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The financial burden of long-term care after a car accident

On Behalf of | Nov 13, 2023 | Car Accidents |

Car accidents can have life-altering consequences, often leading to severe injuries that require long-term care. TBI, spinal cord injuries, chronic pain, PTSD and amputations are just a few examples.

Beyond the immediate physical and emotional toll, these accidents can also bring a significant financial burden.

Medical expenses

One of the most substantial financial burdens that follows a car accident is the cost of medical treatment. Extensive injuries may require hospitalization, surgeries and ongoing medical care. These expenses can quickly escalate, overwhelming even those with comprehensive health insurance. Co-pays, deductibles and out-of-pocket costs can strain an individual’s finances, potentially leading to significant debt.

Rehabilitation and physical therapy

Recovery from a car accident often involves rehabilitation and physical therapy. These services help individuals regain mobility and independence, but they come with their own financial demands. The cost of sessions, equipment and transportation to and from therapy facilities can accumulate, creating additional financial stress.

Prescription medications

Many car accident survivors require prescription medications to manage pain, prevent infections and address other medical issues. The long-term use of these medications can result in substantial pharmaceutical costs, which can be challenging to bear, especially if individuals do not have comprehensive prescription drug coverage.

Home modifications

In some cases, the accident may leave an individual with permanent disabilities, necessitating modifications to their home for accessibility. Ramps, handrails, wider doorways, walk-in tubs and other adjustments can be costly but are necessary for quality of life and independence. The costs can be steep, going to $15,000 or even higher in some cases.

Lost income

Long-term care often means time away from work. The loss of income during recovery can compound the financial burden, affecting not only the individual but also their family members who depend on that income. While some individuals may have access to disability benefits, these may not fully replace their lost income.

Emotional and psychological costs

The stress of dealing with mounting medical bills and navigating complex healthcare systems can lead to anxiety and depression. That may necessitate additional mental health support and expenses.

The financial challenges after a car accident can be overwhelming. Looking at the long term is important, especially for injuries likely to worsen over time.