The following information as provided by Greene & Phillips:
There are few things in life more confusing than insurance, especially trying to figure out your own after you’ve been involved in a car wreck. David Greene from Greene & Phillips is here to help answer some questions about today’s topic, which is a type of insurance called Med pay.
David, what is exactly is med pay?
Well, medpay is a part of your auto insurance that pays for medical bills after you’ve been in an accident. It sounds great, but there are actually very few times you would actually want to use your med pay. Ideally, you would want to use your health insurance for any trips to the emergency room or urgent care after your wreck.
Why is using health insurance better than using med pay?
The big reason is that it can mean you will likely get more money from any car wreck case you have. It’s a bit complicated, and it’s important to get a lawyer involved if you find yourself in a situation like this, but your health insurance will pay the hospital less than the medpay will, and in the process of your settlement, that discounted rate means you end up with more money in your pocket.
Does med pay cost extra on your insurance premiums?
It can cost anywhere from $10-20 every 6 months, and as long as you have good health insurance and live in Alabama, it’s really something you probably don’t need. That money would be much better served increasing your uninsured motorist levels.
Can contacting your insurance to use your med pay end up hurting your case?
Well, we tell people all the time not to talk to the insurance company before you consult with a lawyer. When you start to get your own insurance involved in the case, and you start answering their questions, they are trained to ask leading questions that can sometimes negatively impact your case long term. Many times the other driver will not have enough insurance to cover your injuries, so your own insurance company will be trying to hedge its own interests and keep from having to pay you all that it owes you.
Are there any instances where you may want to have med pay?
There are certain states that Medpay can beneficial. Also, if you do not have health insurance, or you have a very high deductible on your health insurance, it can be good to have med pay.
That sounds like a great money saving tip that could end up saving you a major headache if something bad happens. How can our viewers learn more?
They can come by our office any time. We can also be reached by phone at 300-2000, or visit greenephillips.com.