Tips

How to Manage Your Finances After a Head Injury

Your life can be severely impacted by a head injury caused at work, while driving, in an accident, or due to medical malpractice. Brain injuries can take a long time to treat and heal. They can also take a huge toll on the entire family. Moreover, even after you’ve been discharged from the hospital, you still have to spend valuable time and energy on sorting out your finances to be able to pay for the treatment and follow-up, which can often be very expensive. Here are five tips to help you manage your finances after a head injury. Knowing what to do can save you from losing even more sleep and energy while trying to figure out what needs to be done regarding your finances.

Check If You Can File a Claim

If you suffered a traumatic brain injury (TBI) due to an incident at work, or due to medical malpractice, then you can file a claim for compensation against your employer or the hospital. Speak with a good head injuries attorney to figure out where you stand compensation-wise. The lawsuit can secure you compensation for all the financial effects the injury has had on your family and you. A head injury settlement can make an immense difference to your financial condition as well as long-term health and fitness.

Check If Your Insurance Can Help

It makes sense to check if your insurance can cover some or all of your medical expenses. Your health insurance might cover some or all hospital bills. But also make sure to check if your auto insurance can help with the treatment costs, since the injury happened while driving. You can usually get insurance compensation much more easily when the accident wasn’t caused by your vehicle.

Check How Much Government Assistance You Can Get

The government has several disability and assistance plans that might be of help. Check what type of assistance your type of injury is usually offered. Medical benefits or disability payments may need some documentation and filing a claim, but it is worth it. Your options might include social security disability insurance or social security insurance. After your initial efforts, the process does get much easier once your claim goes into the system.

Speak with Your Bank and Creditors

You can also speak with your creditors to check if they can lower interest rates or extend the loan deadline. It can also be a good idea to consolidate your debt so that you don’t get pulled in different directions.

Negotiate Medical Payment Rates

You can also look into negotiating hospital and other medical services’ rates for payments. In some cases, you might be able to find a different provider that offers the treatment at a much lower or more flexible rate.

Managing your finances effectively after a head injury is essential to help your family and you get your lives back on track as much and as soon as possible. Medical malpractice and injuries claims laws can also be of great help in bringing back some semblance of normalcy into your life.

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