 WHY are insurance companies SO screwy??? |
They're so...so...ugh, I hate them and everything about how they work. So shady and selfish.
Additional Details
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Autonomous & Anonymous | How do I pay for my medical expenses before I settle? |
I was in a bicycle accident about two months ago. I was riding my bike and some joker plowed right into me. The accident was 100% his fault. I sustained a hairline fracture of my left arm. The other guy's insurance company is pressuring me settle, but I don't want to yet because the bills are still coming in and I won't know the final cost until I receive all the bills. Also I have a pain in my knee since the accident that still won't go away. So I still need to seek medical advice on that too. In the meantime, how do I pay these enormous medical bills that keep coming in. I do have some savings, but it's quickly starting to run out. So how do I pay for this when my savings run dry (if that happens)? Do I take out a loan to pay for it? Do I just pay with a credit card and just pay the minimum each month and expect the insurance company to pay all of the interest charges? I really am in a bind here. Any information you guys could give me would be very much appreciated. Thank You |
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mbrcatz
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You will have to cut into savings, or make a payment plan. I would NOT borrow money to pay this. Why pay interest on top of the debt? Doesn't make sense. Credit cards ARE borrowing money.
The insruance company will NOT be liable - or the guy who hit you - for any INTEREST payments. You're on your own for that.
Keep in mind, the insurance company is NEVER going to pay you more than the guy's policy limit. |
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Jifr
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::scratching head::
um...if this is a liability claim....do the medical providers know that?
You know they can setup a lien against your settlement and get their bills paid out of that when you settle, right?
...and then they will stop harassing you in the mean time. It really helps get them off of your back.
Also - did you have health insurance?! You can submit bills under your health insurance. Why haven't they paid them to date (if you have health insurance)? (You are entitled to health insurance benefits regardless of who is at fault)
If you are still injured - you don't have to settle. Have you TOLD them that you still have unresolved injuries?
You have solutions other than those you mentioned in your questions so.......consider some other options.
Good luck. Hope you feel better soon.
~jifr! |
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hotmomma33
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If you have health insurance I would turn all past bills related to the accident over to your health insurance and any future visits I would have filed on my health insurance. All you would be responsible for would be any co-pays. If you do not have health insurance, then I would suggest calling your providers and setting any balances up on a monthly payment plan. Even if it's $15.00 to $20.00 per month. You could put the bills on your credit card however, don't expect the insurance co. to pay the interest...they are not obligated in that form. I would not accept any settlement from insurance company until you have been released from your doctor. If you are still having (pain) then definately seek treatment. If you have a PCP, start there. If you are having knee problems, you may want to seek out an orthopedic. At settlement you will be re-imbursed for any out-of-pocket expenses (which include your medical bills). Meaning if you do decide to use your savings to pay the bills, you could always put that money back when receive settlement. Also, if you haven't thought about it, the unpaid/past due medical bills will show up on your credit report and can lower your score. Good luck...and don't let the insurance company make you do/sign anything you aren't sure about. |
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Spock (rhp)
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are you in America??
most medical people are very used to receiving payment as much as 90 days after they serve you. Medicare rarely pays anything in less than 45 days.
so what you do is tell the medical people that you are awaiting a final bill from all your providers, and then the other guys' insurance will settle them all.
and, don't pay in the meantime.
next, the insurance company. tell them that the settlement terms you are looking for include them paying all of your medical bills from this, plus compensation for lost work time [or lost school time], plus something for pain and suffering. [And for your bike.] Then ask them if they'd care to make an offer along these lines?
do this in writing and request an offer in writing. [verbal offers aren't binding -- they get into "he said/she said" arguments.]
at the very least, this will stall them for a while. which you need....
now, have that knee seen to ... continuing pain might well be a torn ligament which will require arthroscopic surgery. |
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bud68
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I have no easy solution , but I had a family member in this situation, and yes, you have to pay. As far as the hospitals/doctors are concerned, you are responsible for payment. They are not a party to the accident settlement and if you don't pay, while waiting on a settlement, they will eventually send the outstanding bills to collection, which will further complicate your life. If the other guy's insurance keeps stalling, you'll have to get a lawyer (which also complicates your life). Good luck. |
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Karen B
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You are responsble for figuring out how to pay the bills. The insurance company will NOT pay your interest on a lloan or credit card. |
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Custo
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Presumably, You don't have health insurance? Um, get a lawyer? |
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Ralph N
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settle for $100,000. if the insurance co bolts. tell them next phone call from your lawyer and you feel a pain coming. |
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heyteach
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If you have health insurance, they MAY pay and then they WILL expect to be reimbursed on settlement.
If not, then you MAY want to get an attorney as I believe they will take care of this issue (either forward the money or more likely make it clear that the bills WILL be paid upon settlement and they're handling it). This WILL cost you money as they will take a portion (probably anywhere from 25-50%) of your settlement. So that's not necessarily good.
You could see if you can negotiate a discount--self-pay or such and get the original bill AND the discounted one (which they would want paid ASAP).
You could enter into a payment arrangement--make the initial payments as low as possible for obvious reasons.
You need to get ALL the medical care you need ASAP as you are right--you don't know what all will be run up and if you settle too soon you can be up a creek financially.
Even if you had to go with projected ultimate costs, get the things that hurt now at least tested so you have a clue what you're dealing with because when you settle, that is it.
They will continue to pressure you to settle for just this reason--the sooner they pay, the sooner their financial obligation is over.
I have doubts you could force them to pay interest on a credit card (probably a HUGE percentage) or a loan, though a loan via a credit union or such should be a lot more reasonable.
You likely are not going to get much from this (pain and suffering "get," is what I mean) so I'd say:
get your medical care ASAP
negotiate for either a bill reduction and/or a payment plan
Good luck. |
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EffBeeEye
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TELL EVERY DOCTOR YOU GO TO TO BILL THE INSURANCE COMPANY OF THE ONE THAT'S AT FAULT. My wife and I were in an accident that was 100% the other driver's fault and we just told every doctor, pharmacist, chiropractor, etc. that we visited that it was a car accident and we gave them the claim number with the other insurance company. However, our own insurance company covered us until the other company paid them back. If they are harassing you to settle now, you tell them to stop harassing you. They have no right to do that. I would personally get an accident lawyer to take care of you. Don't take ANY final settlement until EVERYTHING is paid. You have two years after the accident to settle by law. |
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