Everything about Settling a Workers Compensation Claim

Your workers comp settlement can provide you with a lot of money, but make sure that you understand what you may miss after settling this claim. Contact a reliable lawyer who will guide you through the main pros and cons involved.

  1. No weekly benefits. As soon as you agree to settle your workers compensation claim, you will stop receiving them because this stop closes this case stage.
  2. Your medical payments may continue. Some states require insurance companies to keep paying these medical benefits even after this type of settlement, while others terminate them. Everything depends on your place of living, so contact local attorneys to understand what you will get. Do not forget that insurance companies are reluctant to keep paying medical benefits as soon as claimants settle their case. They have their right to file a new claim to force insurers to cover their healthcare expenses.
  3. This settlement must be approved by state agencies. If you and your insurer want to settle a workers compensation claim, this doesn’t mean that you can do this. That’s because a special paper must be submitted to state agencies for their approval first. They set up a hearing where your future settlement will be reviews. If judges are satisfied with its terms and conditions, it will be approved. At times, they may reject it if there are enough proofs that injured victims won’t get enough money in the end.
  4. an injured hand against a work injury claim formLearn how to determine the right amount of your workers compensation settlement. These benefits are not connected with pain and suffering, and that’s why there are only two basic aspects used to calculate its value. Keep in mind the amount of your future benefits and the likelihood to receive them.
  5. Find out how to estimate the amount of your future workers comp benefits. They are based on the medical records included in your case and their possible duration. For example, some people have a total disability, while others get only a temporary one.
  6. Think about the likelihood of getting these benefits. The settlement amount you get depends on this fact, so it is always best to use the expert opinion of at least a few doctors because their terms may differ. The longer its duration, the higher benefit amount you will get.
  7. Be aware of what to do if you are totally disabled. You won’t be able to work for the rest of your life, so make sure that you are getting the best settlement.