When calculating a personal injury settlement, all associated costs should be considered including medical expenses the victim is expecting to face in the future. For more information on your rights and legal options after being injured in an accident, contact an experienced Memphis personal injury lawyer today.
What Are Future Medical Expenses?
In terms of a personal injury settlement, future medical expenses are all medical costs that an accident victim will incur later on. When the victim of an accident recovers from their injury before their legal case is resolved, it is easy to include medical expenses in their settlement. They must simply gather evidence of their costs by collecting and tallying the bills they received from the hospital, doctors, therapists, etc.
However, when a victim has not recovered by the time their case is resolved or if they will never recover, all expenses they will have to pay later on come into question. It is generally agreed that the defendant should be responsible for covering all costs associated with the injury, even for treatments that have not happened yet. But how is that possible?
Do Future Medical Expenses Count in a Personal Injury Settlement?
Yes, future medical expenses count in a personal injury settlement. When a victim of an accident files an insurance claim or lawsuit against the liable party, they can recover compensation for their medical expenses, loss of income, property damage, pain and suffering, and more.
Even though the costs have not been incurred yet, future medical expenses are considered when calculating compensation in an injury case. Examples of future expenses can include ongoing treatments, surgeries, medication, modifications to the home or personal vehicle, in-home care, and more.
How Are Future Medical Expenses Calculated?
Future medical expenses can be calculated in many ways, depending on the details of the injury. If the victim is expected to make a full recovery, then the additional expense method is generally utilized. Using this method, the victim can envision what additional expenses are required in the time between the resolution of the case and when they will be able to return to their former lifestyle.
The total lifestyle approach is often implemented when the victim is not expected to fully recover. This method requires a detailed care plan to be created for the victim, outlining exactly how they will live with their injury, changes that need to be made, and expenses they will incur.
Regardless of the method that applies to the situation, expenses can be accurately calculated and proven with the help of legal, medical, and economic experts. Contact a skilled attorney at Ballin, Ballin & Fishman, PC to discuss your situation and learn more about your rights to compensation.
