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What Is Medical Payments Coverage Really Good For?

By September 30, 2022No Comments

If you’ve ever been in an accident, then you know how expensive medical bills can be. Even if you have health insurance, there are always deductibles and co-pays that can add up quickly. That’s where medical payments coverage comes in. Also called “MedPay,” this add-on to your auto insurance policy can help cover some of the expenses related to vehicular accidents. In this blog post, we’ll explore what MedPay is, how it works, and whether or not you need it.

What is MedPay?

Medical payments coverage (MedPay) is an add-on to auto insurance that covers expenses related to car accidents. MedPay covers you and any passengers in your vehicle, any pedestrians you may injure, and you—if you are riding as a passenger in another vehicle or are injured by a vehicle as a pedestrian, bike rider, or public transportation rider. It’s important to note that MedPay does not cover damage to property; it is strictly for medical expenses.

Medical Payments (MedPay) - Young Woman Rubbing Her Neck and Feeling Sore After Whiplash in a Car Crash

If you are involved in an accident and incur medical expenses. As a result, your MedPay coverage will kick in and help pay those expenses up to the limit of your policy. For example, let’s say you have a $5,000 MedPay policy, and your medical expenses total $4,000. Your insurance company will pay the full $4,000; you will not be responsible for any out-of-pocket costs. However, if your medical expenses total $6,000, your insurance company will only pay $5,000; the remaining $1,000 will be your responsibility.

Do I Need MedPay?

Whether or not you need MedPay coverage is a personal decision. If you already have health insurance with good coverage, then you may not feel the need for MedPay since your health insurance will most likely cover any medical expenses resulting from an accident. However, if you don’t have health insurance or if your health insurance has high deductibles and co-pays, then MedPay may be a good option for you.

Group Accident Insurance - Close-up of a Female Sitting with a Broken Arm in a Plaster Cast in a Hospital Patient Room and Holding Her Injured Arm with Her Other Hand for SupportNo one ever wants to be in an accident. But if you are involved in one, medical payments coverage can help alleviate some of the financial burden associated with the resulting medical expenses. Whether or not you need this coverage is a personal decision; if you have good health insurance with low deductibles and co-pays, then MedPay may not be necessary. However, if you don’t have health insurance or if your health insurance has high deductibles and co-pays, then MedPay may be worth considering.

If you have any questions about MedPay, feel free to schedule a call with our team or import your current policies below for a full review, even if you’re not a customer of The McBride Agency (yet), with the buttons below.

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