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Once ongoing medical care costs have been identified, they need to be presented in present or future value (depending on the jurisdiction). Economic experts at Vocational Economics evaluate the present value of life care plans, whether the plan was developed by our own experts or by an outside planner. This process is necessarily fine-tuned to the specific line items of the plan. Each item might have a different frequency or period of time to which it applies. In addition, different types of items in a life care plan have displayed dramatically different rates of increase over the last several years, as shown in the graph below. The economist must be aware of these relationships as he or she projects the cost of the plan needs over the plaintiff's life expectancy.
Last Modified: Thursday August 07, 2003 09:14 AM |
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