A traumatic brain injury (TBI) could be a lifetime medical issue. Mild concussions may heal and leave behind no lasting symptoms. However, a moderate or severe brain injury can affect someone for the rest of their life.
Any medical issue that has lasting consequences in a medical sense will typically also cause financial consequences for the individual with the injury and their immediate family members. Those directly affected by a TBI need to understand the financial consequences of such an injury so that they can make better decisions about how they handle their situation.
What financial consequences do TBIs frequently generate?
1. Lifelong medical expenses
Those who only require short-term hospitalization and outpatient rehabilitation care will still have tens of thousands of dollars in medical expenses. When someone requires surgery, long-term, inpatient support and specialized equipment, the cost of the medical treatment could be millions of dollars. Car insurance coverage alone is often insufficient for the medical costs created by a TBI.
2. Lost earning potential
When someone has a severe TBI, they may require constant medical assistance or even life support machinery. They will typically not be able to work anymore. Those with moderate brain injuries may be able to return to gainful employment, but they may have to change their careers.
The symptoms of a TBI can vary greatly from case to case. Issues including personality changes, fine motor function challenges and memory problems could all leave someone unable to pursue the highly-compensated career they once enjoyed.
3. Household financial consequences
Especially when the person with a TBI is one of the parents in a family, the entire household they have to make drastic changes to start handling their responsibilities. From childcare and vehicle maintenance to cooking, the services provided by someone with an injury may become the responsibility of other family members. Some families need to bring in professional help.
It may also be necessary for another family member to leave their job or reduce their workload to provide medical support for the injured person. Injuries may necessitate changes to a family’s home and vehicle, which can also be very expensive.
Determining the financial impact of a traumatic brain injury will be a crucial step for those who need compensation after a car crash.