While your future will undoubtedly be affected by a spinal cord injury (SCI), there are ways to mitigate the impact it has on your life. Understanding the potential financial fallout is crucial to pursuing compensation to protect your economic future. This blog discusses how spinal cord injuries can affect your earning potential, the steps you can take, and how HHJ Trial Attorneys can help.
Immediate Financial Repercussions
Following the injury, there will be immediate financial burdens. According to statistics collected by the National Spinal Cord Injury Statistical Center, medical expenses in the first year can range from $375,000 to over $1.1 million, depending on the severity of the injury. The costs incurred typically include:
- Emergency medical treatment and hospitalization
- Surgical procedures and post-operative care
- Rehabilitation and physical therapy
- Medical equipment and home modifications
- Medications and medical supplies
- Ongoing medical and psychiatric treatment
Long-Term Career Implications
The initial financial impact can be significant, but the long-term implications on your earning capacity can be devastating. Spinal cord injuries can affect your ability to continue working in your chosen profession or pursue other career paths. The degree to which your SCI will jeopardize your livelihood depends on several factors.
Injury Location and Severity
Higher-level injuries, such as cervical spinal cord injuries that affect the neck, generally have a more substantial impact on earning potential. In addition, complete injuries resulting in total loss of function below the injury will typically have more severe economic consequences.
The loss of function caused by severe SCIs may render the injured individual unable to perform the tasks required by their job. This consequence often means they must find a different job that suits their ability. However, finding a new job can be complex as they may now only qualify for jobs with significantly lower wages.
Pre-Injury Occupation
Your pre-injury occupation will determine the impact of your future earning potential. Those with physically demanding jobs often face greater challenges returning to their previous work. Even desk-based positions can require substantial workplace accommodations.
Unfortunately, many employers remain reluctant to put these accommodations in place due to the financial burden or personal biases toward disability. Fighting for accommodations can make it almost impossible for the employee to produce the same results as before the debilitating incident.
Education and Skills
Individuals with higher education and transferable skills will have more options for alternative employment. However, many people with spinal cord injuries require extensive training or education before they can transition to a new career path. The development of new skills can add another financial burden.
Quantifying Lost Earning Potential
If you choose to pursue compensation for your injuries, your personal injury attorney will need to quantify your lost earning potential. To make an accurate calculation, they will consider several factors. These factors will be used in the legal proceedings to prove your potential future economic damages.
Wage Loss
Wage loss is the difference between what you would have earned without the injury and what you can earn post-injury. Your attorney may consult economic experts to determine the extent of your lost wages. They will evaluate the following:
- Your salary history
- Expected career advancements
- Industry growth projections
- Regional employment trends
Employment Benefits and Retirement
Lost earning potential extends beyond basic salary to include the benefits you received from your employment before the injury. It’s also vital to consider employer-provided health insurance, 401k contributions, pension benefits, stock options, and other employment perks, as these losses can have a considerable effect on your future.
Career Development Opportunities
Spinal cord injuries can also impact the opportunities you had to advance in your career before the damage. Potential leadership roles and promotions may no longer be available after an SCI due to functional ability. Depending on the severity of the injury, you may also miss out on any networking opportunities that may have led to professional advancements.
Mitigating the Financial Impact
While the financial impact of a spinal cord injury is substantial, there are strategies to protect your financial future. Working with experienced professionals is the best way to set yourself up for success. After an injury, you have several options, which can include the following:
Legal Action
If your SCI resulted from someone else’s negligence, pursuing legal action may help you recover your financial damages. The compensation granted in personal injury cases typically includes:
- Past and future medical expenses
- Lost wages and benefits
- Pain and suffering
- Ongoing care and assistance costs
- Vocational rehabilitation and retraining expenses
Vocational Rehabilitation
Many resources are available to help individuals with severe injuries return to work. Career counseling is an excellent place to start, as this will help you determine your options. Adaptive technology is also progressing daily, making it possible to perform tasks that were once impossible with SCIs.
Education
Education and training can give you the skills to pursue job opportunities you had never considered. You can participate in degree programs solely online, giving you the option to learn at your own pace. There are also job training programs that will teach you the skills you need to move to a new career path.
The Role of Legal Representation
Having experienced legal representation is a crucial aspect of protecting your financial future after a spinal cord injury. At HHJ Trial Attorneys, we have several highly educated personal injury attorneys who can support you through the legal process. Your chosen attorney can:
- Calculate the full extent of your lost earning potential
- Gather expert testimony to support your case
- Navigate complex insurance policies
- Apply for disability benefits on your behalf
- Negotiate settlements that account for all future care needs
- Meet deadlines and fulfill requirements
Take Action to Protect Your Financial Future
Understanding the potential financial impact of a spinal cord injury is essential for making informed decisions about your future. While the economic challenges can be vast, proper planning, legal representation, and utilization of the available resources can secure your future.
If you’ve experienced a spinal cord injury, contact HHJ Trial Attorneys for expert advice. Work with professionals who understand complex cases and can ensure you receive the compensation you need to maintain your quality of life and financial stability.
