Jill: Hi everybody! Welcome to another episode of Coffee with the Counselors. I'm Jill Bollwerk.
Andy: And I'm Andy Pichler, and we are the attorneys at Bollwerk and Associates in St. Louis, Missouri. Happy Friday!
Jill: Andy, tell me about your coffee cup today.
Andy: It's the same as usual, Jill. You know I'm a creature of habit. I've got my "Girl Dad" mug.
Jill: He needs to get a new one though because he's got another girl to add to that mug!
Andy: That's right, she's going to feel left out when she's old enough to figure out that she's not on it.
Jill: And I have the mug that anyone who's had a 40th or 50th or 60th birthday party has received - the "Older than Dirt" mug. Don't know which birthday that was from, 40 or 50, but that's what I'm enjoying my coffee out of today!
Today's Topic: Medical Payments Coverage
Jill: Today we're continuing our series on understanding your insurance policy. Last time we talked about liability coverage, which is mandatory in Missouri and covers your liability when you hurt someone else or damage someone else's car and it's your fault.
Andy: Today we're going to talk about an optional insurance coverage - medical payments coverage, or "med pay." Basically, if you're involved in an accident and you're injured, whether it's your fault or someone else's, med pay can help you pay those medical bills while the case is ongoing.
Benefits of Medical Payments Coverage
Jill: Med pay is really a good thing to have because:
- It's relatively inexpensive coverage
- People nowadays have very large health insurance deductibles
- When you have an accident and you're not at fault, even though the other driver's insurance company will likely resolve the case eventually, they won't pay bills as they come in
- Doctors and hospitals often won't wait until your case is over for payment
- It helps you keep all the balls in the air while pursuing resolution with the other driver's carrier
Common Client Concerns
Andy: Some clients are hesitant to use their med pay. They'll say, "Andy and Jill, I really like my insurance company, they've treated me well for years, I'd hate to use this."
Jill: And we tell them - that's why you have it! You're paying them a premium, they're there to ensure you get the payments when you need it. Why do you buy it if you don't want to use it?
Key Points About Med Pay
- It's optional coverage (unlike liability insurance)
- It's typically inexpensive (around $40-50 per year)
- It can help cover high deductibles (like $5,000 deductibles)
- It applies regardless of fault
- You've already paid for it, so use it when needed
**Preview of Next Episode**
Jill: Next time we're going to talk about uninsured motorist coverage.
Andy: That's a mandatory coverage - you have to have that on your policy in Missouri and in most states.
Jill: We don't want to overload you with too much information because it's Friday!
Both: Enjoy your weekend and we'll see you next time! Bye!
