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Medical insurance may not cover your serious condition

I talk all the time about the importance of having enough uninsured/underinsured motorist coverage on your automobile policies.  Often, people say to me, "Why do I need that?  I have medical insurance."  I tell them that when a catastrophe happens, you need all the insurance coverage you can get -- because there are loopholes you don't even know about in your medical insurance coverage.

A recent article in Business Week magazine says the same thing.  A study has shown that people with medical insurance pay almost as much out of pocket as do uninsured folks when it comes to very serious medical conditions.  How does that happen?  Insurance companies are not in the business of handing out money, and once you appear on their radar screen as having a serious medical condition, they start to work to figure out a way to deny coverage.  And, since they wrote the policies and know better than you where the loopholes are, they often are successful in cutting off your benefits.

The article also cites a study that found in 2001, illness or medical expenses contributed to 50% of bankruptcies.  

I'm not saying don't get health insurance.  We need all the help we can get.  But it makes me mad that once again the individual gets taken advantage of by huge corporations.

How does bankruptcy affect a personal injury claim?

Things don't happen to us one at a time, and when two important areas of the law collide, you can be left without full justice.  If you have filed for bankrtupcy relief either before or after being in a car accident, you and your bankruptcy lawyer must review and understand all the facts and the law about how  your personal injury claim affects your bankruptcy and vice versa.  

The bankruptcy code provides for several kinds of assets that are exempted from the bankruptcy procedure, and you and your lawyer must know what they are and how they affect you.

Always, always, always tell both your bankruptcy and your personal injury lawyer all the facts.  Put them in touch with each other, so they can figure out how to maximize your remedies in both your bankruptcy and in your personal injury claim.

If your bankruptcy lawyer does not know that you have a personal injury claim -- or the facts about your medical bills and injuries -- then s/he cannot properly protect you from your debtors.  On the other hand, if you file for bankruptcy without telling your personal injury lawyer, you may not be able to recover the full damages that you would otherwise be entitled to recover.

Be sure to explore these exemptions with your bankruptcy lawyer if you have a personal injury claim.

We are not bankruptcy lawyers.  However, this issue is very important.  If you have been injured in an accident and are thinking about filing for bankruptcy relief, give us a call, 703-273-9500, or contact us through the website, and we will refer you to an experienced bankruptcy lawyer.

Don't count on your medical insurance to cover your serious condition

Check out my blog today on why health insurance may not be of much help if you have a serious medical condition.  Motorcyclists often suffer far more serious injuries than do people in cars and trucks, so having enough insurance is crucial.  Read our special report on why you need the highest possible limits on uninsured/underinsured motorist coverage on your motor vehicle policies.

Jim Brown, Bankruptcy Lawyer Extraordinaire

When your finances get out of control, all kinds of emotions take over:  fear, embarrassment, anger, loneliness.  How did I get in this situation?  Will I lose my house?  What can I do to take care of my family?  What will my friends and neighbors think of me? 

When these thoughts wake you up at night, you need to speak to an experienced, caring bankruptcy lawyer who can help you understand your rights and remedies.  There is no one I would rather have on my side than Jim Brown.  Jim practices bankruptcy law in St. Louis and has devoted his career to helping people who find themselves in dire financial straits, often through no fault of their own.  

I have gotten to know Jim over the last couple of years through a nationwide group of lawyers that we both belong to.  One of the things I have learnd about him is that he truly cares about helping his clients through the confusing bankruptcy system so they can get a fresh start.  Especially now, in these tough economic times, more and more people should seek out Jim's help before it's too late.

Even if you do not live in St. Louis, visit Jim's website.  There, you will find lots of free, valuable information that Jim has provided.  Jim feels obligated to give people the tools they need to make good decisions about finding the right lawyer.  You can't go wrong by checking out that helpful resource, or by hiring Jim to advise you on bankruptcy issues.