How Do Workers Compensation Settlements Work?
When an employee gets physically hurt at work, they may qualify for workers’ compensation benefits, which can help cover their medical expenses and lost wages. In some cases, the injured worker might receive a lump sum settlement, depending on the nature of the damages.
If you’re considering pursuing a workers’ compensation settlement, it’s important to understand how the process works. The knowledgeable workers’ comp attorneys at Kogan & DiSalvo have provided valuable information on exactly how a workers’ compensation settlement works, how they’re calculated, and how to get started with the process.
Immediately Report the Accident
When an employee is injured at work, the first thing they should do is report the accident to their employer -before filing a claim with their respective workers’ compensation insurance carrier. Once the claim is filed, an adjuster will be assigned to the case. The adjuster will then investigate the claim and determine if the employee is eligible, and the amount of financial benefits they are entitled to.
This amount is based on several factors, including the severity of the injury, the expected length of recovery, and the employee’s wage history. Once the adjuster has made a determination, they will send a notice of benefits to the employee and their employer.
Seek Medical Treatment
Once the employee has reported the accident, they can seek medical treatment. Workers’ compensation will typically cover all necessary expenses related to the injury. This includes things like doctor visits, medication, and physical therapy. If the injury requires hospitalization or surgery, workers’ compensation will also cover these expenses.
Receive Temporary Total Disability Payments
In some cases, injured employees may be unable to work for a period of time. In most states, workers’ compensation benefits include temporary total disability payments. These payments are equal to a percentage average of what the employee earns weekly. The payments are typically made until the employee has reached full medical recovery and returns to work.
Receive Permanent Partial Disability Payments
In some cases, an injury may cause a permanent disability. If you suffered a permanent disability in your line of work, you may be eligible for permanent partial disability payments. Such payments are primarily meant to compensate the injured worker for their lost or reduced earning capacity. The amount of the payments is based on multiple factors, such as the severity and length of disability.
Negotiate a Settlement
In some cases, workers may be able to receive a lump-sum settlement instead of ongoing benefits. Settlements are less common than other types of workers’ compensation benefits, but they can be a useful option for some injured workers.
There are several key things to be kept in mind if you’re considering a settlement. First, settlements are typically only offered to workers who have attained maximum medical recovery. This means that the worker’s condition is unlikely to improve in the future, even with treatment. Second, settlements are generally only offered to workers who are completely disabled from working.
If you’re considering pursuing a settlement, it’s essential to seek expert legal advice from an experienced workers’ compensation lawyer. An attorney will not only advise you but also negotiate a fair settlement for you. They will also be able to offer guidance by answering all questions you may have about the legal process.