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Life-care Awards in the Age of the Affordable Care Act

Author

Listed:
  • Joshua Congdon-Hohman

    (Department of Economics, College of the Holy Cross)

  • Victor Matheson

    (Department of Economics, College of the Holy Cross)

Abstract

Prior to January 1, 2014, it would have been reasonable to assume that persons injured in an act of negligence would be forced to pay for their future medical care costs out-of-pocket rather than being able to rely on health insurance. The passage of the Affordable Care Act (ACA) has the potential to radically change how victims pay for future medical expenses, and now nearly every tort award that provides money to the plaintiff for the full payment of medical costs without consideration of the availability of health insurance will serve to overcompensate victims for their expected medical costs. New statutory or judicial rulings regarding subrogation and the collateral source rule appear to be required in order to simultaneously achieve the twin goals of making a tortfeasor pay for their damages while also making the victim whole.

Suggested Citation

  • Joshua Congdon-Hohman & Victor Matheson, 2014. "Life-care Awards in the Age of the Affordable Care Act," Working Papers 1406, College of the Holy Cross, Department of Economics.
    • Handle: RePEc:hcx:wpaper:1406
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    File URL: https://hcapps.holycross.edu/hcs/RePEc/hcx/HC1406-Matheson-Congdon_ACAUpdate.pdf
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    More about this item

    Keywords

    Affordable Care Act; forensic economics; tort awards; lawsuits; health insurance;
    All these keywords.

    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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