Marty Cooper, an associate professor of psychology at SUNY Old Westbury, has joined the ranks of experts providing insight and opinion on personal finance, insurance and other matters via WalletHub, the award-winning personal finance company offering consumers services and tools geared to improving their financial health.
Tabbed an expert on the popular site, Cooper offered insights into the role and benefits of Medical Payments Coverage, or "MedPay," which can pay for accident-related medical expenses for a policyholder and their passengers regardless of fault - eliminating the need to wait for fault to be determined or for another driver’s insurance to pay for a claim.
While the article included a review of several issues related to MedPay, Cooper’s commentary centered on the role of each consumer’s psychological profile in determining whether MedPay might be beneficial over, or in conjunction with, personal injury insurance.
“The primary advantage of MedPay over liability insurance is that MedPay covers your own medical expenses regardless of fault,” said Cooper, who holds a doctorate in Counseling Psychology from Seton Hall University. “From a psychoanalytic perspective, people who struggle with guilt or an excessive sense of responsibility may experience significant distress after an accident. MedPay provides immediate support without the emotional burden of determining fault or waiting for legal processes to resolve claims, which can be particularly beneficial for individuals prone to anxiety or post-traumatic stress responses following accidents.”
He also discussed potential advantage of MedPay, when one form of insurance might be a better option that the other, and when drivers might consider getting both forms of coverage.
The winner in 2021 of the SUNY Chancellor's Award for Excellence in Teaching, Cooper is a licensed psychologist and mental health counselor in New York State and holds national certification as a counselor.
WalletHub offers free consumer tools -- which provides users with credit reports, credit scores and credit monitoring -- along with content that includes tools for comparing credit cards, personal loans, car insurance and bank accounts. Launched in August 2013, WalletHub is owned by Evolution Finance, Inc. and is headquartered in Miami, FL.