Lump Sums and the Pros and Cons of Settling Your PA Workers’ Comp Case
JENKINTOWN PERSONAL INJURY ATTORNEYS
At Mednick, Mezyk & Kredo, we take your workers’ compensation case personally!
If you have been injured at work, you may be entitled to a lump sum settlement of your workers’ compensation benefits. Lump sum settlements, also called Compromise & Release or C&R Agreements, allow injured workers to settle some or all of their claims. For example, an injured worker could settle his or her wage loss claim for a lump sum, while continuing to have the insurance company pay for medical expenses. At Mednick, Mezyk & Kredo, we have been negotiating lump sum workers’ compensation settlements for many years, and our goal is to always get the largest possible settlement for every client.
Why Would I Want to Settle My Workers’ Comp Claim?
There are many reasons to consider when settling your workers’ compensation claim. Some workers settle because the insurance company is offering a lot of money. Others resolve their cases so that they can either go back to work or open a business. In some cases, a lump sum settlement may provide the money a worker needs to afford to go back to school and get a degree or specialized training. If a case is in litigation, a settlement generally acts as a compromise because both sides want to avoid ongoing litigation.
Do I Need an Attorney or Can I Deal Directly With the Insurance Company?
In most cases, injured workers obtain much larger settlements by having attorneys represent them. An experienced workers’ compensation attorney understands how to analyze a case, and how to get the maximum settlement possible. Most workers are not trained negotiators, and insurance companies will often take advantage of them. Even if the insurance company has made what seems like a good settlement offer, you should still consult with an attorney to be sure that you are getting the largest settlement possible. At Mednick, Mezyk & Kredo, we will gladly consult with you, analyze any settlement offers, and provide you with our advice. Of course, there’s no obligation and no charge for the consultation.
What Are Some of the Things I Should Think About Before Settling?
Because Pennsylvania law makes it very difficult to reopen a workers’ comp claim after a settlement is approved, you should consider some of the following questions before agreeing to settle your case:
- Does the settlement adequately pay your lost wages?
- Does the settlement include future medical bills?
- Does the settlement protect you if you receive Social Security and Medicare benefits?
- What are my options if I do not settle?
Are There Other Types of Workers’ Compensation Settlements?
In addition to receiving lump sum settlements, injured employees may be eligible for “specific loss” benefits if they suffer an amputation or can no longer use a part of their body. Specific loss benefits are paid, for example, when a worker loses the ability to use a part of his or her body, or suffers a hearing or vision loss. Specific loss benefits are paid for a limited number of weeks, sometimes in addition to the weekly benefits an injured worker receives.
Our workers’ compensation attorneys have settled thousands of claims, and will make sure that every person and family we represent receives our undivided attention, maximum effort and extraordinary service. To ensure that you are receiving the largest workers’ compensation settlement you are entitled to, call Mednick, Mezyk & Kredo today to speak with one of our workers’ compensation lawyers.
At Mednick, Mezyk and Kredo, we welcome the opportunity to meet with you to discuss your workers’ compensation case. Please give us a call at 215-545-1870 or fill out theContact Us form on this page for a free consultation.
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