When Will Workers’ Comp Offer Me a Settlement?

The question, “When will workers’ comp offer a settlement?” is one many injured workers ask, but the answer isn’t simple. It’s hard to predict when—exactly—the insurance company will decide to offer a settlement. Even then, just because a settlement is offered does not mean you should accept it.

A settlement can replace weekly benefits with a single lump sum, allowing you greater financial freedom and more control over your recovery. At the same time, the insurance company no longer needs to administer regular payments and can close out your claim.

However, when you accept a settlement offer, you essentially give up your right to pursue any additional compensation related to your work injury. If the amount is sufficient, accepting an offer may be a good decision, but when it’s not, you could end up in a difficult financial situation down the line.

At Colling Gilbert Wright, we understand how complicated the workers’ compensation process can be, especially when determining the full value of your claim, negotiating with insurance companies, and ensuring your rights are protected. If you’re wondering, “When will workers’ comp offer a settlement?” our experienced and dedicated Orlando workers’ comp lawyers can help.

To discuss your claim over a FREE case evaluation, call Colling Gilbert Wright at (407) 712-7300 today. We are honored to represent our neighbors in Orlando and throughout Florida.

How Does Workers’ Compensation Work?

Workers’ compensation is a critical protection for Florida workers. It is a requirement for most companies that employ four or more people, although construction companies must carry insurance with just one employee.

Coverage is administered on a no-fault basis, meaning you are generally eligible for benefits even if the accident that caused your injury was your fault. However, you are required to report your injury to your employer within 30 days to remain eligible for benefits.

Once your employer has been notified, they are required to report your injury within 7 days to their workers’ comp insurance carrier. The insurance company will have a list of medical providers from who you can receive treatment. If you decide to see an unapproved provider, be aware that your expenses may not be covered.

The benefits you are eligible for depend on your injury. There are a few categories your benefits may fall under, including:

• Temporary Total Disability
• Temporary Partial Disability
• Permanent Total Disability

Once your doctor considers you at maximum medical improvement (MMI), you may also be eligible for impairment income benefits (IIB). Surviving dependents and spouses of workers who tragically passed away from their work injuries may also receive death benefits, including funeral expenses, compensation to surviving dependents, and educational resources for the surviving partner.

When Will Workers’ Comp Offer a Settlement?

When will workers’ comp offer a settlement? There is no exact moment in time when insurance adjusters offer settlements. In some cases, it happens after a worker reaches MMI, which helps clarify the long-term value of a claim.

In some cases, however, an insurance company may offer a settlement before MMI is reached. While they may claim this is for your benefit, it could mean they are concerned that your claim might be more expensive than they want to pay. You may also receive a settlement offer in the midst of an appeal for a denied claim if the insurance company believes the decision will be reversed.

Ultimately, regardless of when it is offered, the most important thing when evaluating a settlement is to ensure it is fair. Discussing your claim with a practiced workers’ compensation lawyer in Orlando can help clarify the best course of action.

Read More: Will Workers’ Comp Offer Me a Settlement?

What Is a Fair Workers’ Comp Settlement?

As we’ve said, a more relevant question than “When will workers’ comp offer a settlement?” is “What is a fair settlement?”

A fair workers’ comp settlement adequately covers the losses and expenses you have incurred as a result of your injury, along with any additional losses or expenses you are likely to encounter in the future.

As such, there are some critical expenses to consider when determining the value of your claim, including:

• Medical expenses, including surgeries, physical therapy, doctor visits, and medications
• Lost wages, including those you have not yet incurred but expect to in the future
• Permanent disability if you are unable to work due to your work injury
• Vocational rehabilitation if you require training or education to change your career path due to a permanent impairment

Understanding the value of these expenses—including those you have already paid and those you expect to pay in the future—will help you determine what a fair settlement might look like.

It is important to know that there is no set “fair amount.” The settlement amount that will be fair in your situation is completely dependent on your unique set of circumstances.

Read More: How Much Should I Expect from a Workers’ Comp Settlement?

How Do I Know If I Should Accept a Settlement Offer?

The short answer is that a settlement may be fair if it adequately covers your expenses. However, there may be other factors to consider that could impact your decision.

For example, it’s important to understand that accepting a settlement offer will typically forfeit your rights to file a lawsuit against your employer for additional compensation. While workers’ comp laws generally protect employers from lawsuits brought by injured workers, there are some exceptions when you can sue your employer, including if your employer:

• Deliberately caused the accident that led to your injuries
• Retaliated against you for filing a workers’ comp claim
• Showed extraordinary recklessness in their failure to protect workers’ safety
• Interfered with your workers’ comp claim in an attempt to have it denied
• Failed to carry workers’ comp insurance when they legally are required to do so

If you believe one of these situations may apply—or if you are unsure about the total value of your claim—we recommend speaking with a trustworthy Orlando workers’ compensation lawyer who can evaluate your claim and help you decide on the best path forward.

At the end of the day, you want to make sure that you maximize the value of your claim so that it adequately covers your short- and long-term expenses. If there is an opportunity to seek additional compensation above and beyond your workers’ comp benefits, you should fully pursue it.

Do I Need a Workers’ Compensation Lawyer in Florida?

Injured workers can certainly file and manage their own workers’ compensation claims without the help of an attorney. However, it can be risky in certain circumstances, including:

• When your claim is denied. The stakes are very high in an appeal. An attorney can help make sure you avoid common mistakes and have strong evidence to support your claim.
• When you are eligible for additional compensation above and beyond your workers’ comp benefits. In this case, you will have to file a separate claim for damages based on negligence. The assistance of a lawyer in a personal injury case will significantly improve your chances of securing compensation.
• When the insurance company offers a settlement while the extent of your injuries and expenses is still not clear. You may end up being offered far less than you deserve, and a workers’ comp lawyer has the experience to gauge what is appropriate and negotiate with confidence.

It’s important to understand that this may be your only chance to recover compensation for your losses and expenses. If you later realize that you did not recover enough, it will be too late. That’s why getting it right the first time is so important.

Contact the Dedicated Attorneys at Colling Gilbert Wright

Making big decisions about your workers’ compensation claim can be confusing and frustrating. The best path forward isn’t always clear—which is where we come in.

As distinguished Orlando workers’ compensation lawyers, we understand the complexities of workers’ comp claims, the different options available to injured workers, and the potential roadblocks when seeking benefits or compensation. Our goal is to be a valuable resource for injured workers trying to recover the maximum benefits they deserve.

If you’re wondering, “When will workers’ comp offer a settlement, and is accepting it the right move?” our attorneys can provide the guidance you need to make the best decision for your future. We are here to walk alongside you every step of the way.

To get started with a FREE case evaluation, contact Colling Gilbert Wright today.