Personal finance content creators agree that financial well-being begins in your mind, but they differ as to which thoughts or mindset should guide your financial decisions. Some will tell you to psych yourself up into making risky investments or being pushy in your salary negotiations. Others will tell you that debt is your worst enemy, that you should avoid it at all costs, and ignore anything that anyone says about good debt. Then there are the ones who say that the most important feeling one should have about money, or about anything else, is gratitude. Try counting your blessings about your finances, even if you, like almost everyone, are living paycheck to paycheck. You are healthy enough to work, and your employer provides health insurance.
Yes, your financial situation would be worse if you did not have health insurance, but medical treatments are so expensive that an accidental injury can be a major financial setback even if you can return to work quickly after you begin treatment, and even if you have health insurance coverage through your employer. If you are still feeling the financial pain from an accident caused by someone else’s negligence, even though your health insurance contributed toward the payment of your medical bills, contact a Santa Fe motor vehicle accident and car accident lawyer.
How Does Your Health Insurance Affect Your Damages in a Personal Injury Claim?
When you file a personal injury lawsuit, you are not trying to get rich. You are just trying to get the defendant to reimburse you for the financial losses that the defendant’s negligence caused; these losses are called compensatory damages, and more specifically, economic damages. When personal injury cases settle, the parties first agree that the defendant’s negligence was the cause of the plaintiff’s injury and the resulting financial losses. Then they negotiate about how much the defendant should pay so that the plaintiff can break even from the financial losses arising from the injury. Therefore, the economic damages in personal injury cases usually include medical expenses and lost income. If the injuries are serious enough that the plaintiff still needs more treatment and still cannot return to work, the damages might also include future medical expenses and future lost income.
A collateral source is a source of money that can cover some of your losses; this can include health insurance. Pursuant to the collateral source rule, the defendant is still responsible for reimbursing the plaintiff for the amount the insurance company paid. Therefore, you should include your insurer’s portion of the medical bills in your requested damages. When you get the settlement, though, you must reimburse your insurance company for the amount it paid. You should not include insurance write-offs in your requested damages, since no one paid them.
Contact Slate Stern About Personal Injury Lawsuits
Slate Stern is a personal injury lawyer who represents plaintiffs injured as a result of preventable accidents. Contact Slate Stern in Santa Fe, New Mexico, or call (505)814-1517 to discuss your case.
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