If you apply for legal funding and your insurance company has filed a medical lien against you, we will take that into consideration when we determine the amount you qualify for. We don’t actually work with your insurance company directly, although your lawyer can interact with them on your behalf.
Instead, we work directly with a network of doctors, surgeons, surgery centers, and hospitals who agree to treat personal injury victims on lien. If you want to use part of your pre-settlement legal funding to pay your medical bills, you are within your rights to do that. However, you can also use your legal funding to pay for your daily living expenses with the knowledge that the medical lien will be paid from your settlement funds when you eventually win your case.
How Pre-Settlement Funding Works
High Rise Financial provides medical lien funding as well as pre-settlement legal funding. In this way, we are able to help personal injury plaintiffs like you pay your bills and get the medical treatment you need. As long as you have filed a claim and you’re working with an attorney, you can apply for one or both forms of funding.
Our goal is to help you focus on what you need to do: take care of your health and help your lawyer negotiate the best settlement possible. While pre-settlement funding can relieve your financial stress, medical lien funding can help ensure you treat your injuries without the stress of upfront costs.
We will never lend you more than we think your eventual settlement can cover. We want to make sure your settlement can:
- Pay us back our legal funding amount (plus fee)
- Pay your legal fees
- Pay any outstanding medical liens
- Leave enough to provide you with some financial relief after all this is said and done
Fill out the application form(s) to get started.
How Medical Lien Funding Works
Medical lien funding is a more specific form of pre-settlement funding. Here, we purchase the lien from your healthcare provider, then we pay them for your ongoing care. There is no cost to you until your case resolves. This means no insurance co-pays, no deductibles to pay, and no debt collectors coming after you.
Rather than transferring funds to your bank account like we do with legal funding, with medical lien funding we act as the liaison between you and the medical community. We cover a variety of treatments and procedures that are needed in relation to the injuries you suffered in your accident, which can include:
- Initial evaluations
- Pre-operative clearance
- Therapy and rehabilitation
- Mental health treatment
- Prescription medications
- Durable medical equipment (DME)
If you have established a relationship with a medical care provider who doesn’t take a medical lien and you would like to continue seeing them, we can arrange for payment directly to that provider.
Medical Liens and Your Health Insurance Company
When you apply for medical lien funding, High Rise Financial takes care of paying for your medical treatment. If you’re insured, medical lien funding takes your health insurance company out of the equation.
Doctors, therapists, and facilities in our lien-based networks know they will be paid via High Rise Financial. They don’t have to worry about insurance companies denying you coverage for a particular procedure, surgery, or treatment.
This is true regardless of the agency providing your healthcare coverage. This includes:
- Private insurance companies (Blue Cross, Aetna, Cigna)
- The Children’s Health Insurance Program (CHIP)
- The Veteran’s Administration (VA)
- Workers’ compensation
If Your Insurance Company Files a Medical Lien
Your insurance company may file a medical lien against your settlement. This is most likely to happen if they paid a claim when you were treated after your accident, then learned you were filing a personal injury claim.
The insurance company knows that any settlement or court award you receive will include money to cover your medical bills. If you did not pay your medical bills as you received them, the insurance company will attempt to seek payment from your settlement funds.
This process is called subrogation. The strength of a subrogation claim depends on the language in your insurance policy. Some states prohibit a health insurance company from inserting a subrogation clause into their policies. Your lawyer will know the laws in your state that apply to your case.
If your insurance company places a medical lien on your settlement, your lawyer may be able to negotiate the amount they eventually receive. If you wish to use your pre-settlement legal funding to help pay off those medical bills, you can. Otherwise, when you get your settlement or court award, you must pay these liens. Your lawyer will make the necessary payments before providing you with the rest of your settlement.
Applying for Medical Lien Funding Is Simple with High Rise Financial
We try to make the medical lien funding application process as simple as possible. Either you or your attorney can apply by giving us some basic information about your medical needs and your case. Once we confirm we have a lien-based provider who can help, we then set up the first appointment for you. After that, you can communicate directly with the healthcare provider.
If you have questions or need help with the application, please call us at (866) 407-6404. You can also use our online chat feature if you prefer.