Are settlements based on the full value of the medical bills or what the insurance company actually paid?

Question

Are settlements based on the full value of the medical bills or what the insurance company actually paid?

Answer 1

Settlements are based on the agreement reached by the parties involved. The insurance company agrees to pay $X.XX in exchange for a release of claims against their policyholder/driver.

Each settlement is unique to it's situation. There is no hard and fast rule that says the settlement has to be based on something.  There are more factors that could come into play in determining a settlement amount than could be discussed here.  

Answer 2

What was billed is irrelevant.  They're going to go by the cost.

Answer 3

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