Reading Workers Comp Settlement Lawyer
Determining the average workers’ comp settlement is no easy task. Generally speaking, there is no average settlement, as it depends on the severity and the nature of the injuries sustained in the workplace. However, there are ways to determine how much compensation you may be entitled to. Below, our Reading workers comp settlement lawyer outlines the various benefits and how they are calculated.
Medical Expenses
A portion of your workers’ compensation settlement will include the medical expenses related to your injury. These can include blood work, doctor’s appointments, medication, ER visits, follow-up care, and medical equipment. Workers’ compensation should also cover deductibles and copays. If you need to accommodate your vehicle to accommodate the injury, that coverage is also included in your medical expenses.
Lost Wages
If you cannot return to work due to your injuries, you are entitled to a portion of your lost wages. These are known as disability benefits. Disability benefits can be either permanent or temporary, depending on the amount of time that you miss from work.
Specific Loss Payments
You may have a right to specific loss payments for injuries that resulted in hearing or vision loss, a lost body part, or permanent disfigurement of the head, neck, or face.
Death Benefits
When an employee does not survive a workplace accident, their loved ones can receive death benefits. These include up to $3,000 for the funeral and burial costs. A petition for death benefits must be filed within three years of the employee’s death and they must be paid within 300 weeks of the accident that resulted in injury.
Lump Sum or Structured Settlements
While no one can determine how much your workers’ compensation settlement will be, some studies have suggested that the average settlement is approximately $20,000. After determining the type of disability you suffered and your settlement has been negotiated, you will have to determine how you would like the settlement to be paid out. You have two options: a lump sum payment or a structured payment.
A lump sum settlement payment may be better for you if you have reached maximum medical improvement and do not wish to continue on in the disability process. Still, there are many benefits to structured settlements, as well. For some, structured payments make the money easier to manage and there are no tax implications associated with structured payments as there are with lump sum settlements. Regardless of the type of settlement you choose, it is important to work with a lawyer who can ensure you receive the compensation you need moving forward.
Our Workers’ Comp Settlement Lawyer in Reading Can Help with Your Case
If you were hurt while on the job and your medical bills are piling up while you cannot return to work, our Reading workers’ comp settlement lawyer at Ira H. Weinstock, P.C., can help with your case. Call us now at 717-238-1657 or contact us online to request a free review of your case and to get the information you need.
