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Injured in a car accident? Here’s why your insurance may not be enough
If you have medical insurance, you probably think that will cover all your expenses in the event of a car accident. Unfortunately, for many Americans, this is not the case.
A recent report by The Atlantic found that many medical insurance policies come with high deductibles, which consumers have to pay out of pocket. This means that an unexpected event like a car accident can leave victims and their families facing medical bills in the range of thousands of dollars. Making matters worse, if car accident victims are unable to work as a result of injuries sustained, they may lose their job and, with it, the medical coverage they receive from their employer. Now, these families face huge medical bills without insurance coverage.
What insurance coverage means
Just having medical insurance does not mean that a household suddenly can afford all the costs associated with medical care. Co-pays, office expenses, rehabilitation treatments, prescriptions, and other costs that are related to an accident that may not be covered by insurance plans—especially before deductibles are met. Even low-deductible policies may require shouldering a higher percentage of the cost for certain prescriptions. The Atlantic report noted that certain insurance companies may pay a higher percentage of the cost for potentially addictive painkillers but may require consumers to foot the bill if they prefer safer, less addictive alternatives.
The scarcity of emergency funds
More and more Americans find it difficult to save money, which can lead to dire financial trouble in the event of an emergency. The Atlantic reported that the majority of Americans did not have even $400 saved for an emergency—and medical expenses are just part of the financial burden in the event of a sudden illness or injury. Other “hidden costs” include paying for childcare during rehabilitation appointments, travel, and parking costs when going to the doctor’s office, or just arranging help around the house for chores or caring for children and pets while recuperating from injuries.
These days, when people fall into tough financial times after an emergency, they may turn to websites like GoFundMe and YouCaring in an attempt to raise funds to help. These websites are used to solicit donations from friends and family for a loved one who is injured or sick. According to Mother Jones, these sites have generated about $9.5 billion in total donations. However, even crowdfunding requires individuals to pay for their own emergency expenses, and sites like GoFundMe rely on individuals having a deep and affluent support network. For these reasons, it is estimated that 90 percent of GoFundMe campaigns do not meet their financial goals.
Accident Attorney in the Tri-Cities
In short, if you have been injured in a car accident, make sure you consider all your options. You may be entitled to compensation for your medical expenses, pain and suffering, and lost wages. You need to find an attorney who is experienced in car accident law and injury law to fight for you and your interests. The Law Offices of Michael R. Munsey, P.C., has the experience and resources to represent you in an accident with injuries. Call us at (276) 451-2056 to schedule a free consultation at our office in Johnson City, TN.
Representing the injured and disabled for more than 30 years, the Law Offices of Michael R. Munsey, P.C., is proud to serve clients in Bristol, Kingsport and Johnson City, TN, as well as Bristol, VA.