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What If My Medical Bills Are More Than My Settlement?
Getting into an accident is stressful enough, but when the medical bills start stacking up, it can start to feel like too much. If you’re wondering, “What happens if my settlement isn’t enough to cover everything?” you’re not alone. Many people in New York face this exact situation. The good news is you have options.
Here’s what you need to know about handling medical expenses after a personal injury settlement so you’re not left paying out of pocket for someone else’s mistake.
Do I Have to Pay Medical Bills Out of My Settlement?
One of the most common misconceptions is that you have to pay all your medical bills directly from your settlement money, but that’s not always true.
How Health Insurance Handles Medical Bills
In most cases, your health insurance covers your medical expenses upfront, so you can get the care you need right away. However, if you receive a settlement, your insurance company may ask for reimbursement through a process called subrogation. A personal injury attorney can help negotiate how much you actually have to pay back.
If You Don't Have Health Insurance
If you don’t have health insurance, a lot of hospitals and clinics offer payment plans or other flexible options to help patients manage medical costs.
How Can I Pay My Bills If My Settlement Is Too Low?
If your settlement falls short of covering your medical expenses, there are still options to manage the costs. Many healthcare providers are willing to negotiate lower bills or offer discounts, especially if you’re facing financial hardship. Setting up a payment plan can also help by breaking your bills into smaller, more manageable installments.
Additionally, you may be able to file a claim with your own insurance, such as personal injury protection (PIP) or underinsured motorist coverage, to help cover the remaining costs.
Personal Injury Protection (PIP) Insurance
If you were injured in a car accident in New York, you’re covered by No-Fault insurance, also known as Personal Injury Protection (PIP); this insurance pays for medical bills and lost wages up to $50,000 per person, regardless of who was at fault for the accident. That means you don’t have to use your private health insurance or pay out of pocket for medical expenses related to the crash.
If your medical expenses exceed the $50,000 PIP limit, you may be able to seek additional compensation through the at-fault driver’s insurance or underinsured motorist coverage. A personal injury attorney can help determine the best course of action to cover all your expenses.
When Will You Get Your Settlement?
Once negotiations are complete, most people receive their settlement within a year of the accident, though complicated cases can take longer.
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