Any injury suffered in a car accident could lead to immediate medical bills and long-term costs. Even something as simple as a broken arm could leave someone thousands of dollars in debt. They need to know how to seek financial compensation.
But this becomes especially important with serious injuries, like spinal cord injuries. These are so severe that they could cost hundreds of thousands of dollars every year. Someone who is living with a spinal cord injury for a significant amount of time could be facing millions of dollars in medical bills and lost wages.
Injury type and age
Two important things to consider are the patient’s age and the type of injury itself. For instance, a high tetraplegia may cost over $184,000 per year, along with $1 million in just the first year. A low tetraplegia, on the other hand, could cost around $113,000 per year, along with $769,000 in the first year. Paraplegia is likely less expensive, with costs just over $500,000 for the first year and around $68,000 for subsequent years.
Age is also very important because a younger person will lose out on more wages and need more extensive medical care for longer. Someone who suffers from a high tetraplegia at 50 years old, for instance, will have estimated lifetime costs of around $2.6 million. For someone who is 25 years old and has the exact same injury, though, the estimated costs are around $4.7 million. The younger person needs to seek around $2 million more in financial compensation.
Securing this significant financial compensation can be difficult, so injury victims need to know exactly what legal steps to take.