Settlements are typically how workers’ comp cases end. Workplace injuries can be quite severe. According to the US Bureau of Labor Statistics, 5,280 workers died due to a workplace injury in 2018. As such, when you sustain a workplace injury, many questions run through your mind. How severe is this injury? Will I be able to get back to work? Fortunately, the Job Safety Law of 1970 laid the ground for workers to claim compensation for a workplace injury.
This article explores how long it takes to reach a settlement and what factors could delay or speed up settling. If you or anyone you know have sustained a workplace injury, contact us at Miami Lawyers 360 today, and we will help you or them get fair compensation.
How Long Does It Take To Reach a Settlement?
When you file a workers’ comp claim, and your claim meets all the requirements, your company’s insurance carrier will likely offer you some payment. Usually, this payment should cover your medical bills. Typically, the entire settlement process can take about 12 to 18 months. If you do not have legal representation, you might end up getting your claims within 12 months.
However, an experienced lawyer will probably negotiate for much longer to ensure that you get fair compensation. The process could take as long as 16 to 18 months. You can trust that a professional workers’ comp lawyer will negotiate a more favorable settlement.
What Factors Could Affect Getting Your Settlement?
The following factors would affect your workers’ comp settlement:
Reporting the Incident
You must report your workplace injury as soon as it occurs or as soon as possible. This is because improper documentation of the wound could stall the process of getting a settlement. In some companies, you cannot file a claim for workers’ compensation after a given period. As such, you should file as soon as you can to ensure that your claim isn’t stalled or null.
Reaching Maximum Medical Improvement
Insurance companies would prefer to settle before you reach Maximum Medical Improvement (MMI). This is because you probably cannot determine how much more you would spend on medical expenses in the future. As such, they can propose a settlement that might be less than you would need to spend. If they settle after you have reached MMI, you can send them all the bills, and they will have to pay in full for your treatment.
Response Time of the Insurance Company
In some cases, the insurance company might want to delay their response. This is because they might be hoping to wear you out, so you will accept whatever compensation they offer you. If they delay their response to you, you just might take a smaller claim without a negotiation. This is why it is important to get a lawyer to review the settlement they offer you and negotiate a fairer amount if what they are offering is not adequate.
What To Consider Before Accepting a Settlement
While workers’ comp cases differ from each other, it can be quite hard to calculate just how much you would have to spend on medical treatment for a workplace injury. Several factors would affect this. Will your insurance policy cover your medical treatment? Or would you need expensive treatment in the future? Contacting an experienced personal injury lawyer will help you ensure that your employer’s offer will cover your treatment.
You should also consider what sort of settlement the insurance company offers you. There are two types of compensation you can get. A full and final release of liability settlement settles your claim completely. When you accept this, you can not claim further benefits. A partial release settlement leaves room for you to receive some medical services after the payment still. However, this is very rare. It means you need to be sure that whatever amount the insurance company is offering will cover all your medical expenses.
How Much Am I Getting Paid?
Calculating workers’ compensation does not have a one-size-fits-all formula. There is no one amount that anyone is paid for any injury. The insurance company calculated workers’ compensation based on several factors. These include:
- What type of injury you sustain
- The severity of your injury
- The amount your medical treatment costs
- Whether you would be capable of going back to work
- Whether the injury caused a permanent or total disability
- Whether you will require future medical treatment
- How much future treatment would cost if needed
Speak to a Workers’ Comp Attorney
To reach a fair settlement, you should speak to an experienced workers’ compensation attorney. Our attorneys at Miami Lawyers 360 have years of experience in negotiating workers’ compensation claims. We understand what steps to take to negotiate a favorable settlement for you. Contact us today to get started.