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Potential Effects of the Affordable Care Act on Loss Calculations

Author

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  • Joshua Congdon-Hohman

    (Department of Economics, College of the Holy Cross)

  • Victor Matheson

    (Department of Economics, College of the Holy Cross)

Abstract

This paper examines how the Affordable Care Act might affect the analysis of future care costs in medical malpractice, product or accident liability, or workplace injury cases. Prior to the ACA, it was reasonable to presume that a great deal of a victim’s future health care costs would be paid for out-of-pocket as there was little guarantee that the plaintiff would have access to affordable insurance. Since January 2014, however, a plaintiff can obtain insurance that will cover a significant portion of any future medical costs. This paper examines the basic structure of the ACA, how it has affected health insurance markets, and provides examples of how the ACA might be introduced into an analysis of future life care costs. In addition, case law regarding the application of the ACA is examined as well as arguments for and against considering the availability of health insurance in medical litigation. Finally, additional details regarding the application of the ACA by the practicing forensic economist are addressed. Length: 20 pages

Suggested Citation

  • Joshua Congdon-Hohman & Victor Matheson, 2015. "Potential Effects of the Affordable Care Act on Loss Calculations," Working Papers 1506, College of the Holy Cross, Department of Economics.
    • Handle: RePEc:hcx:wpaper:1506
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    File URL: https://hcapps.holycross.edu/hcs/RePEc/hcx/HC1506-Matheson-Congdon_ACAChapter.pdf
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    Keywords

    Affordable Care Act; forensic economics; tort awards; lawsuits; health insurance;
    All these keywords.

    JEL classification:

    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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