Sadly, accidents can occur at any place and time due to negligence. When someone else’s negligence leads to injuries, it can be overwhelming and frustrating as these injuries can result in physical, emotional, and financial damages that negatively impact your life. Fortunately, you can file a personal injury claim to seek monetary compensation for your economic and non-economic damages. Please continue reading to learn whether you can seek compensation for your future medical expenses in a personal injury lawsuit, and discover how a seasoned New Jersey Personal Injury Lawyer can help you fight for the rightful compensation you deserve. 

What Are Future Medical Expenses?

After an accident, an injured party may suffer serious injuries that require ongoing medical care. Unfortunately, many are unaware that they are eligible to recover compensation for these costs, known as future medical expenses. 

Future medical expenses are a form of economic damage that encompasses the projected costs the victim of an accident is reasonably expected to need following a settlement. These are generally awarded to those who have suffered serious or permanent injuries as a result of another person’s negligent actions. 

When Are Future Medical Expenses Typically Awarded?

In general, future medical expenses may be awarded in the following scenarios:

  • Long-term or permanent injuries
  • Traumatic brain injuries
  • Spinal cord injury or paralysis
  • Injuries that required ongoing rehabilitation

What Types of Future Medical Expenses Can Be Compensated?

If you have suffered serious injuries that will require ongoing care following your settlement, you may be eligible to recover compensation for the following:

  • Follow-up medical visits
  • Prescription medications
  • Future surgeries
  • Physical therapy and rehabilitation
  • Wheelchairs and assistive devices
  • Home health aides
  • Home modifications
  • Diagnostic tests and imaging

How Are Future Medical Care Needs Calculated?

Calculating an individual’s future medical expenses can be complex, as you’ll need to estimate the worth of something that hasn’t happened yet. However, they are typically valued based on need according to the severity and extent of the injuries. 

As such, you’ll find that this typically requires working with expert witnesses, like medical experts and vocational experts, to help calculate these costs. 

The Additional Expense Approach

This approach is used when a victim suffers a mild to moderate injury and is expected to maintain their former lifestyle. The additional expense approach evaluates the specific cost of the future treatment associated with your injuries.

The Total Lifestyle Approach

This approach is used when a victim suffers a catastrophic injury and can no longer live independently. Essentially, their injuries prevent them from maintaining their former lifestyle. Attorneys who use this approach often work with lifecare planners and health care providers who can help determine an accurate representation of the type of long-term care they’ll need in the future due to their injuries.

In these circumstances, medical professionals, occupational therapists, economic experts, and lifecare planners will produce a life care plan. This is a document that contains a detailed analysis of expected treatment timelines, recovery, and projected medical costs over the course of your life. 

Who Helps Determine These Future Costs?

As you can imagine, calculating the cost of future care can be an incredibly complex issue. Unfortunately, this matter may become even more complicated if the insurance company disputes these projected costs. As such, working with expert witnesses can help you determine the expected cost of care based on the authoritative opinions of industry experts. 

Medical Experts

Medical professionals can help assess your prognosis and explain the recovery timeline, anticipated care, and their costs. 

Lifecare Planners

A lifecare planner can help craft a long-term plan based on the severity of your injuries and the limitations you now face as a result of the accident.

Economists

Working with an economist is critical, as the projected costs you anticipate incurring as a result of the injuries may change over time due to inflation, rising costs, and the current value of the dollar. As such, they can help ensure you recover the compensation you deserve. 

Your Attorney

Working with an experienced personal injury attorney is critical, as they can negotiate with the insurance company using the information provided by expert witnesses to fight for the compensation you deserve. 

Are There Other Long-Term Expenses to Consider?

In addition to the cost of long-term medical care for your injuries, there are other damages you may need to calculate the projected costs of. This includes:

  • Lost earning capacity
  • Modifications to your home or vehicle 
  • Impact on your daily life
  • Long-term therapy

Why Future Medical Costs Must Be Included Before a Settlement

In a personal injury case, you cannot seek further compensation even if you have a permanent injury once a settlement has been reached. This is true even if your injuries worsen over time. As such, it is imperative to work with an experienced attorney if you believe you have suffered injuries that will require ongoing care. Failure to properly calculate these expenses before a settlement can result in lifelong financial hardship.

Connect With Our Monmouth County Legal Team Today

If you have suffered injuries at the hands of a negligent party and believe you will incur future medical costs as a result, it is in your best interest to work with a qualified lawyer from Falcon Law Firm, LLC. Our team will advocate for the maximum possible compensation for your future medical expenses. If you need assistance during these difficult times, do not hesitate to contact our firm today