A severe injury can occur anytime and when you least expect it. Even worse, it can put a strain on your financial resources, especially if you’re enmeshed in a lawsuit where you’re seeking a settlement. Money can be hard to come by, but don’t be discouraged. There are several options available that can help you make ends meet. The next time you talk to your lawyer, bring up the subject of medical care funding and how you can get it.
Pre- and Post-Settlement Funding
Some financial institutions can advance money based on the amount you’ll receive in the settlement. You can’t use this money to pay legal fees, but it is handy for dealing with medical care and living expenses in the meantime. The firm loans you a percentage of the projected settlement, and once that settlement is reached, you pay them back, sometimes with a bit of interest. Post-settlement funding is similar, though the firm lends you the money while you await the settlement check. Of note, if you lose your case, you don’t have to pay the firm back.
Charities and Foundations
There are multiple charities, nonprofits, and foundations that support and may even lend money if you’ve suffered an injury. Most address specific occupations, veterans, or other groups. Perform a search based on your background, job history, schooling, service, or the like, and you may find several groups that can provide the boost you need during this trying time. It’s not a matter of pride; let those who want to honor and help you do so!
When thinking about medical care funding and how you can get it, investigate medical liens. A medical lien can be imposed on a patient who is unable to pay for necessary services received at the hospital or another health care facility. The provider grants medical care (and even follow-up treatment) but doesn’t charge for it immediately. The patient still owes the money, but their attorney can negotiate a deal where the provider continues to provide needed care in exchange for a settlement. Some financial firms engage in medical lien purchasing, buy up a lien, and plan for the plaintiff to receive care based on recouping the costs with the inevitable settlement.
The Federal and your state government, perhaps, offer programs, administrations, and other means of receiving financial and other support during trying times. The Veterans Health Administration looks after members and ex-members of the armed forces, offering numerous health services. Indian Health Services was likewise created to aid Native American citizens. And finally, the US Department of Health and Human Services can give refugees assistance and basic health insurance through the Refugee Health Promotion Program. Explore your options!