Process for Receiving a Workers Compensation Settlement
It is hard on you and your family when you are injured in an accident at work. But when the result of that injury becomes something you have to live with the rest of your life, it can be devastating. To help you deal with the financial devastation, you could receive a workers compensation settlement.
Determination of maximum medical improvement (MMI)
The first step in the settlement process is for you and your doctor to determine that your recovery is as complete as it is going to get. If you have not fully recovered from your injury, but have achieved the best level of recovery possible, you have reached your maximum medical improvement (MMI).
Assignment of your permanent partial disability (PPD)
At this point, your doctor determines your permanent partial disability (PPD) rating. PPDs are typically assigned for the permanent loss of function in a part of your body. For example, if your injury means you can no longer lift your arm above your head, you have some percentage of permanent loss of function in your arm. Based on specific medical criteria, your doctor would assign your PPD or disability rating for that loss.
Calculation of your settlement offer
Next, your employer or your employer’s insurance company uses your disability rating to calculate a settlement offer based on a variety of factors such as your weekly compensation rate, the percent of disability, what part of the body is involved, how the loss affects your ability to earn a living in the future, how many remaining working years you likely have before retirement, and much more.
Evaluation of a settlement offer
Confer with your worker comp attorney in Jackson to evaluate the settlement offer. Typical workers compensation awards are paid out in a lump sum. However, the amount you receive in a settlement may not be enough to cover the costs you experience later in life. And if you accept a settlement now, you forfeit your rights of future recovery later. Carefully evaluate the settlement offer based on common sense questions.
- Is the lump sum payment fair based on the injuries I sustained?
- Does the offer account for the permanency involved?
- How will my injuries impact the rest of my life?
- What additional costs am I facing for daily living modifications or equipment?
- Does the settlement account for whether I can or cannot work again?
Workers compensation settlements have lifelong implications. You should discuss your case with a qualified workers compensation lawyer who specializes in on-the-job injuries. A skilled attorney can help you evaluate a settlement offer and maximize the compensation you receive as a result of your on-the-job injury.
This information provided by the Jackson worker compensation lawyers at:
Percival Law Offices, P.C.
219 North Parkway, Suite 1
Jackson, TN 38305
731-424-3897
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