Document Type
Working Paper
Date of This Version
9-1-2014
Keywords
Affordable Care Act, forensic economics, tort awards, lawsuits, health insurance
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.
Working Paper Number
1406
Recommended Citation
Congdon-Hohman, Joshua and Matheson, Victor, "Life-care Awards in the Age of the Affordable Care Act" (2014). Economics Department Working Papers. Paper 164.
https://crossworks.holycross.edu/econ_working_papers/164
Published Version
This article was published as: Congdon-Hohman, J., Matheson, V. (Fall 2014). Life-care Awards in the Age of the Affordable Care Act. National Litigation Consultants’ Review, Volume 4, Fall 2014, Pages 1-3, 4, 1-3.
Comments
Published in National Litigation Consultants’ Review, Volume 4, Fall 2014, Pages 1-3