This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Tort Reformers And Trial Lawyers Agree On Bill That Helps The Injured

AUSTIN, Texas, May 26, 2013 /PRNewswire-USNewswire/ -- A bill that changes the way health care plans are reimbursed following liability lawsuits and puts more money into the pocket of injured parties was signed into law by Governor Rick Perry today.

The measure makes it easier to settle meritorious cases, thus saving plaintiff and defense time and money.

"We greatly appreciate the Governor seeing the sensibility of this measure and signing it into law," said Mike Hull, the general counsel for Texas Alliance For Patient Access, a statewide medical lawsuit reform group that supported the bill.

Under previous law, a person could get injured, sue for damages, receive a settlement and then be required to pay the entire settlement to their health insurer as reimbursement for medical expenses.

"There was no incentive for an injured person to settle for a reasonable sum, if they received no money," Hull said. "Defendants often had to pay an inflated price to settle or risk going to trial because they couldn't reach an agreement," he said.

Among those who advocated for the bill was Dustin Strelsky, a 15-year old from the small central Texas town of Rockdale, who was left paralyzed after being hit by a drunk driver. Strelsky's family agreed to release the driver in exchange for his insurance policy but they couldn't reach an agreement with  Strelsky's own health insurer.

Strelsky's family asked the health plan to let him keep some of the settlement money. The health plan refused and sued Strelsky's parents, claiming they were entitled to 100% of the settlement and that the wheel-chair bound teenager should receive nothing. The case settled only after the Texas House considered the bill in committee.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs