Tuesday, May 12, 2020 1:45:27 PM
As we're in the midst of a time that we will not forget anytime soon let us utilize this time to talk about some upcoming law changes to the state of Michigan as of July 2nd, 2020.
One of the major changes that will be taking place as of July 2nd, 2020 is in regards to PIP. PIP or Personal Injury Protection by definition pays for medical expenses, work loss benefits, rehabilitation and attendant care. This coverage is currently a benefit that will pay out on unlimited basis. However, you will have the right to choose to keep the unlimited coverage or lower it. Here are the following options; Unlimited, 500k, 250k, 50k (Medicaid required as underlying medical insurance), Opt out (You must have Medicare A & B ) and finally Healthcare exclusion which is only available to you if you have a qualified health care plan.
Because this is such an extensive change to our plan in the State of Michigan there will certainly be a lot of opinions and shared conversations that will be had. The best possible choice is to talk to your trusted insurance agency. We have taken the time to educate ourselves on the choices that are available and are readily available to go over them. This would allow Crosby & Henry not only the chance to review this law change and it would also allow us to review each individual need to make sure we are not missing any part of the picture to protect your future financial security.
We appreciate you taking the time to learn and read about the upcoming changes and please continue to pay attention as we further share about the upcoming law changes.
Crosby & Henry Personal Lines Department