medical insurance gap coverage
Gov. Bill Ritter signed SB 011 to early this month gives you access to Colorado drivers a useful way to pay for medical expenses if they are injured in an auto accident.
In the past four years since the Legislature repealed the No-Fault Act (which previously required to purchase insurance to cover your accident related medical expenses) to victims of accidents have discovered too late that they can not get medical treatment they need after a accident.
Under the new law (now codified as CRS sec. 10-4-635, et. Seq.) Automobile insurance companies now must offer cost $ 5000 Medical (MED-pay ") coverage to policyholders in Colorado. Consumers who do not need this coverage are not required to pay more for benefits are not going to use – simply may choose to deny coverage as they do today for uninsured and underinsured motorist coverage.
However, Colorado, the majority of motorists would benefit from this additional coverage was added as part of their automobile insurance policies to some degree. The following guidelines will help you determine how much coverage you should choose medical payments on your policy:
1. Drivers who have no health insurance separately in effect: If you currently have no health insurance of the self-med pay coverage may be the only way you would be able to pay for your care after a car accident – even if the accident was not your fault. Most doctors and medical providers do not see a patient if you are uninsured less it is an emergency life or death. If you are not covered by health insurance that you absolutely must purchase med-pay coverage on your auto policy. In fact, I recommend you buy the broadest coverage of his company car permits.
2. Drivers with health insurance that excludes coverage for Auto Accidents: In recent a few years, health insurance companies have begun to limit its liability for payment of accident related medical care by excluding of such coverage of its policy. This means you must pay for accident related medical care out of pocket. Unfortunately, many people do not know they have that policy until it is too late and have already been injured in an accident. It is very important that you read your policy and see if there is such an exclusion included. If so, you also need to purchase automobile med-pay as much as possible.
3. Drivers with high-deductible health insurance: Any person whose health insurance does not step in and pay benefits to a high deductible limit has been met med should ensure coverage of payment to cover the out of pocket expenses and deductibles not paid by their health policies. For example, many catastrophic health policies will not pay any of the first $ 10,000.00 in medical expenses incurred in an accident. These drivers must purchase sufficient coverage to cover this gap.
4. Drivers whose maximum Health Policy Program of Physical Therapy: group policy, many in Colorado to limit the number of physical therapy that can be insured for the condition in any policy year. If your policy only allows 20 physical therapy visits each year, may be useful to have a small amount of MED-pay coverage to ensure that no additional therapy visits will be paid out of pocket.
5. Drivers who want to zero out of pocket responsibility: Even if you have good health insurance policy with low deductibles – can spend hundreds of dollars to reach their deductible or co-payments. This new coverage will ensure this coverage gap is closed to those who choose to purchase med-pay coverage.
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Article Source: ArticlesBase.com – New Auto Medical Payments Law in Colorado
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