If you are receiving benefits, you may be entitled to a lump sum settlement from the insurance company. Insurance companies prefer that you not have an attorney so that they can settle your case for less money. Only an experienced workers’ compensation attorney will be able to accurately gauge how much your case is worth, and ensure you receive everything to which you’re entitled. In most cases, an experienced attorney will be able to obtain a larger lump sum after the deduction of attorney’s fees; then you would be able to obtain by settling your claim with the insurance company.
The settlement of a workers’ compensation claim can be much more complicated than it first appears. Particularly if you are receiving, or may become eligible for Social Security disability, retirement, or Medicare benefits or if you have received short-term disability or long-term disability benefits. Additionally, the claim becomes increasingly complicated if some of your medical bills have been paid by private health insurance, Medicare, Medicaid, Public Assistance, or some other insurance program. If any of these benefits or insurance programs are or may be involved, and they are not properly accounted for in the settlement, you may lose those benefits, or, worse, have to pay them back for benefits received. Before you sign any settlement agreement, you should consult with a workers’ compensation lawyer.
If you have any more questions or concerns, please call us for a free consultation.