Who pays for medical bills in a car accident in Florida?

Car accidents have become a common occurrence in today’s world. An accident may result in minor injuries such as bruises, or it may result in severe damages such as back injury, injury to the spinal cord, fracture, organ damage, etc. These medical conditions require medical treatment, including surgery, which is very costly. 

If you are injured in a car accident in Florida and are concerned about paying your medical bills, you have come to the right place. Here, we’ll take a look at sources on who pays medical bills for car accidents in Florida. Multiple sources are available in Florida to pay for your medical bills after a car accident that might help you feel less stressed about your bills. The most prominent sources are explained below:

1- Personal injury protection (PIP)

The state of Florida imposes a legal duty on the owners of automobiles, including cars, to have personal injury protection insurance. No-fault insurance covers medical bills after a car accident for any person injured in a car accident, irrespective of who was at fault in the accident. Therefore, you are entitled to receive medical cover whether you are a car accident victim or a negligent driver whose fault has caused the accident.

Personal Injury Protection does not provide 100 percent coverage. It covers 80 percent of the medical expenses. However, its maximum limit is 10,000. If 80 percent of the medical expenses exceed this maximum limit, the PIP will not cover the additional costs, and it will pay a maximum of 100,000. 

PIP is not only limited to owners of vehicles. It also provides coverage to family members and anyone who is injured in a car accident. In addition, the majority of the individuals who suffer injuries in car accidents received 80 percent coverage for their medical expenses. PIP does not apply to public transport such as buses, taxis, etc. 

PIP coverage is limited to medical expenses. This means you cannot claim compensation for the mental health issues you have developed after the car accident or the pain and suffering caused by the accident.

2- Med- pay insurance

Med-pay is another critical source to pay your medical bills in Florida. While PIP provides 80 percent coverage, Med-pay covers additional medical charges. 

To avail of this coverage, you will have to purchase med-pay insurance. There are different limits available, and you can buy any insurance policy according to your needs. For example, say you purchase a Med-pay coverage of $5,000 while you suffer some serious injuries from a car accident. Generally speaking, the medical expenses would be around $55,000. With this coverage, you would have the peace of mind that you can afford further medical treatment if needed.

Regardless of your injuries from a car accident, in Florida, the PIP will cover $100,000, and the Med-pay will cover the additional $5,000. 

Med-pay is not a mandatory requirement of law in Florida, so you are entitled to decide for yourself. You can either subscribe to med-pay or not.

3- Letters of Protection

A Letter of Protection is a contract between a patient who has been injured in a car accident and a medical professional. In this contract, the medical professional agrees to provide treatment to the patient upfront, and the patient agrees to pay the medical professional from the proceeds of the personal injury claims. 

Letters of Protection are viewed with suspicion in many areas; however, they assist patients who need medical care but do not have the means to pay for medical expenses at the moment and cannot postpone their medical treatment for a future date when they will have the funding to pay for them in the future. 

4- Personal injury settlement

With car accidents, you are entitled to file a personal injury claim against the driver or any other person who was at fault and whose negligence has caused the accident. 

In personal injury cases, you can claim compensation for the medical expenses incurred for the injuries caused by the accident. 

Similarly, a car accident may result in permanent disability, and you may not be able to function properly for the rest of your life.

 In such cases, you can claim compensation to cover your particular needs and disabilities. 

A car accident can be traumatic and badly affects individuals’ mental health. You may have flashbacks of the accident, and you may not be able to drive again. Fortunately, you can also claim compensation for the pain, inconvenience, and suffering caused to you in the accident. You are also entitled to claim damages for the repair of your vehicle and the lost wages.

5- Settlement funding companies

When victims of motor vehicle accidents are underinsured or uninsured, it can become problematic to pursue the surgery needed as a cause of the accident.

In Florida, there are no specific laws in place to regulate the operations of lawsuit funding. This means that if you have a personal injury claim and your suit is pending in court, you can apply for settlement advance funding. You can use the funds to pay for medical bills or financial liabilities without waiting for the final settlement of the case. 

Settlement funding companies provide cash advances to personal injury victims at any stage of the suit. They also provide medical funding (a form of lawsuit funding) which practically pays off for the continued surgical treatment that the accident victim needs.

In order to avail of pre-settlement lawsuit funding, you have to satisfy the following requirements;

1. The injuries or harm caused to you are due to the negligence of another person.
2. You must have filed a suit in the court of law and claimed compensation for the injuries caused to you.
3. You must be a resident of Florida, or your case should be pending in a court within the jurisdiction of Florida.
4. In lawsuit funding, the cooperation of a lawyer is essential. Therefore, your lawyer should be on board to avail of the lawsuit loan.

Once your application gets approved, you will receive the cash advance right away. The funding you get is a non-recourse loan, which means you are not legally bound to repay the amount. 

Most important, settlement funding is a form of financial arrangement in which financing companies assist plaintiffs with meritorious claims with the condition that if the lawsuit is successful and the claimant receives compensation from the court of law, the company will receive a specific percentage from the total settlement. In other words, the funder will receive payment only if the claimant is successful in the court of law. If your lawsuit fails, the funding company will not claim the repayment of the money provided to the claimant.

The same goes with medical funding because it is a non-recourse investment into the surgery as the finance company will only get paid if your case settles successfully. Medical providers have no risk as they are directly paid in full pre-op.​

To see if you qualify for medical or lawsuit funding in Florida, contact Baker Street Funding at (888) 711-3599 or have your attorney contact us to put a package for you and your medical and financial needs.

Apply for a pre-settlement cash advance

These days, there are different options available for you to pay for your medical bills. Now that you have a big picture view of your options, it would help if you don’t worry about medical expenses and focus on your well-being. 

On another note, it is worth mentioning that it may time a reasonable period to receive money to pay your bills. In this duration, you may struggle to settle your financial liabilities.

With the help of Baker Street Legal Funding, you can ease your difficulties in Florid. Apply for pre-settlement funding to get the cash you need against your pending lawsuit. And if your application is approved, you will receive funding to pay your bills in 24 hours or less. 

If you are considering lawsuit funding in Florida, get in touch with us at (888) 711-3599, and our team will assist you in every possible manner.