What is Medical Payments Coverage and is it expensive to have?
Medical Payments coverage on your car insurance policy provides you money to pay any doctor or hospital bill you incur because you were injured in a car wreck. The great thing about Medical Payments coverage is that it will cover your medical expenses related to a car wreck no matter if the car wreck was your fault or not. Medical Payments coverage is relatively cheap. The prices obviously differ depending on the driver and the car insurance company, but for example, $50,000.00 worth of Medical Payments coverage costs around $175.00 a year. In today's society, when more and more people do not have health insurance, Medical Payments coverage can at least give you piece of mind that if you are in a car wreck, you can afford to treat your injuries and not have to worry so much about the cost.
Do I need Medical Payments coverage if I already have health insurance?
Yes you should. First Medical Payments coverage has no copay. It is common for people to have at least $20 copays with every medical visit they have. Similarly, it is also usual for a person involved in a car wreck to attend a medical provider such as a hospital, doctor or physical therapist at least ten times following a relatively minor wreck. With those visits you are already spending more on copays than Medical Payments coverage would cost you. Second, there is no deductible with Medical Payments Coverage. Often times the amount of treatment required for a minor car wreck will fall under a person's deductible, meaning that all the treatment will come out-of-pocket. The final reason is reimbursement. Reimbursement issues under Medical Payments Coverage are far easier to handle than reimbursement under traditional health insurance.