If you have not recovered the benefits you deserve after filing for workers’ compensation, call a lawyer who has experience negotiating settlements. A settlement occurs when an individual reaches a lump-sum agreement with the Bureau of Workers’ Compensation. While there are various benefits and downsides to a settlement, those considering to enter into one should consult an experienced attorney before doing so.
If you have questions regarding Findlay workers’ compensation settlements, a knowledgeable workers’ compensation attorney could help.
Role of the Different Parties in the Settlement
The typical involvement in the settling is the attorney for the employee, the claimant, the lawyer for the employer, and the attorney for the Ohio Bureau of Workers’ Compensation.
The plaintiff’s attorney’s job is to make sure that the amount of compensation is fair and to check if it is in the best interest of the person they represent to accept a settlement. The Bureau of Workers’ Compensation typically seeks to eliminate their potential risk of paying money under the Workers’ Compensation system. The employer could seek to ensure that the premiums they paid into the Bureau of Workers’ Compensation are positively affected by their settlement.
When Should an Employee Consider Entering into a Workers’ Compensation Settlement?
Some circumstances in which an employee might consider entering into a Workers’ Compensation settlement are:
- The person needs the money
- The amount of money offered is fair
- They have other health insurance to cover potential medical treatment for the claim
- They have another job so they do not need the underlying job
How a Settlement Impact Employee Benefits
When someone settles their claim they give up all of their benefits under Ohio Workers’ Compensation. This may include their right to payment for their medical bills, their pain-and-suffering, their future medical bills, and everything involved their claim to receive a lump sum amount of money. The employer could also require them to quit their job and give up their other legal rights as an employee under Ohio law.
What to Look for in a Settlement Before Reaching an Agreement
When a person in Findlay wants to settle their workers’ compensation claim, there should be a full understanding of what benefits are given up and how much money they are going to receive. Usually, when someone is on Social Security Disability and receives Medicare, there must be a Medicare set aside that takes into account the potential benefits of Medicare and the federal government. This can be complex and the individual needs an actuarial evaluation of their future medical needs. They should also have their experienced attorney explain the possible implications of Findlay workers’ compensation settlements in vivid detail.
Understanding Payment Rating in Compensation Benefits
A payment rating is the future benefits on the employer. A state-funded employer is rated on the number of workers and the amount of their claims. If someone makes numerous claims under their auto insurance policies, the insurance company may cancel them or their premiums go up. If one settles a claim, that negative history, the benefits they paid could be eliminated from the prior history of the employer in which case their premiums will go down. The employer’s attorney is interested in the implication of the settlement on the rating of the employer and the effect on future insurance premiums.
Let an Attorney Help With Findlay Workers’ Compensation Settlements
To maximize your benefits, you may need a workers’ compensation lawyer who is respected, has experience, has a reputation for not letting those they represent be taken advantage of. Reach out to an attorney who is experienced with Findlay workers’ compensation settlements.
A lawyer could help you maximize your recovery.