Did you know, if you are a victim of a motorcycle or car accident in Denver, it can take years for your case against the at-fault driver’s insurance company to settle? During that time, if you are receiving medical treatment for your injuries, those bills are piling up, affecting your credit score, and causing significant stress. This makes the healing process even harder. Sometimes, victims choose to settle before they should just so they can get a portion of the money they’re owed to pay off the creditors howling on their phones.
But there is a way to get all the treatment you need and put the creditors off completely until you get the full settlement you’re owed. It’s called a medical lien company. But before I get ahead of myself, let me explain a little bit about healthcare insurance.
What Are My Insurance Options After an Accident in Colorado?
If you are injured in an accident and you have no health insurance, the hospital where you are taken will likely help you sign up for Medicaid. This is a great first option for those who have a job that doesn’t offer insurance or those who don’t make enough to buy insurance.
However, if you don’t qualify for Medicaid and you are facing a long recovery with lots of medical procedures, you might want to consider a medical lien company. One caveat: this is only possible if the person who hit you has good auto or liability insurance.
What is a Medical Lien?
When we have a client who was the victim in a car or motorcycle crash, and he/she doesn’t have insurance and doesn’t qualify for Medicaid, we may help them get care through a medical lien company. This is only possible if the at-fault driver has insurance or if you have enough underinsured motorists coverage (UIM) because, in the end, the medical lien company will be paid back from the client’s settlement.
A medical lien company operates much like an HMO, with its own doctors and other healthcare providers. When you sign up with a medical lien company, you agree to see their specialists through the course of your treatment. And you won’t have to pay a single bill until your case settles. This reprieve from creditors enables injured victims to seek all the care they need before settling. They don’t face copays or any other payment stress while undergoing treatment.
Once the victim’s care concludes, we can settle the case. Then, the client will pay back the medical lien company. Even better, we can help negotiate that figure down to a much smaller percentage than our clients would otherwise pay. (Yet another reason you should have an experienced personal injury attorney in your corner.)
One more note about insurance: The very best thing you can do to protect yourself from facing catastrophic medical bills after an accident is to buy underinsured motorist coverage (UIM) as part of your auto/motorcycle insurance.