Workers compensation settlement offers are not always fair. That is why injured workers need a lawyer. Ideally, it is practical to try and settle cases. Otherwise, the worker goes on receiving a weekly check and medical payments. A settlement helps the worker move on with their life. If the insurer does not talk settlement, the lawyer can file for a hearing to try and force the settlement. Unfortunately, the judge’s award may be less than an insurer’s offer.
Most settlement negotiations center around the type of injury. Additionally, a settlement will be more if the injury is permanent. Workers Compensation Lawyers in Port St. Lucie FL will try to get the best offer. There are a couple of different types of settlement. One may opt for a structured settlement or a lump-sum amount. Structured settlements are generally reserved for larger amounts of money. The insurance company makes a sizable up-front payment. Afterward, the client may receive a certain amount per year until the total amount is paid. There are those who prefer this type of settlement.
What are settlement offers based on? A large part of the offer reflects the permanent impairment. Each state establishes how much permanent impairments are worth. The impairment usually equals a certain amount of weeks. Therefore, the pay-out amount is equal to the weekly check amount times the number of weeks. Further, the offer is based on an estimate of the worker’s future medical needs. The insurer takes work restrictions into consideration. Indeed, work restrictions may limit an individual’s chances to work again. Moreover, the worker is giving up future medical treatment. This should add to the settlement figure.
Are there those who should not settle? The Workers Compensation Lawyers in Port St. Lucie FL may advise those with very serious injuries not to settle. These workers may need expensive surgeries or medications in the future. It is hard to get health insurance companies to pay for pre-existing conditions. In addition, some people may think they will waste the settlement. They will need money because it may be hard to find work. If you are injured and need help, visit Matheson, Horowitz & Devonmille.