In our previous discussions about the two medical malpractice cases in the videos (the breast cancer case and the HIV/AIDS case), Professor Custin brought up the Medical Injury Compensation Reform Act (MICRA), which was instated in 1975. Since the year it was put into effect in 1975, MICRA had a $250,000 cap for California and a $100,000 cap for Florida, which were never adjusted to inflation for all these years. According to the Inflation Calculator(only up to 2008), here is how much what MICRA cap amounts are worth today :
California:
1975: $250,000 ----> 2008:$1,040,292.19
Florida:
1975: $100,000 ----> 2008: $416,116.88
As you can see, the caps are suppose to be increased about 4 times if they were to be adjusted to inflation. And because the inflation calculator only goes up to 2008, it should be a bit more for the amounts listed above.
Wow! I can't believe it! I'm so glad you looked these up! I think someone should seriously do somthing about it! I know life is not fair but there is proof that the CAPS we currently have are completely out of date and we should keep up with the times.
ReplyDelete-Grisell Martinez