Worker’s Compensation Calculator and What It Means
At its core workers, compensation settlement calculator is simple It is made up of three benefits. Disability payments, Medical Treatment and, in some cases, Vocational Retraining.
At some point in a Workers’ Compensation case, the employer to the insurance company will propose a settlement.
There ate three basic types of Workers’ Compensation settlement calculator:
- Payments of disability with medical treatment open for life
- Cash Lump Sum settlement settling all benefits including life long medical treatment
- Cash and/ or payments with medical open for life
Over the years Workers Compensation has been under legislative attack and the Injured Workers the BENEF IT S have been greatly reduced and made much more difficult to receive.
As a result, in many cases, it now makes more sense for an Injured Worker to settle their benefits for a Lump Sum Cash payment and take control of their medical treatment outside of the restrictive Workers’ Compensation system.
Once the case is settled in this manner the Injured Worker is free to access medical to cure and relieve the injury.
The money paid for Future Medical Treatment can be used to purchase a Health Insurance policy and can covet any co-pays.
In most cases, the Worker’s Compensation insurance company is willing to pay a cash settlement but at the cost of the Injured Worker giving up the legal right to limited disability payments over time and a lifetime award of medical treatment for the body parts injured at work.
Thus an injured Worker is often faced with a tough decision: T o settle for cash or to retain the limited benefits of disability payments and medical treatment.
At the core of the matter, the Injured Worker must ask themselves whether they are better off with cash than the Workers’ Comp benefit of future medical treatment.
Worker s’ Compensation settlements calculator can have very complex issues that must be resolved before a settlement can take place Sometimes settlement cannot occur until after a trial.
Other benefit programs like Social Security Disability, Medicare, State Disability, Private Disability policy and State Disability payments complicate the settlement It is important to draft the settlement language in a way that does not cause a reduction of other benefits.
In a case where the worker is injured by a negligent third party (i.e. delivery driver rear ended at a red light) the Injured Worker will maintain both a WC case as well as a Personal Injury Case In cases like that the ideal Workers Comp settlement is called a Third Party Compromise and Release Issues like the WC lien and credit against benefits must be addressed.
In cases where a large amount of o1 money for lifetime medical care is paid the insurance company often requires a Structured Settlement. In cases like this a Structured Settlement expert is retained to maximize life time payments A Structured Settlement, if negotiated correctly, is comprised of a cash payout and cash payments over the life of the Injured Worker. A provision in the settlement can ensure that payments continue to the Injured Workers family upon the death or the Worker.
Another important settlement factor that concerns Injured Workers is whether they can retain their job with the Permanent Disability that resulted from there work injury. Many employers discriminate against an Injured Worker and refuse to take them back to work.
Under both Federal and California law it is illegal to discriminate against disabled people at work An employee must make a reasonable accommodation to allow the disabled worker to return to work under F HA, AD and Labor Code 132A If the employer violates these rights additional settlement funds can be negotiated to compensate the Injured Worker for the violation of their Constitutional right to Workers Compensation benefits.
In cases of severe injury or older worker s who are receiving Social Security Benefits including Medicare, special wording and provisions must be included in the settlement Document Often a Medicare Set Aside (MSA) is necessary to protect Medicare’s interests.
The alternative to a cash settlement is to be provided with payments for Disability open medical treatment to cure and or relieve the effects o1 the injury and its consequences.
A cash award can be obtained in this type of settlement by “Commuting” the payments into a lump sum In order to achieve this type of settlement a heating before the Workers’ Compensation fudge (WCI) is often necessary as the WC insurance companies do not like to part with their money The only requirement is that the judge must be convinced that a lump sum is in the best interest of the Injured Worker A trip to Las Vegas is not going to qualify but dental work, education, or debt payment are the kinds of basis for this award.
Eventually, almost every Workers’ Compensation comes to the point o1 settlement or resolution by trial Often the insurance company sends the Injured Worker a settlement proposal, either a cash buyout or a Stipulation With Request for Award, (payments and medical open), and payments of Permanent Disability over time.
These are just a few of the issues that must be considered by the Injured Worker in the decision to settle their Workers Compensation case and that is why Experience Counts.
With 30 years under my belt, you can be sure I provide that expertise and experience I consider it an honor to advise and counsel you and to represent you in your Workers’ Compensation case.
I handle each case I take personally and I always return e-mails and phone calls.
I am happy to provide a free consultation with no time limit
If you do choose to hire me my fee is set by the Worker s Compensation Judge and is 15% of your settlement If you have to have another attorney you still pay 15% and I will split the fee with your previous attorney
Once settled your share of the settlement is paid directly to you I never hold and disburse the clients’ money
Many Injured Workers are aft aid they will lose their job if they to contact an attorney
I assure you that our meeting will be 100% confidential with no obligation or pressure to retain me as I am happy to educate you about your legal rights for free
Joel M. Geller