When Will Workers’ Comp Offer a Settlement?
If you were injured at work in Florida, you may wonder when you’ll receive a workers’ compensation settlement. It’s a common question, and the answer depends on a few important factors. This article explains when workers’ comp may offer a settlement, what can affect the timing, and what to do to protect your rights.
What Is a Workers’ Comp Settlement?
A workers’ compensation settlement is an agreement between you and the insurance company that concludes your claim in exchange for a lump sum or structured payment. This payment is meant to cover things like lost wages, medical bills, or permanent injuries caused by a work-related accident.
Most settlements close the case for good, meaning you usually can’t go back and ask for more money later. That’s why it’s important to understand when and why a settlement might be offered. A settlement is a final agreement between you and the workers’ comp insurance company.
Factors That Can Affect the Timeline of a Workers’ Comp Settlement
There is no way to accurately predict when a settlement will be offered. However, there are indicators of when it might happen:
After You Reach Maximum Medical Improvement (MMI)
MMI is when your doctor decides that your condition has improved as much as it can, even if you’re not 100% better. Once you reach MMI, it becomes easier to understand how serious your injury is and what long-term care you might need. The insurance company is more likely to offer a settlement at this point because your treatment plan and future costs are more predictable.
When the Insurance Company Wants to Close the Claim
In some cases, insurance companies want to close cases quickly to avoid paying future medical costs. If they believe they can settle the case for less than they’d pay over time, they might offer you a lump sum. This can happen even before you reach MMI, but it’s important to be careful with an initial offer. Insurance companies often offer early settlements to save money, but these can leave injured workers without enough compensation to cover future medical or financial needs.
When You or Your Lawyer Start Negotiating
You don’t have to wait for the insurance company to make the first move. You or your lawyer can begin settlement talks when it makes sense. This often happens when you and your doctor clearly understand your injury and its impact on your life and work. Settlement talks often start when both sides understand the full extent of your injury.
What Factors Affect the Timing of a Settlement?
Several things can affect when a settlement is offered:
- The severity of your injury: More serious injuries often take longer to treat and evaluate.
- How long your treatment lasts: If you’re still healing, a settlement might be delayed until your condition is stable.
- Disputes about your claim: A disagreement about whether your injury is work-related or how much you should be paid can delay a settlement.
- Legal representation: An experienced workers’ comp lawyer can help move the process along and ensure that you don’t settle too soon or for too little.
Every case is different, and many factors can affect how soon a settlement is offered.
Should You Accept a Workers’ Comp Settlement?
It might be tempting to accept a quick payment, especially if you’re out of work. But before saying yes to a settlement, consider these questions:
- Will this cover my future medical needs?
- What if I need surgery later?
- Will I be able to return to work?
- Have I reached MMI?
Because most settlements are final, it’s a good idea to talk to a workers’ comp attorney first. They can help you understand if the offer is fair or if you should negotiate for more. Always make sure a settlement fully covers your needs before accepting it.
Contact the Jacksonville Workers’ Compensation Law Firm of Baggett Law Personal Injury Lawyers Today For Help
For more information, please contact the Jacksonville and Ponte Vedra workers’ compensation law firm of Baggett Law Personal Injury Lawyers at the nearest location to schedule a free consultation today.
We serve Duval County, St. Johns County, and its surrounding areas:
Baggett Law Personal Injury Lawyers – Jacksonville
9471 Baymeadows Rd #105,
Jacksonville, FL 32256
(904) 396-1100
Baggett Law Personal Injury Lawyers – Downtown Jacksonville
121 W Forsyth St Suite 1000,
Jacksonville, FL 32202
(904) 822-4225
Baggett Law Personal Injury Lawyers – Ponte Vedra
480 Town Plaza Ave #130,
Ponte Vedra Beach, FL 32081
(904) 675-1167