A serious injury can lead to financial burdens. Today, the attorneys of Banks & Jones answer some of your pressing questions about how to handle those burdens.

Who pays for medical bills if I’m involved in an automobile accident?

How do I get my medical bills paid if I’m involved in an automobile accident? Well first, they’re going to be considerations of whether or not it was the other party’s fault. When you’ve purchased your insurance coverage, you likely had the opportunity to obtain what is called Med-Pay coverage in the state of Tennessee. Here in Knoxville, Tennessee we investigate that coverage early on in the case to determine whether or not we can access the same.

Depending upon the level of coverage you’ve got, we can get your medical bills paid up to a certain amount that you have contracted for. In the event that the other party is at fault, generally that is at the end or the conclusion of the lawsuit, wherein we reach a global settlement and your medical bills are paid out of that.

We try to contact all of the medical providers to let them know that you are going to be responsible and that you’re going to pay these bills in a timely manner, as soon as you receive the compensation that you’re justly entitled to as a result of this accident.

Should I use my personal health insurance to pay for medical treatment following an auto accident?

Whether you should use your personal health insurance to pay for injuries arising out of an automobile accident is a question that we’re often asked. The reality of it is, is that you’ve contracted for that insurance and you need to utilize the same, primarily because there are provider discounts that won’t otherwise be afforded to you from the actual medical provider.

That is, we all get EOBs, or explanation of benefits, and you’ll note that there’s an amount that you are actually responsible to for the provider. That being said, you will have a substantial discount by utilizing your health insurance. They will also have a subrogation against your case, but the reality of it is we can compromise that, and hopefully save you some money on the back end so that we maximize your compensation for the accidental injuries.

How long will my case take before I get paid?

How long will my case take before I get paid? This is a question we get asked all the time at Banks & Jones. And it depends on a number of factors, the first of which is how long you’re treating medically, prior to your medical treatment being resolved. And then it depends on what the insurance company does as far as offering money on your case. Sometimes you may be able to get it resolved quickly, but sometimes you have to dig in for a long fight.

And you have to have an attorney who’s willing to do that. But it’s very unpredictable as to how long your case is going to last. But it certainly should not last an excessive amount of time if you have competent counsel on your side.

Do I have to pay taxes on my settlement amount?

When clients find themselves in a personal injury type situation, one of the first things they wanna know is, are they gonna have to pay income taxes on their settlement? The basic answer to this question is no. Money that you receive pursuant to a personal injury settlement is not considered income, and therefore you do not have to pay taxes on it.

However, it’s always important that you have an attorney to represent you on a personal injury case, so that you can have someone to ask important questions to during this time. You can contact us at Banks & Jones to help you with those needs. We can be reached at (865) 546-2141, or you can also find us at banksandjones.com.