Typically, workers’ compensation claims result in a lump sum settlement. However, the settlement value will vary based on many factors.
The insurance adjuster may offer a full and final settlement, permanently closing your case in exchange for a one-time lump sum. In most cases, this includes waiving the right to future medical coverage.
Get the Medical Care You Need
A workers’ compensation settlement is meant to pay for medical expenses and replace a portion of your lost wages while you’re out of work. Getting the medical care you need and keeping track of your expenses is important. This will help you maximize your settlement.
If you delay seeking treatment, the insurance company could use that as an excuse to deny your claim or offer a lower settlement amount. This is why getting medical attention immediately after your injury is so important.
In addition, it’s a good idea to see your assigned doctor or another medical professional if you are okay with the assigned one. This will allow you to request a different doctor.
It can also be helpful to keep track of all your associated costs, including out-of-pocket expenses like medications and parking lot fees. This will help you to prove the full extent of your injuries and associated expenses, which can increase your workers’ comp settlement. This is especially true if you have multiple injuries that affect your overall ability to perform your job.
Keep Track of Your Expenses
Expenses associated with your injury, as well as your loss of income, are all taken into consideration when workers’ compensation settlements are calculated. Depending on your state, there are different ways these settlements are structured- some use a ‘body part price’ that sets an amount for each injured body part, while others structure payments into weeks or pay per week that you were out of work.
Keeping track of your expenses is essential to winning a successful claim. This includes keeping receipts, keeping copies of all of your paperwork and notes related to the case, and recording mileage for all trips to and from medical appointments. Keeping these records may help you get reimbursed for some out-of-pocket costs, such as parking lot fees, over-the-counter medications, and gas bills.
It’s also important to keep track of any side jobs or overtime you have so that you can add these amounts to your average weekly wage calculation and ensure you get the maximum disability benefits you qualify for. In addition, if you are required to attend an Independent Medical Examination (IME), note that as well and save any reports.
Talk to a Lawyer
Having the right attorney can make all the difference in how much you receive as part of your workers’ compensation settlement. Look for an attorney familiar with workers’ comp claims and has experience winning cases in your area. You can also ask friends, family members, and coworkers who have used a workers’ comp lawyer for recommendations.
The severity of your injuries and how they impact your ability to work are key factors in determining a settlement amount. You may also have other expenses that affect your claims, such as medical bills, therapy appointments, prescriptions, and equipment needed to help you return to work.
It’s important to keep track of your expenses and other ways your injury or illness has impacted your life so you can get the best possible settlement. It’s also essential to seek appropriate medical treatment and follow your doctor’s advice. Taking these steps can show insurance companies that you are serious about your recovery and can help you maximize your workers’ compensation settlement amount.
Don’t Wait Too Long
It is important to immediately report your injury to your employer and seek medical attention. The longer you wait, the more suspicious your claim may seem to your employer and insurance company. This can jeopardize your chances of winning a successful claim.
The severity of your injuries and their impact on your ability to work, your medical expenses, and other factors can determine the amount of your settlement. It is also important to keep track of your expenses and records and consult with a lawyer who knows how to get you the maximum compensation possible.
A workers’ compensation settlement is the most common legal resolution for a workplace injury. It involves the liable party (usually your employer or insurance company) paying you a lump sum to cover your injuries and expenses. This type of settlement can be delivered in a single payment or structured, recurring payments.
Having proper documentation is essential for any workers’ compensation claim. You should keep copies of your medical records, associated costs, receipts for out-of-pocket expenses (parking lot fees, bandages, over-the-counter medications), and any other paperwork that relates to your injury or illness.
A comprehensive record is necessary to maximize your settlement amount. The right information and documents will give you a stronger case against insurance companies trying to minimize or deny your claim.
Injured workers deserve appropriate medical care and the money they need to support themselves while recovering. Unfortunately, the workers’ comp process can be complicated to navigate. It’s crucial to comprehend your legal rights, file a claim promptly, and partner with an experienced workers’ compensation attorney who can guide you through the process and advocate for the highest possible compensation settlement.