How Is a Workers’ Compensation Settlement Paid in Florida?

A Workers’ comp settlement is more than just some money you get when you’re injured. Getting injured at work can be quite painful and disruptive. It can lead to significant disruptions to your health, finance, and total wellbeing. One of the first thoughts that most workers who get injured at work have is how they will pay their bills if they’re unable to return to work.

Some worry that they may not be entitled to compensation if their injuries do not keep them off work completely. Fortunately, a worker can get workers’ compensation regardless of the severity of their injuries. If you are an injured Miami worker, our workers’ comp lawyers can represent you.

What Factors Affect a Workers’ Comp Settlement Claim?

Workers comp settlement is affected by a lot of factors. To get the best possible amount for your payment, you need to work with a workers’ comp attorney.

Here are factors that affect the value of a workers’ comp settlement:

  • Medical Costs

Workers’ comp claim is supposed to pay for all your ongoing and future medical costs for work injuries. Sometimes, it covers payment for physical therapies, psychological counseling, and alternative therapies like acupuncture. However, it does not cover experimental medical treatment.

  • Lost Wages

Workers’ comp policies make allowance for compensation for loss of wages. You can get between 60-80% of your wages, depending on your employer’s policy. Policy limits also apply to victims who receive a specialized form of compensation like commissions and bonuses.

However, it might be difficult to calculate lost wages for workers with specialized compensation, temporary workers, freelance contractors, and workers with irregular schedules. An experienced workers’ comp lawyer will help you figure out your benefits.

  • Out-of-Pocket Costs

Not all out-of-pocket costs get covered in workers’ compensation policies. Granted, out-of-pocket costs for prescribed over-the-counter medications and medical devices will get covered. However, the cost of transportation to appointments may not get covered. In addition, the amount covered differs from policy to policy.

  • Permanent Disability Advances

You can get an advance on your disability settlement which can get deducted from your final compensation settlement. The workers’ comp settlement process can take some time. Therefore, injured workers can get permanent disability advances for expenses pending when their workers’ comp settlement comes.

Types of Workers’ Comp Benefits in Florida

There are three types of benefits recognized under Florida workers’ compensation law. The benefits are identified based on the severity of injuries and length of time away from work.

  • Permanent Impairment Benefits

Depending on the doctor’s diagnosis, you may get permanent impairment benefits. For example, if your doctor diagnoses a loss of function or permanent condition, you will get a permanent impairment benefit. However, if you can return to work, your payment is rated between a range of 1-100%. The specific amount you will earn for your impairments can get calculated using the impairment calculator.

  • Permanent Total Disability Benefits

If you get a severe injury or illness from work that you cannot return to, you get permanent disability benefits. The benefits continue till you get to 75 years. The payment can extend beyond 75 if you are unable to get social security benefits. The amount you get for permanent total disability is two-thirds of your weekly wage, including the annual cost of living. The amount gets paid until you get to 62.

  • Temporary Disability Benefit

If a worker gets a work-related injury or illness that temporarily puts them off work, they get a temporary disability benefit. The amount is calculated as two-thirds of the weekly gross wage 13 weeks before injury. In Florida, a worker can only receive temporary disability benefits for 24 months. However, the period can get extended if they have not reached the maximum medical improvement after 24 months.

How Are Workers Compensation Benefits Paid?

Below are ways of paying workers’ compensation benefits:

  • Lump-Sum Payment

The employee receives a single lump sum payment covering all medical costs and benefits under the claim. Under this payment, the employee may not get any other compensation after the initial lump sum payment.

  • Structured Payment

Under this payment method, the employee receives a specified amount for a stipulated time frame. In addition, they may get a different amount for future medical costs. Usually, before settling, you and your attorney calculate what you think your compensation should be. After you’ve calculated your payment, you can then negotiate with the insurance company.

Get a Miami Workers’ Comp Attorney Today!

Workers’ comp settlement is a rigorous process involving negotiation. You do not want to settle for a lesser settlement when you could have more. You can prevent this by contacting an experienced workers’ comp attorney with Miami Lawyers 360. We will ensure you get the proper settlement that you deserve. Call us today to get started.

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