KW Economics prepares life care plan costing for personal injury cases venued in Alaska: what the loss claim consists of, the records that drive it, and a present value built to Alaska damages rules and venues. Plaintiff and defense.
For a personal injury claim the life care plan supplies the future medical and care items, and the economist's role is the economic translation of those items into a present value that reconciles with the plan. Each item's frequency, duration, and unit cost is carried forward with the medical cost growth appropriate to its category, summed year by year over the applicable life expectancy, and discounted with the rate stated. The result can stand alone or enter an integrated damages report on the same growth, discount, and life expectancy assumptions as the earnings and household services components.
Reduction of a life care plan's line items to a single present value. The plan's items, frequencies, durations, and unit costs are carried forward with medical cost growth appropriate to each category, then discounted over the applicable life expectancy. Plan authorship stays with the life care planner; our role is the economic translation of the plan into a damages figure that reconciles with the plan and can be examined item by item.
Which component dominates depends on the person's age, occupation, and residual capacity. For a young worker who can no longer perform a skilled trade, future earnings loss over a long worklife usually outweighs everything else. For a person who returns to work at reduced hours or lower pay, the loss is the gap between the but-for path and the post-injury path, and the size of that gap is the contested question. Where a life care plan exists, its present value is often the largest single figure in the report, and household services losses can be substantial when the injured person did most of the home's unpaid work.
Alaska's trial judges act as gatekeepers for expert testimony and ask whether the economist is qualified by training and experience, whether the method is one the profession has tested and accepted, and whether it was applied reliably to the facts of the case. A damages report meets that inquiry by naming the published source behind every rate and table and tying each assumption to the record.
Highest court: Alaska Supreme Court. Court system: courts.alaska.gov.
Federal venues: District of Alaska.
Outside the civil courts, wage-loss disputes in workers' compensation matters proceed before the Alaska Workers' Compensation Board.
Alaska pairs a wrongful death action, measured by the loss to the surviving spouse, children, or dependents, with a survival action for the decedent's own claims, and when no dependents survive the recovery runs to the estate on a different measure. Collateral-source payments reduce the award after verdict except where the source holds a subrogation right, and prejudgment interest runs on tort awards from a defined accrual point, so the interval between injury and judgment is part of the economic picture.
We issue the final report and provide deposition and trial testimony, rebuttal of opposing present value opinions, and revaluation when the plan is updated.
For a personal injury claim the life care plan supplies the future medical and care items, and the economist's role is the economic translation of those items into a present value that reconciles with the plan. Each item's frequency, duration, and unit cost is carried forward with the medical cost growth appropriate to its category, summed year by year over the applicable life expectancy, and discounted with the rate stated. The result can stand alone or enter an integrated damages report on the same growth, discount, and life expectancy assumptions as the earnings and household services components.
Alaska's trial judges act as gatekeepers for expert testimony and ask whether the economist is qualified by training and experience, whether the method is one the profession has tested and accepted, and whether it was applied reliably to the facts of the case. A damages report meets that inquiry by naming the published source behind every rate and table and tying each assumption to the record. Personal Injury cases venued in Alaska are heard in the Superior Court (General jurisdiction trial court; handles all civil and criminal matters), with final appeals to the Alaska Supreme Court. Matters within federal jurisdiction proceed in the District of Alaska.
Alaska pairs a wrongful death action, measured by the loss to the surviving spouse, children, or dependents, with a survival action for the decedent's own claims, and when no dependents survive the recovery runs to the estate on a different measure. Collateral-source payments reduce the award after verdict except where the source holds a subrogation right, and prejudgment interest runs on tort awards from a defined accrual point, so the interval between injury and judgment is part of the economic picture. The report presents past and future amounts separately, states every rate and table with its source, and shows the result under the alternatives the other side is likely to argue, so counsel can apply the Alaska rules to a documented figure.
Request a consultation on Life Care Plan Costing or call (201) 343-0700. Plaintiff and defense counsel.