Everyone has seen those catchy ads for auto insurance where you can go on-line and save $500.00 on your auto insurance by picking and choosing your own coverage. The problem is that most of us do not know what we are picking. As an example, I have met with three clients in the last month who all in an attempt to lower their cost of auto insurance chose an $8,000.00 PIP deductible (two of the three did this on-line). Well they certainly saved some money on the cost of their annual auto insurance bill. However, what they did not realize is these minimal annual savings would cost them thousands of dollars in unpaid medical bills if they were involved in an automobile accident regardless of who was at fault. Sure enough, each was involved in an automobile accident and sustained some minor injuries. As a result of their choice of this PIP deductible, each was then required to pay their own medical bills despite the fact that each and everyone one of them had some form of health insurance. Before, you make a change to your automobile insurance coverage contact us at sclifford@elclaw.com to discuss what your short term savings may cost you long term.
If a person receives SSDI payments as a result of being disabled in a motor vehicle accident and then receives a settlement from the driver responsible for the accident, does Social Security have a lien on a third party settlement?
Based on current regulations and statutes, Social Security does not have a lien, however, pursuant to 42 U.S.C. 1395y(b)(2) (“The Medicare Secondary Payer Act”) provides that Medicare beneficiaries are required to reimburse Medicare for injury-related medical expenses paid by Medicare on a conditional basis for which recovery has been made as legal settlement with a third party. As of January 1, 2010, third party insurers will be obligated to inform Medicare any individual who is seeking a third party settlement who may be entitled to Medicare. Therefore, it is very important to identify at the beginning of a case whether or not their will be a potential Medicare recovery so that we can properly coordinate which Medicare paid medicals are related with the third party insurer and so that proper funds can be paid to Medicare at the time of settlement.
Most of us never really look at the contents of our automobile policy until we need it, and then it’s too late to change it. One important part to look at is the UNINSURANCE category – part 3, and the UNDERINSURANCE category part 12. These protect you and, in most instances, your family from the bad drivers out there.
It’s important to note that you cannot protect yourself more than you protect others from you. That means you cannot have more un/underinsurance than you have OPTIONAL BODILY INJURY – part 5. Your limits on UN/UNDERINSURANCE parts 3 and 12 should be the same limits as OPTIONAL BODILY INJURY – part 5. Remember OPTIONAL BODILY INJURY protects the world from you. UNINSURANCE and UNDERISURANCE save you from the world.
