motor vehicle accident and it is necessary for individuals to choose the best method to cover these expenses. A number of factors can impact the way medical bills should be handled after a crash. These include, but are not limited to, the individual’s liability for the crash and any existing medical coverage.
Handling Medical Bills When the Injured Party Is Not At-Fault
Motorists should first contact their automobile insurance provider and their health insurance provider. It is also advisable to contact the other motorist’s insurance company to start the process of filing a claim. These steps will start the investigative process. Once the investigation is complete, the injured party can submit their medical bills to the responsible insurance party for payment.
In most cases, it is advisable to request that the individual’s health insurance provider cover the medical bills. When a settlement is achieved or compensation recovered from the at-fault driver’s automobile insurance provider, these funds can be forwarded directly to the health insurance company.
When the At-Fault Motorist Is Uninsured/Underinsured
Motorists are responsible for the costs associated with the injuries they cause even when they don’t carry sufficient insurance coverage. In such cases, it may be necessary to file a lawsuit against the individual to recover the cost of medical treatment. However, in many cases, drivers who do not carry sufficient insurance coverage do not have significant assets to pursue this purpose. As such, it is advisable for motorists to add sufficient underinsured/uninsured motorist coverage to their policy before an accident occurs.
Using Hold Agreements & Loans
Medical bills can pile up rapidly and can quickly overwhelm the injured party’s ability to pay. When this happens, individuals can request a hold agreement from the medical care provider. This agreement stipulates that the medical provider won’t pursue collection actions against the individual until such time as a settlement is reached and funds are received from the insurance company.
Similarly, individuals can request a car accident settlement loan. These non-recourse loans are not dependent on credit score and income, but rather on the facts of the case. Individuals are only required to pay these loans back if they prevail in their lawsuit. When the individual prevails and funds are received, the loan is repaid with interest to the lender the same as any other type of loan.