Should I settle my workers’ compensation claim?



Whether you work in a hospital, warehouse, office, or restaurant, you are always at risk of sustaining a job-related injury. These incidents can change your life in the blink of an eye. Suddenly, you may have to deal with huge medical bills and rehabilitation costs, and you may not be able to work while you recover. Luckily, there is something that might save your life and your finances during this challenging time in your life – workers’ compensation.

After a work-related injury, workers’ compensation benefits can help you cover medical costs and lost wages during rehabilitation. Usually, you will receive these benefits weekly or monthly, but the insurance company may offer to pay you a lump sum instead.

Initially, accepting the money may seem appealing. However, before doing so, you should consider the pros, cons, and long-term repercussions of settling your workers’ compensation claim.

What is a workers’ comp settlement?

A workers’ compensation settlement is a lump sum payment encompassing all of the disability benefits available to you due to your injury. It should include all of your weekly disability payments, your remaining disability benefits, and all unreimbursed medical bills.

Alternatively, you can negotiate a particular settlement that provides payments over a period of time. However, these types of deals are infrequent.

Keep in mind that you will not waive your rights to future medical care by accepting a settlement. For example, let’s say you suffered a brain injury at work, which seemed to have fully healed after a few months. Even if you accepted a settlement, you would still be entitled to payments for the medical treatment you need if your injury returns afterward.

There are many different types of claim services available to those who have been injured on the job. Worker’s compensation is one type of claim service that can help workers get the medical treatment and financial assistance they need. Another type of claim service is disability insurance, which can help workers who are unable to work due to their injuries.

Pros of settling your workers’ compensation claim

Settling your workers’ compensation claim can bring you several significant advantages:

  • By accepting a settlement, you will not have to deal with the uncertainty of going to a workers’ compensation hearing. In these cases, you will have to abide by the judge’s decision. Sometimes, this may be less than what the insurance company offered you. It may not happen often, but it’s still a risk.
  • If you accept a settlement, you will save yourself the frustration, confusion, and anxiety of negotiating with the insurance company or waiting for a hearing.
  • Settling your claim may be the only chance you have to get a lump sum payment. In some states, you may only receive weekly payments after a judge decides the amount you will receive.
  • In some cases, the insurance company might offer to pay you to give up future benefits that you may not need. For example, if there is a 10% chance that you will need surgery, you may be able to get part of the cost of surgery in your lump sum.

Cons of settling your workers’ compensation claim.

On the other hand, there are some disadvantages to settling your workers’ compensation claim:

  • If you are not well advised by a Los Angeles workers’ compensation attorney, you may find yourself accepting a monetary settlement that seems fair initially but is not enough to cover all of your medical expenses.
  • By giving up certain future benefits, you will be assuming significant risk. If you end up needing the unlikely surgery, you will have to pay out of your own pocket to afford it.

Be careful – Talk to an attorney before settling your claim

No matter how good the settlement offer appears to be, you should always consult with a Los Angeles workers’ compensation attorney, such as C&B Law Group, before accepting it.

The attorney will analyze your case in depth and help you determine if accepting a settlement is the best decision for your case.

Most workers’ compensation attorneys offer free consultations. If you still have questions about the process, calling an attorney may be a good idea.

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