What Happens If My Medical Bills Are Higher Than the Insurance Coverage?

If your medical bills are higher than the available insurance coverage after a serious accident, you may wonder who will pay the remaining costs. Understanding policy limits, other potential sources of compensation, future medical expenses, and your own uninsured or underinsured motorist coverage may help you make informed decisions before accepting a settlement.

A serious accident can leave you facing financial problems that feel impossible to solve.  Missing work, dealing with painful injuries, and then you begin receiving medical bills.

What happens if the medical bills are not covered by available insurance.  If your medical expenses are higher than the available coverage,who will pay the remaining bill?

That situation can be especially stressful because your medical care may not be finished. You may need additional treatment, rehabilitation, medication, follow-up appointments, or other care. Simply looking at the bills you have today may not show the full financial impact of your injuries.

Understanding Insurance Policy Limits

Every insurance policy liability limit caps how much the insurer is obligated under the insurance contract. For example, if the at-fault driver’s bodily injury liability coverage has a $50,000 limit, then the insurer only has to pay up to the limits of $50,000.  However, it does not necessarily mean the insurer will pay every dollar of your losses. Other injured people may have claims against the same policy, and the amount available to you may depend on the circumstances of how many people are injured and the nature and extent of their injuries and losses.

Your medical bills may reach or exceed the policy limit before you have completed treatment. If that happens, then accepting an insurance settlement without first understanding your total losses could leave you responsible for expenses that arise later.

You may also have losses beyond medical bills. Lost income, reduced earning ability, rehabilitation costs, and other accident-related expenses may need to be considered. The value of your claim may depend on the full effect your injuries have had and may continue to have on your life.

Looking for Other Sources of Compensation

If the at-fault driver’s insurance does not provide enough coverage, then you should investigate your own coverage for underinsured motorist.  You may have options under your own policy to help compensate you for your injuries and losses.

If there are multiple persons at-fault, then there may be multiple policies of insurance.

Before accepting a settlement, you may want to identify every potentially available source of compensation. Once you sign a settlement agreement, you risk or forfeit other options of recovery, like the at-fault parties personal assets.

How Uninsured and Underinsured Motorist Coverage May Help

Your own auto insurance policy may include uninsured motorist or underinsured motorist coverage. These types of coverage may provide another potential source of compensation if the driver who caused your accident has no insurance or does not have enough insurance to cover your losses.

The rules governing this coverage can vary based on your policy and the circumstances of your accident. Your coverage may have its own limits, conditions, and requirements. You may also need to follow specific procedures when making a claim.

That is why it can be helpful to review your policy before assuming you have no other options. An experienced attorney may be able to examine the available coverage and help you understand whether an underinsured or uninsured motorist claim may apply.

Why Future Medical Costs Matter

One of the biggest concerns with a serious injury claim is that your current medical bills may represent only part of what you will ultimately need to spend. You may have months or years of treatment ahead of you, depending on the nature and severity of your injuries.

Future expenses may include continued medical care, physical therapy, medications, medical equipment, follow-up visits, or additional procedures. Your injuries may also affect your ability to work or perform certain activities. Accurately evaluating these potential losses may help you avoid settling a claim based only on bills you have already received.

Your medical records and information from your healthcare providers may help establish the treatment you have received and the care you may need in the future. Other financial information may also help show how your injuries have affected your income and expenses.

You may also need to consider how medical bills are being handled while your claim is pending.

Your health insurance may initially pay some expenses, but that does not necessarily resolve the issue permanently. Depending on the circumstances, an insurer or healthcare provider may have rights involving reimbursement from a settlement. Understanding those obligations before agreeing to a settlement may help you avoid unexpected financial problems later.

Keeping records of accident-related expenses can also help. Save medical bills, receipts, mileage records, wage information, and other documentation connected to your injuries.

Getting Help Before You Settle

When your medical bills are higher than the available insurance coverage, you may feel pressure to accept whatever settlement an insurer offers. You may need money for treatment and other expenses, but rushing into an agreement could make it harder to address losses that have not yet been fully evaluated.

You may have options that are not immediately obvious. An experienced personal injury attorney can review your accident, insurance policies, medical expenses, lost income, and other losses to help you understand what compensation you may be able to pursue. The specific options available to you will depend on the facts of your case and the applicable insurance coverage.

If you are dealing with medical bills that may exceed the available insurance coverage, then you do not have to figure out your legal options alone. Contact Arthur Law Firm right away at (419) 782-9881 for a free consultation to discuss your legal options. Acting before you settle may give you an opportunity to better understand your available coverage, potential sources of compensation, and future financial needs.