How Your Age Affects the Value of Your Car Accident Claim
Determining the value of your car accident claim is one of the most asked questions of our clients. And unfortunately, it’s one of the most difficult questions to answer.
We hire medical specialist experts, life care plan experts, economists, and other professionals to help us evaluate the value of your car accident claim. With the advice of our experts and from our over 30 years of experience, we can advise you on a general range of the settlement value or expected jury verdict of your case. We base our advice on many factors, including:
- Past medical expenses
- Lost wages
- Future loss of earning capacity
- Future medical expenses, including surgery
- Special medical equipment
- Physical therapy or occupational therapy
- Nursing care
- Damages for mental anguish, pain, and suffering, and lost enjoyment of life.
- Your age at the time of the accident and your remaining work years
Because Florida law allows for the recovery of damages, in some cases, through the rest of your life expectancy (for future medical bills) and work-life expectancy (for your future loss of earning capacity), the age of our clients at the time of the accident is an important factor.
Specifically, Florida Standard Jury Instructions 501.2 allows for the recovery of “the reasonable expense of medical care and treatment necessarily or reasonably obtained by the injured in the past or to be so obtained in the future.” Further, “any earnings lost in the past and any loss of ability to earn money in the future.”
How are Future Medical Expenses and Future Loss of Earnings Calculated?
Our life care plan experts rely on Mortality Tables to calculate the number of years of life expectancy and work-life expectancy. Data from Fair Health Consumer is used to estimate ranges of future medical care. And our economist experts rely on the wage history of our client to estimate the future loss of earning capacity. Then it is a matter of multiplication.
One of our recent cases provides a good example of calculating future medical expenses. Our client was a 37-year-old woman at the time of her car accident. Among other injuries, she suffered lumbar herniations at multiple levels, requiring prescription medication, chiropractic care, and many facet injections. She was recommended for lumbar surgery. After a comprehensive review of her medical records, consulting with her treating physicians, and interviewing our client, our life care plan expert estimated within a reasonable degree of medical certainty that with a 44-year life expectancy her future medical expenses are in the range of $800,000 (average annual medical expenses of $18,105 per year) to $1.1 million (average annual medical expenses of $25,142 per year).
Consult with a Tampa Car Accident Attorney Now
To learn more about your car accident claim and how your age impacts the value of your case, Hancock Injury Attorneys can help. Arrange your free case consultation with our Tampa car accident attorney by contacting us online or calling 813-915-1110.