Future Medical Settlement Calculation

[Bswartz]

Good afternoon. So I recently went to my PPD rating. I'm about to start settlement negotiation with work comp. I've already figured out the formula for figuring out the lump sum payment. The problem I'm having is figuring the calculation/ formula they use for calculating future Medical. Can anyone help me please. I be looking at monthly doctor visits and prescription cost thank you in advance.

[tony]

Bswartz

The problem I'm having is figuring the calculation/ formula they use for calculating future Medical.

That's because there is no "formula" - It's an estimate based on your medical records and other factors, its not an exact figure.

Future medical is based on a number of factors like your age, the type of injury, how well you've healed, your Impairment Rating, the last years medical expenses, your treating doctor's prognosis, etc.
Also, if you're Medicare eligible, the carrier will have to submit a Medicare Set Aside proposal for approval to protect Medicare's interest
All you can do is see what they offer and decide if that'll work for you.

This is another reason to have an attorney, he can work with the medical specialists and your treating doctor to determine the approximate value of your future care.
Determining future medical cost is complicated, attempting to handle this yourself may cost you the farm - If you don't know what you're doing, now's the time to hire a lawyer.

Tony