When should an injured worker settle their workers’ compensation claim?

Syracuse, NY—When an individual suffers a work-related injury or illness in New York and is placed on workers’ compensation, they are usually entitled to collect medical and wage replacement benefits. With these benefits, a person can obtain the medical care they need so as long as is required to treat their work injury or illness and is rendered by an authorized physician.

In addition to receiving medical benefits, an injured worker might also be entitled to collect wage replacement benefits if their work-related injury or illness prevents them from returning to work for more than seven days. Wage replacement benefits are calculated using:

• The employee’s average weekly wage for the previous year.
• The degree of their disability. Are they totally disabled or partially disabled?

 

Workers’ compensation benefits are provided for an extended period of time so as long as the injured party complies with the insurance carrier’s requirements and can show they need them. Now, if an injured worker is offered a settlement from the insurance company, this generally means the carrier is looking to provide them with a lump sum in exchange for allowing their case to close.

 

Things to consider after being offered a workers’ compensation settlement

 

If the insurance company decides to offer an injured party a settlement, they need to be aware of the following:

 

• Their claim will likely close, and any medical treatment they need rendered will no longer be covered by their employer’s workers’ compensation insurance company.

While some individuals might not find this to be a problem, it can be for those who may need ongoing care or surgery in the future. If the insurance settlement doesn’t cover future medical costs, an individual may not be able to afford the treatment they need later on. However, if they continue to receive workers’ comp benefits rather than settle, then this medical treatment should be fully covered.

 

• After a settlement is accepted from the insurer, wage replacement benefits will cease.

Once ties are cut with the insurance company, wage replacement benefits will also stop. While an individual may be able to survive off their settlement without returning to work, they are going to want to weigh the cost of living and how much they are receiving before making a decision.

Once an individual is taken off workers’ comp, they may be expected to return to work. However, if their condition interferes with their ability to do so, they need to be sure their settlement will allow them to satisfy their monthly financial obligations.

 

Before accepting a workers’ comp settlement, contact a Syracuse, NY workers’ comp lawyer.  

 

Because there is so much to consider regarding accepting a workers’ comp settlement, individuals are encouraged to seek legal advice from a reputable Syracuse, NY workers’ compensation lawyer. A NY workers’ comp lawyer at Stanley Law would be happy to review with an individual the pros and cons of accepting a settlement and assist them with making an informed decision.

Stanley Law does offer free consultations to injured workers and can be reached at 1-800-608-3333.

 

Stanley Law has multiple offices in Central New York that are located at:

 

Syracuse Office

 

215 Burnet Avenue

Syracuse, NY 13203

Phone: 1-800-608-3333

Website: www.stanleylawoffices.com

 

Binghamton Office

 

84 Court St., Ste 414

Binghamton, NY 13901

 

Watertown Office

 

200 Washington St., Ste 407A

Watertown, NY 13601

 

Rochester Office

 

510 Clinton Square, Ste 521

Rochester, NY 14604

 

Montrose Office

 

22 Public Ave

Montrose, PA 18801