What Obamacare Means for Auto Insurance

Obamacare and Auto Insurance

In Michigan, drivers are required to carry no-fault insurance on their vehicles. But beyond that, drivers may also choose to pay for additional coverage in the event of an auto accident. An experienced auto accident attorney, like our team at Mike Morse Law Firm, can help you make sense of what your benefits will actually pay for, should you be involved in a collision.

The auto insurance coverage that you pay for takes care of medical expenses (check what Michigan No-Fault Insurance Benefits are here) resulting from an auto accident — and drivers are paying for this coverage even if they don’t ever use it. This allows for the drivers who are involved in an auto accident to use those funds for medical expenses.

Obamacare and Auto Insurance

How does the new Affordable Care Act (commonly referred to as Obamacare) affect auto insurance? In theory, more drivers will have their own health insurance coverage because of the Affordable Care Act. Studies show that this could translate to a decrease by as much as 5% in the cost of auto insurance premiums.

Why? Because auto insurance companies reimburse millions of dollars for medical care related to auto accidents and they may not have to pay as much if victims are covered by other health insurance. Medical coverage for auto related injuries is also dependent on whether your purchase coordinated or uncoordinated coverage when you buy your auto policy.  Most consumers purchase coordinated coverage to save money on monthly premiums.  It’s important to know the difference and to thoroughly understand your coverage when you make the purchase.

But that doesn’t mean your health insurance benefits will cover all the medical expenses from an auto accident and you may have high deductibles to meet before those kick in. So, to maximize your auto insurance benefits, it’s important to talk to an auto accident attorney like our experienced lawyers at the Mike Morse Law Firm to help guide you through the process.

Mike Morse Law Firm

We know you don’t want to pay more for your auto insurance premiums if you don’t have to, but we want you to make sure you’re covered in the event of an accident. Even if you have medical coverage, you still need to carry sufficient coverage on your vehicles. If you are involved in a collision, whether or not you are at fault, it’s always best to discuss your options with an experienced auto accident attorney – especially when it comes to Obamacare and auto insurance.

Call the Mike Morse Law Firm today at (855) MIKE-WINS and someone from our team will be happy to get you what you deserve from your auto insurance benefits.

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