LA HB427

Allows insurers found liable for damages in personal injury cases to place future medical expense awards into a "reversionary medical trust" rather than paying lump sums directly to claimants

Requires the insurer to establish and fund the trust, appoint and pay the trustee, with payments made directly to healthcare providers as expenses are incurred upon submission of original invoices by the claimant

Mandates the trustee follow fiduciary duties under the Louisiana Trust Code (R.S. 9:1721 et seq.) and provide annual accountings to the claimant pursuant to R.S. 9:2088

Any funds remaining in the trust upon the claimant's death or trust termination revert to the insurer that established the trust

Applies prospectively only to causes of action filed after the effective date and does not limit claimants' rights to contract for attorney fees and costs