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

Author

Listed:
  • 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.

Suggested Citation

  • Joshua Congdon-Hohman & Victor Matheson, 2012. "Potential Effects of the Affordable Care Act on the Award of Life Care Expenses," Working Papers 1201, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:1201
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    File URL: http://web.holycross.edu/RePEc/hcx/HC1201-Matheson-Congdon_ACATortAwards.pdf
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    Keywords

    Health insurance; forensic economics; Affordable Care Act; tort reform;

    JEL classification:

    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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