- November 20, 2017
Under New York’s No-Fault Law, if you are involved in an automobile accident, the law provides that your insurance company will be responsible for your medical bills. All necessary medical expenses are paid under the No-Fault Law up to the amount of $50,000. Included in this $50,000 limit is also reimbursement for loss of earnings up to 80% of the lost earnings based upon certain criteria.
If you are in an accident, you must call your insurance company to report the accident and request a no-fault benefits application. Typically, this application is sent to you as soon as you report the accident. The no-fault application must be completed and returned to the insurance company within 30 days, or your medical expenses may not be covered.
Once you have reached the $50,000 basic economic loss limit (unless you have purchased optional additional coverage), any medical bills incurred as a result of the accident will become part of the damages sought against the responsible party(ies). Once the $50,000 basic economic loss is exhausted, if your medical bills are then paid by your healthcare provider, under certain circumstances, the health insurance policy holder may assert a lien against any recovery you receive.