Dr.G
01-17-2008, 12:43 AM
This is a topic I find myself discussing quite often- whether it be in the office with clients, out at public speaking engagements, or even at times here on IA. Considering this is an automotive forum (and after noticing several recently made threads regarding accidents members were in) I thought this would be a great platform to offer some friendly advice to you all, particularly to those of you who don't have med-pay or have no clue as to what it is. I'm hopeful that what I'm about to cover will be of some interest to you all :goodjob:
So what it is med-pay?
When purchasing automobile insurance for yourself, you may seek to include several additional types of coverage other than liability insurance. One of these types of available coverage is called medical payments coverage, or med-pay. In the State of Georgia, med-pay is optional, whereas in some states it is required by law. In the unfortunate event you are involved in an accident, med-pay coverage will pay for your and your passengers' medical expenses after an accident- regardless of who is at fault. Med-pay coverage may also cover policyholders and their family members when in others' vehicles, or when policyholders and their family members are on foot and hit by a car. Covered costs are subject to the limits you choose when you buy your auto insurance policy.
Med-pay covers reasonable and necessary expenses for medical, surgical, dental, and chiropractic treatment. It may also cover hospitalizations, ambulance services, X-rays, nursing services, prosthetic devices and funeral services. Med-pay should not be regarded as a substitute for broader health insurance, and few companies are willing to sell more than $25,000 worth of med-pay coverage – something to keep in mind when deciding on what to get. However, if your health insurance plan requires you to pay a deductible, med-pay coverage may help pay it. This coverage can also help pay for items often not covered by your health plan, such as dental treatment, professional nursing services, prostheses, and funeral services. If covering a high health plan deductible or paying for these additional treatments would be valuable for you, select a medical payments coverage amount that reflects your needs. My recommendation, get as much as you can afford!! I recommend at minimum you should carry $5-10,000 worth of med-pay coverage. Contact your insurer and you will likely find for this amount of optional coverage it will only run you an additional $20-40 a month!! If you can't afford that much coverage, then get less, but get something!
In summary, there is no Georgia law that requires the responsible party’s insurance company [the liability carrier] to pay your medical bills. In Georgia, the bills first have to go through an optional automobile coverage you can buy [and should have] called medical payments coverage [med pay]. If you don’t have this coverage you can turn to any other health insurance you have — with it’s built in deductibles, copayments, exclusions, and restrictions on who you can see, how often, and for how long :gay:
What the liability carrier will do is tell you to let them know when you are through with treatment; then they will offer you a lump sum settlement. Many times what is offered is less than the sum of your medical bills, which could exceed the policy limits the responsible driver had in effect at the time of the accident. Then of course there's the possibility the person that hit you may not even have insurance :doh: ...see where this is going? :cry:
My advice: If you are unsure as to whether or not you have med-pay coverage, call your auto insurance agent and ask. If you do, great, determine how much and what you're paying for that amount and if you can afford to increase it- that may not be a bad idea. If you don't have it, ask how much it would be to add it. Most often it's sold in increments of thousands, generally starting at $2k or $5k, get what you think you can afford. Note: Emergency room care and hospitalization with fractures or worse can go through tens of thousands in coverage easily!!
So what it is med-pay?
When purchasing automobile insurance for yourself, you may seek to include several additional types of coverage other than liability insurance. One of these types of available coverage is called medical payments coverage, or med-pay. In the State of Georgia, med-pay is optional, whereas in some states it is required by law. In the unfortunate event you are involved in an accident, med-pay coverage will pay for your and your passengers' medical expenses after an accident- regardless of who is at fault. Med-pay coverage may also cover policyholders and their family members when in others' vehicles, or when policyholders and their family members are on foot and hit by a car. Covered costs are subject to the limits you choose when you buy your auto insurance policy.
Med-pay covers reasonable and necessary expenses for medical, surgical, dental, and chiropractic treatment. It may also cover hospitalizations, ambulance services, X-rays, nursing services, prosthetic devices and funeral services. Med-pay should not be regarded as a substitute for broader health insurance, and few companies are willing to sell more than $25,000 worth of med-pay coverage – something to keep in mind when deciding on what to get. However, if your health insurance plan requires you to pay a deductible, med-pay coverage may help pay it. This coverage can also help pay for items often not covered by your health plan, such as dental treatment, professional nursing services, prostheses, and funeral services. If covering a high health plan deductible or paying for these additional treatments would be valuable for you, select a medical payments coverage amount that reflects your needs. My recommendation, get as much as you can afford!! I recommend at minimum you should carry $5-10,000 worth of med-pay coverage. Contact your insurer and you will likely find for this amount of optional coverage it will only run you an additional $20-40 a month!! If you can't afford that much coverage, then get less, but get something!
In summary, there is no Georgia law that requires the responsible party’s insurance company [the liability carrier] to pay your medical bills. In Georgia, the bills first have to go through an optional automobile coverage you can buy [and should have] called medical payments coverage [med pay]. If you don’t have this coverage you can turn to any other health insurance you have — with it’s built in deductibles, copayments, exclusions, and restrictions on who you can see, how often, and for how long :gay:
What the liability carrier will do is tell you to let them know when you are through with treatment; then they will offer you a lump sum settlement. Many times what is offered is less than the sum of your medical bills, which could exceed the policy limits the responsible driver had in effect at the time of the accident. Then of course there's the possibility the person that hit you may not even have insurance :doh: ...see where this is going? :cry:
My advice: If you are unsure as to whether or not you have med-pay coverage, call your auto insurance agent and ask. If you do, great, determine how much and what you're paying for that amount and if you can afford to increase it- that may not be a bad idea. If you don't have it, ask how much it would be to add it. Most often it's sold in increments of thousands, generally starting at $2k or $5k, get what you think you can afford. Note: Emergency room care and hospitalization with fractures or worse can go through tens of thousands in coverage easily!!