After being involved in a car accident, there are two things you are concerned about: how you will recover from your injuries, and how you will pay for your recovery. There is no such thing as an inexpensive car accident. Even a simple fender bender accident can result in thousands of dollars in medical expenses.
While the responsibility of paying your medical bills falls on you, you do not have to pay out of pocket. You have the option of seeking compensation after your accident, especially if the other driver is at fault for your car accident.
How are your medical bills covered after a Memphis car accident?
There are two ways you can seek compensation for your medical bills: through a personal injury claim or an out-of-court settlement. You have the right to file a personal injury lawsuit against the irresponsible driver who caused your car accident. In this lawsuit, you can list your medical bills as the damages you are seeking from the driver. However, it is difficult to determine how long the personal injury lawsuit will take to resolve. While you are in the process of pursuing your lawsuit, you can rely on your health insurance provider or your insurance company to cover your medical expenses.
The other option you have for seeking compensation is to accept an out-of-court settlement from the other driver’s insurance company. When the chances of their client being proven negligent are high, insurance companies will decide to offer you a car accident settlement as compensation for your medical expenses and other damages surrounding your accident. Because many car accident victims want to receive compensation as soon as possible, they choose the settlement option. However, you are not entitled to immediate compensation once you accept the settlement offer. There is a process that you must endure before your medical bills are paid.
How are medical bills paid through an insurance settlement?
Once you accept a settlement offer, your compensation will be placed into a trust. This is because there are multiple parties entitled to portions of your settlement. Depending on the circumstances of your accident, some of the parties that must be paid from your settlement include:
- Your insurance company
- Your healthcare provider
- Your car accident attorneys
Your insurance company
Prior to receiving your settlement, it is likely that your insurance company covered the costs of your medical expenses following your accident. Tennessee drivers carry several types of insurance policy coverages that can cover the costs of your medical bills. Some of these coverages include Medical Payment Coverage (Med Pay) and Personal Injury Protection (PIP) coverage. If you relied on these types of coverages to cover your medical bills until you received your compensation, your insurance company will want to be reimbursed for your medical expenses. This is why they will request to receive a portion of your settlement offer.
Your healthcare provider
The next party that will request reimbursement for your medical bills is your healthcare provider. This depends on the amount of your insurance policies and whether it is enough to cover your medical expenses. When your medical bills exceed your insurance policy limits, your healthcare provider will cover the cost of your medical expenses. If you find yourself in this position, your healthcare provider will also want to be reimbursed for any expenses they covered after your accident.
Your Memphis car accident attorneys
The next party that needs to be reimbursed from your settlement offer is your car accident attorneys. Many car accident attorneys offer to represent their clients through a contingency fee basis. A contingency fee basis is a situation where an attorney will not charge their client their regular fees unless they are successful in their lawsuit. Once your claim results in a settlement offer or a verdict, there is a portion of your compensation that must be paid to your car accident attorneys.
Reason for a settlement
The purpose of receiving compensation for your personal injury claim is to “make you whole again.” Part of this objective is to reimburse you for the compensation you deserve for your car accident. If you had to rely on your insurance company or your healthcare provider to pay for your medical expenses so you would not have to pay for your expenses out of pocket, you are required to reimburse those parties for your medical expenses. Once your medical expenses are covered, you are entitled to whatever compensation is remaining.
Other types of compensation
Once your settlement has been awarded, the expenses for your medical bills, attorneys’ fees, and other accident-related expenses will be deducted from your settlement. However, that does not mean that you will receive only a small portion of your settlement. Compensation you may be eligible for includes:
- Lost income. Any earnings that you missed out on because you had to take off from work due to your accident can be awarded to you through your settlement.
- Pain and suffering. The compensation that you receive for any physical and mental pain the accident has caused you can be compensated through your settlement.
- Property damage. If your car or other personal property experienced significant damage in your accident, you can be awarded compensation for any repairs you will have to pay for, including compensation for purchasing a new vehicle.
The car accident attorneys at Bailey & Greer, PLLC can represent you and your family in your time of need. We understand how overwhelming it can be to pursue a lawsuit after you or your loved one have been seriously injured or killed in a car accident. We promise to represent you and your loved one with care, compassion, and capability. Call our office at 901-475-7434, or submit our contact form to schedule a meeting with one of our car accident lawyers today. We represent clients throughout Memphis and Jackson.
Since graduating magna cum laude in 2005 from the University of Memphis School of Law, Thomas has helped make a difference in the lives of victims of serious personal injury, wrongful death, and professional negligence. Thomas has extensive trial experience in both state and federal court. Among other victories in the courtroom, Thomas obtained several impressive jury verdicts and settlements
Read more about Thomas R. Greer