Did you know that having Medical Payments coverage will assist you and your passengers to pay for some of the medical treatment you may need when injured in an automobile accident?
Medical Payments coverage (also known as Med Pay) will make it possible for you to obtain reimbursement of some of the medical treatment for you and your passengers involved in an automobile accident. This would also include reimbursement for any out of pocket expenses such as medications, medical supplies, etc. There is usually a limit to the amount of medical bills that will be paid anywhere from $1,000.00, $5,000.00, or even up to and over $10,000.00 per person per accident depending upon the insurance company. Additionally, there is some medical payments coverage that is considered “excess” meaning that you will need to first submit any medical bills to your health insurance for payment. Whatever the health insurance doesn’t pay then the balance can be submitted under the medical payments coverage.
Once you have filed a 3rd party claim (claim against the responsible party’s insurance company), you will be required to reimburse to your insurance company from the 3rd party settlement the amount of total payment issued under the medical payments provision of your policy. Reimbursement occurs once the claim has settled. There are some medical payments coverage that do not require reimbursement. This would be the ideal coverage to obtain but it depends on the insurance company. Make sure to ask your agent for “med pay with no reimbursement”.
