Does Health Insurance Cost More after a Medical Malpractice Settlement?

Learn if Your Health Insurance Costs could Go Up After Filing a Medical Malpractice Claim

Health insurance has undergone several critical changes over the past several years. The insurance industry has had to place certain caps on medical malpractice coverage because of several large and excessive medical malpractice insurance pay outs. There are restrictions (more than just time restrictions) for filing certain personal injury claims. Medical product liability has been a part of the many restrictions and counter suits that have occurred within the health insurance industry.

The following are several facts that can help to understand why health insurance costs tend to rise because of numerous medical malpractice settlements. Understand that if you feel you have a case, you should contact a Malpractice Attorney as soon as you can, to be sure you get the right representation.

Factor One: Medical Malpractice
Medical malpractice is that area of law that covers certain injuries that have been sustained in the course of receiving medical care. Malpractice questions can arise when the outcome of a surgery procedure does not improve a patient’s condition, for example. Other malpractice questions occur because of possible medical errors or oversights. The medical insurance sector of the U.S. economy provides pay out settlements for those health care claims that are filed within a certain period of time and are able to be proved with medical documentation.

Factor Two: Health Insurance
Health care insurance has a certain indemnification for the insured party. Any injury claim needs to establish who is at fault. Some jurisdictions have certain negligence rules that are contributory. These jurisdictions will determine what percentage of the damage is caused by each party involved. The health insurance costs in a certain region can be a function of the number of insurance claims successfully prosecuted. A large settlement in a region of the country can create higher medical insurance premiums for those insured within that area. Health insurance costs for the rest of the country tend to rise as well.

Factor Three: Rising Costs Of Health Care
Medical malpractice settlements rose during the past several decades. The aftermath of these large malpractice settlements included certain health care cost legislation. A medical malpractice insurance cap was determined, and the modern insurance cap pay out tends to be in the several hundred thousands. Limits on recovery helped to stop the certain rise in health insurance costs. Professional liability insurance costs rose significantly as well. A successful settlement from a medical malpractice claim today can cause the payee’s medical premiums to rise.

Factor Four: Medical Error
There are certain medical errors that can occur during a medical procedure. Medical errors can include a wrong diagnosis, delayed care or duplicate care, lab errors in patient identification, and medication side effects causing medical issues. Long hours for medical interns have frequently been sited as reasons for medical errors. Sloppy handwriting can create further problems for medical teams. There are several sources of medical errors that can create personal injuries for medical patients. Medical malpractice settlements have resulted from errors that have been caused by faulty medical practice or inadvertent medical error.

Factor Five: Wrongful Death Claims
Wrongful death claims tend to be the more winnable medical malpractice issues. Settlements have occurred because of failure to prevent injury, technical errors, and failure to correctly diagnose.

Health insurance costs tend to rise after some medical malpractice settlements. There have been malpractice questions of procedure that have significantly affected health insurance costs. Malpractice caps are used today to prevent excessive medical costs.