When you are injured in an accident, you may be entitled to a variety of compensation. You could be awarded damages for medical expenses, loss of income, property damage, pain and suffering, and more. If you were severely injured, however, you may still not be recovered by the time you go to collect your settlement. If your medical issues are ongoing, your future medical expenses can be calculated and included in your personal injury settlement award. This process can be complex but it is important that your rights are protected. For skilled representation and legal advice, reach out to a Geneva, Illinois personal injury lawyer to set up your free consultation today.
What Are Future Medical Expenses?
Future medical expenses, in terms of a personal injury case, are all medical-related costs that you have not yet incurred but likely will later on. Personal injury cases are generally resolved within a few months to 3 years, depending on the complexity of the situation. If your injury is particularly severe, you may not be fully recovered when it is time to be awarded your settlement.
Future medical expenses are calculated to ensure you are not left to foot the bill on your own, even after a case has been resolved. If you have a long-lasting or permanent injury, you may continue accumulating medical bills for months or even years later due to surgeries, physical therapy, ongoing treatments, medication, and more.
How Are Future Medical Expenses Calculated?
Calculating future medical expenses can be difficult but there are several ways. There is no way to predict with 100% accuracy the costs an individual will incur as a result of their injury but the following methods can get close.
If you are expected to make a full recovery, your legal team may use the additional expense method to calculate your future costs. When using this method, you can itemize all of the additional expenses associated with your recovery and determine about how long it will take for you to heal completely.
If you have suffered a permanent disability or injury, the total lifestyle method will be best suited for your needs. Using this method, professionals will create a detailed plan of how you will receive care and live for the rest of your life. This can include home care workers, modifications needed to your vehicle and home, ongoing physical therapy, and more. All of the costs needed for your care plan will be laid out and calculated to estimate how much your injury-related needs are.
Whichever method applies to your situation, you will need a team of experts and professionals to help accurately calculate your expenses. This includes economists, doctors and other medical professionals, and skilled legal representatives. Contact O’Brien Law, LLC today to discuss your case with an experienced attorney.