After a car accident, you may unfortunately experience not just physical and emotional pain, but financial pain, especially if the injury was debilitating enough to require significant medical costs. A major concern an injured person can have is required time off work in order to recover from the injury. The time to recover could take weeks or even months, leading to a financial strain and burden on the injured party. Employers do not have to keep you employed, but returning to work without a doctor’s approval could result in you losing compensation and you still might be unable to perform. The good news is that you may be eligible to receive lost wages through New York’s No-Fault Insurance coverage, allowing you to receive necessary benefits while you recover from your injury.
Basic New York No-Fault Benefits can cover up to $2,000 per month, or 80% of your lost earnings for up to three years after your car accident. Some insurance policies may even have increased benefit limits that allow for a larger cap of lost earnings, some instances even covering up to $50,000. In order to qualify for this coverage, you must make sure you can provide your insurance carrier: (1) a medical verification of your disability; (2) an employment status; and (3) an accurate breakdown of your current income. Typically your insurance carrier will contact your doctor and employer to attain this information, but because there may be delays in the process to receive benefits, it is important to keep this information on file to help expedite the process.
NOTE: Actuaries determine how much your insurance can cover based on whether $2,000 per month or 80% of your lost earnings is less.
In addition to providing your insurance carrier with necessary information, you are also required to apply for New York State disability benefits; your carrier will provide you with an application that you must fill out and submit. If you are eligible but don’t apply for disability benefits, your No-Fault insurance carrier can offset—or deduct—the amount of compensation you may have received from a disability from your No-Fault wage loss benefits. If you are denied disability benefits, you must present proof of denial to your carrier to help make sure you get the maximum benefits you’re owed.
Dealing with an injury can be particularly overwhelming and especially frustrating when it wasn’t even your fault. That’s why we at KI Legal go out of our way to help others when they are faced with a serious injury. Contact KI Legal today to help regain your financial losses and help you with the potential obstacles that go along with it.
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This information is the most up to date news available as of the date posted. Please be advised that any information posted on the KI Legal Blog or Social Channels is being supplied for informational purposes only and is subject to change at any time. For more information, and clarity surrounding your individual organization or current situation, contact a member of the KI Legal team.
KI Legal Personal Injury fights for victims of a wide array of personal injury claims, from Motor Vehicle Accidents to Scaffolding and Ladder Falls to Slip/Trip & Falls, amongst others. By leveraging its multidisciplinary foundation and, with the help of its experienced litigators, KI Legal Personal Injury can fight for the results and compensation that victims deserve without pushing for premature settlements due to financial reasons. This financial paradigm shift swings the pendulum in our favor when it comes to negotiating with insurance carriers, inherently leading to better results for clients. For the latest updates.