Almost 3 million people are injured in America every year as a result of workplace issues in the private sector alone. The gravity of that number sheds light on the fact that many employees get put in positions where they need to take time off to recover.
That time off can be expensive.
Your ability to get a fair workers comp settlement may be pivotal to taking care of yourself and your family
But how can you know for sure that the worker’s compensation claim you’re getting is fair? After all, in some years state and federal workers compensation claims can amount to almost 7 trillion dollars.
Are you getting your share of that money? Or are you a victim of worker’s comp providers trying to minimize their expenses?
Our Augusta, GA based legal team at Hollington Brown LLP has put together this reference to help you make sure you’re getting a fair claim.
Determine If the Money You’re Receiving Meets Your Needs
When you are disabled as a result of a workplace issue, your employer’s insurer who handles worker’s comp will offer you a workers comp settlement. This settlement means to account for the time you’ll spend out of work.
The severity of your work-related impairment directly affects the amount of money you’ll receive from a claim. You will need to decide to accept what you’re getting offered, negotiate a higher amount, or take the matter to court.
It’s important when making that decision to understand if the money you’re being offered will be able to account for all of your expenses. Consider what you’re liable for each month in the way of spending.
Will your worker’s comp claim cover your rent or mortgage? Will you be able to afford your electricity, water, gas, and internet? Are you going to be able to pay for groceries?
If you look at the amount you’re being offered and see that you’re going to experience a monthly deficit, it’s important that you fight for more money.
Remember, you gave your employer a lot of value in the way of the services you performed for them. It’s important that in return, they give you everything you’re entitled to.
Are You Getting the Type of Settlement You Need?
Workers compensation claims can come in two types. A lump sum or a structured settlement.
With a lump sum, you can get the full amount of money required to manage the extent of your injuries up front. This lump sum should account for your current and future medical expenses in addition to any disability benefits your employer needs to pay you.
If you’re urgently in need of financial assistance, a lump settlement can get you the immediate support you need.
With a structured settlement, payments get broken up via a pay schedule. You can expect regular checks in the mail to cover your disability, medical expenses and any future expenses you may incur as a result of your injury.
Many times you won’t be presented with the settlement option you prefer right away. In order to make sure your financial needs are taken care of you may have to negotiate your settlement type in addition to the amount you receive from that settlement.
Consider the Upside and Downside of Accepting Your Initial Offer
When you’re injured, you want to be able to focus on your recovery. Because of that, many times you don’t want to go through the trouble of fighting for additional compensation or a more favorable pay structure.
Ease of receiving your settlement as well as the speed in which you receive it can be an upside of accepting an initial offer. Still, you may be leaving thousands of dollars on the table.
Therein lies the chief downside of accepting an offer as it’s initially presented to you.
By accepting a workers comp settlement right off the bat you may open yourself up to needing to foot the bill for unplanned expenses related to your injury later on.
Because of that, it can be extremely beneficial to have a legal professional negotiate on your behalf in relation to workers compensation issues. A lawyer can help you maximize your financial support.
Remember this, accepting an initial offer presented by your employer can be a short-term solution to a potentially long-term problem. Taking the time to fight for what you’re entitled to is a future-focused approach.
Bottom Line: With a Workers Comp Settlement You Need to Be Aware of What You’re Entitled to and Ensure You Get It
Insurance providers do their best to pay out the minimal amount they have to as is required by the law in compensation claims. They also take advantage of recipient’s limited legal knowledge. Insurers will make you feel as though what you’re being offered is the best you’re going to get.
While not all initial workers comp offers are bad, it’s important to consider key factors when determining if you should fight for more.
Is the claim enough to cover your monthly expenses? Are you getting the settlement structure you want? Does your claim account for future medical and disability expenses you may incur?
Asking yourself those questions is key to making sure you’re not left without financial support later on down the road.
Help is Easy to Find
If you’re an employee navigating a workers comp settlement in Augusta, GA, in order to get everything you’re entitled to you’re going to have to seek legal help.
To that end, our team at Hollington Brown LLP has you covered.
Our legal experts have been fighting on behalf of workers all over Augusta for years. We help them maximize their claims and get them the full support they’re entitled to under the law.
If you feel like you may not be getting the full amount you could be getting from a worker’s comp claim, contact us today for a consultation on your case.