Should You Settle Your Workers’ Compensation Case?
Settling a workers’ compensation claim is complicated. Not only do you want to recover from your injuries, but you want fair compensation. Even more difficult, your employer’s insurance company may extend a complex settlement offer. You need to be fully informed before considering a settlement offer. The experienced workers’ compensation attorneys at Brown Moore & Associates will help you make the best decisions for you and your family.
You and your attorney need a general understanding of common settlement agreements. Many cases resolve with a “clincher” agreement. This is a lump sum payment in exchange for a release of all liability. This ends your workers’ compensation claim, and all benefits you may be entitled to under North Carolina’s workers’ compensation laws. There are certain terms and conditions required for an enforceable clincher agreement. The North Carolina Industrial Commission – which administers workers’ compensation claims – must approve the agreement.. Clincher agreements are common because the employers and employees identify all the money that will be paid- no more uncertainty An experienced attorney can make sure the required terms are in the “clincher” agreement and that you receive fair compensation..
Medical costs are often your costliest expenses after an injury. An insurance company may press for an early settlement before you know the extent of your medical bills. Worse, an insurance company may even press for a settlement before your medical treatment is finished. You need to resist this premature offer. An optimistic prognosis may not be correct, but if you already accepted an early settlement offer, you will be unable to get more money. It is generally recommended that you refuse most settlement offers until you finish treatment and know your future prognosis and ability to return to work.
A good settlement offer will consider the future effects of your injuries. This goes beyond medical treatment. Your injuries may prevent you from returning to work or you may have decreased earning ability. A fair settlement offer includes these future losses by adding money for lost wages and disability. All of these, and other types of compensation, should factor into the settlement offer. Every case is different, and you should speak with an experienced attorney about your choices.
A settlement agreement can affect your other benefits. These may include Social Security disability payments, Medicare, Medicaid, and private insurance payments. An experienced attorney will help maximize your overall benefits and compensation.
The Team at Brown Moore & Associates is Here to Help
A workplace injury does not happen in a vacuum. During your recovery, medical expenses continue building, bills keep coming in, and wages are lost each day you cannot work. There are many moving parts in a settlement offer, don’t face the insurance company’s lawyers alone. Speak to our experienced workers’ compensation attorneys today about the best way to settle your claim.