Worker’s compensation settlements often provide a large, up-front sum of cash, but clients should understand what they may give up. If a client has a worker’s compensation claim, they may wonder how much they will receive. Below is some basic information on settling these claims.
Settling Means Giving up Weekly Benefits
The first thing clients should know is that, if they settle the case, they will receive no more weekly benefits. Settling a worker’s compensation case closes the benefits portion of the claim, and clients should consult a Workers Comp Attorney in Vermont before entering the settlement phase.
Medical Payments Might Continue
Some areas require insurers to continue making medical payments after a claim is settled. However, other areas allow insurance companies to eliminate medical benefits with a successful settlement. Injured workers should check with the state’s worker’s compensation agency or a local attorney to determine whether the state allows continued medical payments after a claim settlement.
Settlements Must be State-Approved
Just because a client, their attorney, and the insurer agree to a settlement does not mean that the case is over. Most areas require the worker and the insurer to submit a settlement proposal to the state’s worker’s compensation agency for an approval. After a hearing and a judicial review, the settlement will be approved as long as it was done voluntarily. It is common for a settlement to be rejected if the judge believes the injured worker was not sufficiently compensated.
Estimating Future Worker’s Comp Benefits
Future worker’s compensation benefits depend on the case’s medical evidence and the length of time state law allows a worker to receive benefits. For instance, if a worker is ruled totally disabled for two years, after which they will completely recover, it would make no sense to settle for less than an amount equivalent to two years’ total disability payments. Even if the above does not apply, it may not make sense to settle because attorneys’ fees are deducted from the settlement amount. You can click here to get more details.
Worker’s compensation laws are complex, and most clients are ill-equipped to handle these cases alone. By having legal representation from a Workers Comp Attorney in Vermont with McVeigh Skiff LLP, an injured worker can increase his or her chances of gaining a fair recovery.