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  • 1.  Use of Discounts in LCP's

    Posted 12-23-2014 16:42
    This message has been cross posted to the following Discussions: Forensic and Life Care Planning - IALCP .
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    Good afternoon, colleagues.  I am seeing a rash of life care plans of late that rely on discounted pricing and collateral sources inapplicable to the specific case that will allegedly pay for future care items for decades in the future.  I know as part of our LCP training we were cautioned against using discounted pricing since they are usually unpredictable and seldom applicable to the "N=!," but I am looking for a more specific cite from a LCP methodology standpoint.

     Does anyone have anything more authoritative that discusses what most life care planners already know or should know?

    I appreciate the assistance.

     Bob

    Robert H. Taylor M.A., L.P.C., C.R.C., C.D.M.S., C.L.C.P.
    Director
    Vocational Diagnostics, Inc.
    3030 N. Central Ave., Suite 406
    Phoenix, AZ 85012 
    Phone: (602) 285-0625
    Fax: (602) 264-4838 
    bobt@vocationaldiagnostics.com
    www.vocationaldiagnostics.com



  • 2.  RE: Use of Discounts in LCP's

    Posted 12-23-2014 16:50
    Bob, it is clearly outlined in the standard of practice that we are to use costing resources that are reasonably available to the client/evaluee now and into the future. Collateral sources are not guaranteed and should not be utilized for life care planning purposes unless footnoted as an illustrative request, i.e. vaccine cases.

    I would also direct you to the consensus 10 majority statements as published in the Journal of life care planning volume 11:2

    Regards, 

    Cloie

    Cloie Johnson, MEd
    OSC Vocational Systems Inc
    10132 NE 185th St
    Bothell, WA 98011

    425-949-4406 direct dial
    425-486-8701 fax
    Sent from my iPhone




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  • 3.  RE: Use of Discounts in LCP's

    Posted 12-23-2014 16:59
    Robert, I agree with what you have said. I have just taken one of the courses from the University of Florida LCP Certification and that was stressed in the training. I am also quite sure that it was a topic in the "Life Care Planning and Case Management Handbook" It was identified as an inaccurate measure, and a disservice to the client of the life care plan. 

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    Philip Young
    philyoungmacrc@gmail.com
    Dallas, TX United States
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    Original Message


  • 4.  RE:Use of Discounts in LCP's

    Posted 12-23-2014 18:55
    This seems to be an evolving area as different states use various cases to set changing rules about what constitutes appropriate costing. It seems that there is not a universal method now.

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    Karen Preston, FIALCP
    Consultant
    rnsconsult@aol.com
    Sacramento, CA United States
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  • 5.  RE:Use of Discounts in LCP's

    Posted 12-24-2014 08:32

    Discounts are usually Loss Leaders, eg to bring in future business and do not represent consistent market pricing.  Collateral sources are dependent upon individual state

    Laws.  I have had the experience of Judges who allow collateral sources and it is again the job of the LCP to determine the reliability and validity of using these sources,

     




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