Medical Payments (MedPay) Insurance is a special type of insurance that helps to cover your medical bills in an accident regardless of who is at fault. These payments are there to help you and any passengers in your car get the medical assistance needed to recover from an accident or auto-related injury. Not all insurance companies offer MedPay and it’s usually added as an additional benefit that you have to pay for. Most MedPay coverage limits are fairly low so it’s not uncommon to receive between $1,000 to $5,000 in coverage on a single policy.
How MedPay Helps Insurers
While policies differ, Med Pay will generally cover your medical expenses up to your coverage limit when you’ve been involved in any type of accident. This includes walking, riding a bicycle, public transportation, or taking a trip in your friend’s car. No matter where the accident occurs, you’re typically covered under your MedPay policy. Additionally, the policy usually doesn’t come with a deductible or a co-pay so your treatments are often completely covered.
Do I Need MedPay?
The cost of Med Pay is often nominal and will typically only add a couple dollars a month to your insurance policy. It’s not a required coverage, so you don’t have to maintain MedPay coverage to legally drive. Many people mistakenly believe that because they have health insurance, they don’t need MedPay.
Many health insurance policies have strict limits on the amount they will cover in the event of an accident. Additionally, if you find yourself in need of care while waiting for an insurance settlement, your MedPay coverage ensures that you’ll get the help you need. The premium for Med Pay is so small and the benefits so numerous that it doesn’t make sense to not include Med Pay on your policy.
What MedPay Covers
Med Pay will cover treatment that your health insurance might not touch. Ambulance fees, dental care, chiropractic care, dental, physical therapy and funeral expenses are all typically covered under the policy. Med Pay can even kick in and pay the copay on your personal injury protection policy if you live in a no-fault state.
If you’re ever in an accident, a single $10,000 limit policy would more than pay for itself even if you ever find yourself in need of the coverage. According to Bankrate.com, a $10,000 dollar MedPay policy often costs less than $20 per year.
Suffice to say, this is one type of insurance that if you need it, it will probably pay for itself.
Restrictions With Med Pay
If you receive a settlement from your insurance company, they will likely deduct the MedPay benefit from your final award. In some cases, you might also need to get an personal injury lawyer can count on involved if the insurance company deems that you no longer need MedPay coverage to cover your medical treatment. This can occur if you’re involved in physical therapy or another prolonged form of therapy that would stretch the limits of the policy.
The insurance company may also request to review any medical reports regarding prolonged, long-term use of the coverage. Generally, your treatment provider will provide the necessary documentation to process your claim and continue getting treatment. Med Pay is ideally used for immediate emergencies directly resulting from an accident.
Final Considerations
The cost of Med Pay is nominal and can greatly help reduce your financial burden in the event of an accident. Even if you’re expecting a settlement and the other insurance company has admitted fault, it can still take some time to receive your settlement money. In these cases, you’ll likely be grateful that you didn’t decline your extra coverage.
