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Potential Effects of the Affordable Care Act on the Award of Life Care Expenses

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Author Info

  • Joshua Congdon-Hohman

    ()
    (Department of Economics, College of the Holy Cross)

  • Victor Matheson

    ()
    (Department of Economics, College of the Holy Cross)

Abstract

Plaintiffs in personal injury lawsuits are entitled to compensation for future medical expenses. We argue that the “guaranteed issue” and “individual mandate” requirements of the recently passed Affordable Care Act (ACA) will allow victims to address their health needs through the purchase of a simple health insurance plan rather than direct compensation for an itemized list of health care needs. As such, damage awards for health expenditures should be capped at a maximum of $5,950 per year. Furthermore, the role of a life care planner should evolve into determining which life care expenses are covered under covered by the minimum insurance requirements mandated by the ACA and which entail additional expenditures beyond those covered by health insurance.

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File URL: http://college.holycross.edu/RePEc/hcx/Matheson-Congdon_ACATortAwards.pdf
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Bibliographic Info

Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 1201.

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Length: 14 pages
Date of creation: Sep 2012
Date of revision:
Handle: RePEc:hcx:wpaper:1201

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Web page: http://www.holycross.edu/departments/economics/website/
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Keywords: Health insurance; forensic economics; Affordable Care Act; tort reform;

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