A trial must occur within 210 days, but oftentimes the case is settled sooner. You may receive workers’ compensation payments before the case closes depending on the employer and insurer. Having an attorney involved will ensure appropriate compensation.
Sometimes, the workers’ compensation insurer and the employee voluntarily agree to a lump sum settlement. This requires the insurer to pay a predetermined sum of money to cover all or part of its obligation to the employee. In most cases, the employer must also agree to the settlement. A lump sum settlement is typically a final resolution to a claim for cases where the insurer has not made any payments or accepted responsibility for the claim. If the insurer has compensated the employee and accepted responsibility for the claim, the employee’s continued right to medical expenses and rehabilitation cannot be settled. Instead, after the case has been settled, these expenses remain infinitely open. The insurer then continues to be held responsible for these costs.
Deciding whether or not to agree to a lump sum settlement can be a tough decision. It can be beneficial to both parties. On the one hand, the employee can use a lump sum payment to better themselves and their families. On the other side, the insurance company is usually able to close and not face any uncertainty regarding future expenses. However, this must be a voluntary agreement by both parties. Some factors to consider as the employee include your age, wages, training, work history, education, medical condition and ability to return to work.
How can an attorney from Keches Law Group help?
Again, a workers’ compensation lawyer can provide beneficial support in assessing a lump sum offer. He or she can evaluate all of the factors necessary to make a valuable decision. Often, insurers may offer lump-sum settlements as a way to pacify the employee. These offers are usually in the best interest of the insurer rather than the employee. An experienced attorney from Keches Law Group can provide proper legal counsel to ensure a fair settlement for the employee.
