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Ways to Pay Medical Bills While Waiting on an Insurance Settlement

January 27, 2023

If you get injured in an accident, your medical bills will most likely start appearing before you resolve a personal injury claim and receive a settlement check. It is the nature of most personal injury cases to take longer than a hospital does to process your treatments and send you a bill. Luckily, there are systems in place to allow victims to pay for their medical care while they wait for insurance settlements to arrive.

Ways to Pay Medical Bills While Waiting on an Insurance Settlement

Health Insurance

First, you may be able to turn to your health insurance for medical bill coverage. Whether or not you caused the accident, your health insurance will cover the costs of your care according to the limits and terms of your policy. If an investigation finds that you were not at fault for the accident, your health insurance company can seek reimbursement from the insurance provider of the at-fault party. This will prevent you from having to pay out of pocket for your medical care while you wait for a settlement.

Car Insurance

Another first-party insurance option could be your car insurance provider. Although it is not a legal requirement, drivers in Colorado have the option to purchase medical pay and/or personal injury protection (PIP) car insurance coverage. These are two types of insurance that will pay for the policyholder’s injuries and medical care after an accident, regardless of fault. Find out if you have this type of coverage by contacting your automobile insurance provider after getting injured in a car accident.

Insurance Subrogation

If one of your own insurance companies pays for your medical bills after an accident that is later found to be the fault of another person, your insurance carrier can use subrogation to get reimbursed. Insurance subrogation means that one insurance company stands in the place of another. If another person’s insurer ultimately has to pay for your medical costs, but your insurer covered the costs upfront, your insurance company can file a subrogation claim with the liable party’s insurer to recuperate what it spent on your care.

Workers’ Compensation Insurance

You may be eligible for workers’ compensation insurance benefits in Colorado to pay for your medical bills if you suffered an injury during the course and scope of your employment. Any employer that has one or more employees in Colorado is legally required to carry workers’ compensation insurance. This insurance provides no-fault benefits to all workers who are injured on the job, including coverage for past and future necessary medical expenses.

A Disability Claim

Another potential source of compensation to help you pay for medical bills while you wait is disability benefits. You may qualify for benefits through Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI), for example, from the Social Security Administration. You may also qualify for state-operated programs to help cover your required medical care and other disability costs.

A Letter of Protection

A letter of protection is a document that can be sent to your medical care provider by your Denver injury attorney to guarantee payment for medical treatment from any future settlement or judgment award obtained for your case. This letter lets your doctor know that he or she will be reimbursed for covering your care and treatments after you receive a financial settlement or verdict from a defendant.

A letter of protection allows you to pay for your medical care initially after an accident on credit with the medical provider. If your attorney recovers compensation for your case, a portion of it will be sent directly to the medical provider to settle your debt. If there is no recovery, you will still be responsible for paying for the medical bills yourself. To discuss all the ways to pay your medical bills while you wait for a personal injury settlement, contact Fang Law Firm for a free consultation.