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

Joshua Congdon-Hohman and Victor Matheson

No 1201, Working Papers from College of the Holy Cross, Department of Economics

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.

Keywords: Health insurance; forensic economics; Affordable Care Act; tort reform (search for similar items in EconPapers)
JEL-codes: I13 I18 K41 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2012-09
New Economics Papers: this item is included in nep-hea and nep-ias
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Citations:

Published in Journal of Forensic Economics, Volume 24, Number 2, 2013, Pages 153-160.

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https://hcapps.holycross.edu/hcs/RePEc/hcx/HC1201- ... on_ACATortAwards.pdf (application/pdf)

Related works:
Journal Article: Potential Effects of the Affordable Care Act on the Award of Life Care Expenses (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hcx:wpaper:1201

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