Of all the struggles that are caused by a serious accident, medical bills may be the hardest to overcome. Many times, you don't know who will pay or where the money will come from for your injuries.
We've written a comprehensive article discussing your financial options after a serious accident. Here's a quick rundown of what you need to know.
Auto or personal health insurance may help
Depending on which state you live in and your insurance policies, your auto insurance may step up to cover your medical bills after a car accident.
If you live in a no-fault state, your auto insurance policy can provide payments for your medical bills. If you live in a fault state, those payments will come from the insurance policy of the one at fault for the accident. With at fault states, there's always the possibility that insurers do not provide adequate funds for your recovery; in this case, you may have to file a suit.
Additionally, personal health coverage could step in to help fill the difference after auto insurance has been used, but this also depends on your state's laws. These funds will not help cover lost time at work or ongoing rehabilitation.
Contingency payments may be possible
If you decide to hire an attorney for your case, they may be able to discuss contingency medical payments with your doctor. This means that your payments will be delayed until you reach a settlement. If this option is possible for your case, your attorney will make sure that your contingency medical payments are included in your settlement.
Personal loans and other funding options
If your attorney cannot delay your medical payments, a personal loan is another option. Our partner Provident Legal Funding can usually offer a cash advance for a personal injury lawsuit within 24 hours. Be sure to shop around and look over the loan's terms carefully before accepting, regardless.
Bankruptcy is another option for wiping out debt, but can have serious financial consequences down the road. Save this as a last resort, and speak with your health care provider if you feel you have run out of options for paying your medical bills. Sometimes exceptions can be made or discounts can be given.
If you've been in an accident, an attorney can help you understand these options for payment as well as investigate other options for you. Before making any large decision concerning funding your medical bills, be sure to seek your attorney's counsel.