Most workers that use workers' compensation insurance are back on the job in no time. However, many workers suffer from permanent injuries that are not expected to get any better. The way this type of workplace injury is handled depends on several factors. Read on and find out more.
Not all work injuries are the same
Some may produce a permanent injury, but it might be an injury that allows the worker to still be employed in some capacity. That is why work injuries are classified in terms of percentages. A worker might be deemed to be 100% disabled as well as any percentage point below 100%.
Those with partial disabilities may still be paid compensation, but it may not be as much as those ruled to be 100% disabled. If you disagree with the level of disability for your case, speak to a workers' compensation lawyer. As with nearly all workers' comp rulings, you have an opportunity to appeal the decision.
Here are other factors that affect how much you are offered for your permanent injury.
The former salary of the worker will pay a part in what they are offered in the settlement.
The older a worker, the less they may be offered. That is because the insurer assumes that the worker has only so many more years of working left before they retire.
Workers with more education may be offered less. Those workers may have skills that allow them to continue to earn money even if they cannot work at their previous job.
Workers' compensation settlements vary, and they often depend on previous similar settlements in the state or region of the country.
When you agree to a settlement, part of the agreement may be about how you are paid. You may be given a choice between a lump-sum payment or a structured payment plan. If you decide to be paid in regular payments over several years, you may end up with more money overall than if you want to be paid in a single lump sum payment. The insurer may incentivize hurt workers to stretch the payments out because it places less of a financial strain on the insurance carrier. If you are confused as to what is best for you, speak to a workers' compensation lawyer.
Before you agree to a settlement, speak to a work-related accident lawyer to learn more.