(a) In any action tried under this subchapter the court shall instruct the jury that if the jury finds a verdict awarding damages it shall in its verdict specify the applicable elements of economic and noneconomic damages upon which the award is based and the amount assigned to each element. The economic damages shall be further itemized into amounts intended to compensate for medical costs, hospital costs, custodial care, rehabilitation, and lost earnings. The noneconomic damages shall be further itemized into amounts intended to compensate for pain and suffering, loss of consortium, inconvenience, physical impairment and disfigurement. Each element shall be further itemized into amounts intended to compensate for damages which have been incurred prior to the verdict and amounts intended to compensate for damages to be incurred in the future. In itemizing amounts intended to compensate for future damages, the jury shall set forth the period of years over which such amounts are intended to provide compensation. In computing said damages, the jury shall be instructed to award the full amount of future damages, as calculated, without reduction to present value. The decision of the court shall be itemized in like manner, both as to elements of damage and future damage.
(b) In appropriate cases the court may provide for a damage award rendered under this subchapter to be paid in installments, except that awards for:
(1) past economic damages;
(2) all noneconomic damages; and
(3) litigation expenses and those attorney's fees attributable to past damages;
shall be payable in a lump sum. In addition, awards in reimbursement of payments made by a subrogee or lien holder and allocable to future damage of the claimant shall be made in a lump sum. The court may order the purchase of an annuity contract by the defendant as security for and installment payment of future damages.