I had a question of accidnet and I had calculated out the MED. and LOSS WAGE and it iwas wrong, looking in my notes I find a sentance
"The new law also states that for an individual who is not diagnosed with an emergency medical condition, the PIP medical benefit is $2500."
this must be the twist and don't understand if this has soemmthign to do with it. I calculated it with the 2500 $ but its not seeming correct. anybody know what this refers to?
Michael,
You are correct - the new law only allows a $2500 limit on medical bills that are "non-emergency". This means that if you are involved in an accident on Monday and you go to the hospital/doctors on Thursday, you will only have $2500 is medical benefits. This is because it would hard to determine if your injuries were from a car accident or a fall down the stairs.
If you are treated on the same day as the accident, you receive full PIP benefits of 80% of your medical bills up to $10,000.
All PIP questions in the course and on the state exam are assuming treatment at the time of the accident.
Jan
I noticed on a couple of other PIP senarios that a $1,000 deductable applied to the net of 80%. Is this a standard deduction?
PIP deductibles of $250, $500 and $1000 are available. PIP deductibles lower your premium (slightly) and most agents feel it is not worth the minimal savings to carry a deductible on PIP coverage. The deductible is applied only to the medical expenses which is already reduced to 80%.
Jan