As a litigation accountant, one may review and quantify several
life care plans each week, both for plaintiff and defense counsel.
On occasion, comparisons between reports are completed, using a
'compare and contrast' or 'exception' approach. The
calculations may appear simple; present valuing the costs using
actuarial estimates, taking into account discount rates, mortality
and inflation. However, there are many issues to consider when
reviewing these costs of care reports. It is prudent to see the
overall conceptual issues, rather than merely inputting the
individual values.
Abnormal" or "extraordinary" are the key words.
Future Cost of Care awards encompass extraordinary or abnormal
costs and expenses that will be incurred as a consequence of a
plaintiff's injuries. This differs from Income Loss awards
which compensate a plaintiff for the essentials of life, namely
food, clothing, shelter and transportation. Future Cost of Care
claims can be the most significant
