Workers may be thrilled when a settlement offer arrives from their workers' compensation insurer. It's important, though, to be paid what you deserve and not just take the first offer. In many cases, it is far too soon to even consider an offer. To find out more about this common workers' comp issue, read on. 

How Workers' Compensation Settlements Work

The worker may be offered a settlement from the insurer. A settlement means the worker agrees to accept a certain amount of money. In many cases, the worker is unable to return to their previous job. In cases of severe disability, workers may be unable to work at any job. The amount the worker is paid should be enough to cover their income, if possible.

Premature Settlement Offers

Some workers' comp insurers offer hurt workers an early settlement. This may seem like a good thing, but it seldom is. Workers may not evaluate the offer properly and the offers are often inadequate. One big problem is that it may be too soon to know the full extent of the worker's medical situation. Some injuries take longer to heal. Some could require more medical treatment in the future. However, the most harmful aspect of an early offer may be that it catches hurt workers off guard. They may accept the offer believing they have no other choice.

How to Handle Early Offers

Most workers are unaware of how much they should be paid in a workers' compensation settlement. The amount required can be an extremely complex issue because several factors must be taken into consideration. For example, many workers are unaware of these aspects of a settlement:

• The worker may not have reached maximum medical improvement (MMI). This status is important because it provides detailed information about the worker's level of disability.
• The worker may not realize what they can and cannot do in terms of work tasks.
• The worker may not realize how much money they need to live on for the remainder of their working life.

And more.

Get Legal Help

As soon as an offer from the insurer comes in, speak to a workers' compensation lawyer. They understand how settlements work and they can help you know how much you should be paid. They can help you see what effect accepting an early settlement can have on your future.

Speak to a workers' compensation attorney to find out more before you accept a settlement.

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