Frequently Asked Questions For lost wages
How are my Lost Wages Determined after my Accident?
Accidents often cause severe injuries, forcing their victims to miss work while they recuperate and attend Doctor’s Visits. An injured person loses out on money during the recuperation process as they receive partial or no payment from their employer while they are out of work.
If you have been injured in an accident caused by someone else, you may be entitled to compensation for the wages you lost while recovering. This is an economic loss that a qualified attorney can help you seek compensation for. Here at the Law Office of Dennis P. Ryan, we help you through the process of recovering your lost income and are ready to help you through each step of the way.
Depending on your level of income and employment status, there are a few things that you should take into consideration when calculating your lost wages.
Calculating Lost Wages
Lost wages are one of several types of economic losses for which you might seek compensation in a personal injury case. “Lost wages” are any income you lose as a result of your recovery time for an injury you received in an accident. These can play an important role in determining your overall compensation for an accident, so it's important that you understand how they are calculated.
What To Know Before You Calculate
There are steps to take before calculating your lost wages so that you can make sure your case is well documented.
- Gather medical proof of your disability. You will need to prove that your absence of work is due to the accident and the injuries that you suffered. You will need a Doctor to diagnose you with injuries, confirm your injuries are related to your accident and state that the injuries prevent you from returning to work. These documents can help prove how much work you missed as a result of an injury you received in an accident.
- Gather income documentation. You should also be prepared to provide documentation of how much money you would have made in the time you took off from work to recover. Often, this will come in the form of a paystub, timecard, or tax form, depending on the nature of your employment.
Calculating Your Losses If You Are An Employee
If you are employed and are seeking compensation for lost wages, there are several main ways these wages are calculated:
- Hourly workers will need to multiply the number of hours of work they missed by the amount of money they earn per hour. For example, if you make $50 an hour and were absent for five days of work (each day being eight hours long), you will multiply your hourly income ($50) by the number of hours missed (40) to calculate $2,000 of lost wages per week.
- Salaried workers When you are a salaried employee and have lost income the calculation is very straightforward. You can provide documentation of the amount of wages you did not receive as a result of being unable to work due to your injuries. The general rule of lost wages is that the number of hours you miss from work should correspond with the number of days you have been written out of work by your treating physician. If your doctor excuses you from work for 2 months, you can make a claim for 2 months of lost wages. You should also expect to provide documentation from your employer in the form of a wage verification or affidavit, signed by the proper party (manager, supervisor or someone in Human Resources) that indicates the dates you missed from work, the hours you were scheduled to work on the days you missed, the amount of money you would have made if you had worked the days you missed and a breakdown of your pay.
Calculating Your Lost Wages When You Are Self-Employed
Determining lost wages when you are self-employed is not quite as straightforward as determining lost wages for an hourly or salaried employee. Because your income is not as regular, you will have to provide the court with your own proof of income and pricing system. This documentation will often come in the form of tax returns, 1099 forms, invoices, and correspondence with your clients. You will probably need to present a copy of your work calendar to show what work you had scheduled for the time you had to be off because of your injuries.
- Although it can feel overwhelming to calculate lost wages if you're self-employed, we can walk with you through the process, answering your questions and providing helpful guidance along the way.
How does No-Fault Affect my Lost Wages Claim?
When you get injured in a car accident in New York, you will often file 2 separate claims: (i) a No-Fault claim for the first $50,000 of your medical expenses and lost wages and (ii) a Personal Injury claim/lawsuit against the other driver for your pain and suffering and any economic claim you have over $50,000.
- Under New York "No-Fault Law" the insurance carrier must reimburse you for your lost wages or income regardless of whether the accident was your fault. (New York Insurance Law section 5102). No-Fault will pay 80% of your salary up to a maximum of $2000 per month for a maximum of three years.
- If you earned more than $2,000 a month, your lawyer will have to claim the additional lost income from the other driver's insurance policy in the lawsuit against the at-fault driver or owner of the other vehicle. You would only be entitled to economic loss in a car crash lawsuit if you exhaust the $50,000 in Medical Expenses, Lost Wages and other Reasonable and Necessary expenses (capped at $25 a day). If you have not exceeded $50,000 in Economic Loss, then your economic claim will be reduced to what your own No-Fault Carrier has paid you.
How does Worker's Compensation Affect my Lost Wages Claim?
When you get injured in the course of employment you can file a claim with your employer's Worker's Compensation claim for your lost wages and for your medical bills.
- http://www.wcb.ny.gov/content/main/Workers/LostWageBenefits.jsp#:~:text=Lost%20wage%20benefits%20are%20not,you%20were%20unable%20to%20work.
- You may also have a claim against a 3rd party who caused your accident. This claim can be both for pain and suffering and economic loss. In order to determine how much economic loss you have, you must determine the difference between how much money you would have made if the accident hadn't happened and how much you received from Worker's Compensation. You should consult with an Injury Attorney to help you determine how much your lost wages claim is.
Call Law Office of Dennis P. Ryan Today
If you or someone you know has lost income as a result of recovery time for injuries received in an accident that wasn’t your fault, you may be entitled to compensation for your lost wages. The personal injury lawyers at Law Office of Dennis P. Ryan are ready to help. We’ve been representing clients just like you for many years, working to secure compensation and bring justice to every case we take on.
If you’re ready to partner with us, give Law Office of Dennis P. Ryan a call today at (212) 441-4352.
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