Factors That Affect Auto Insurance: Hospital And Medical Costs

When you think about hospital costs, you probably think of health insurance. Although it may not be as apparent, medical and hospital costs affect auto and homeowners insurance too. Injuries to you and others are covered by Medical Payments and Uninsured/Underinsured Motorists coverages on your auto policy. Your homeowners insurance policy most likely includes Medical Payments to Others coverage, protecting those who are injured on your premises.

Five-year comparison of hospital costs

Provided below are the 1995 and 1999 adjusted per diem hospital costs in major Ohio cities. (1999 statistics are the latest available at close of publishing.) In recent years, average daily costs—especially in Ohio’s metropolitan areas—have stabilized. In fact, costs in the Steubenville/Wierton area showed a decline. Between 1995–99, the state average adjusted per diem cost of hospital care rose 12.6% in metro areas and 15.7% in nonmetropolitan areas. The statewide average showed a 12.9% increase during this five-year period.

Source: Hospital Statistics, 1992–93 edition and 2001 edition, published by the American Hospital Association

One in 10 Americans, 31 million people, went to an ER for treatment of an injury in 2000. Falls (23%) were the most common cause of injury, followed by getting hit by someone (18%), and transportation injuries (17%). The most injury-prone segment of the population is men ages 15–19, and the least injury prone is men ages 65–74. (The Washington Post, 5/04/01)