Understanding Workers’ Compensation Settlements
A workers’ compensation case normally ends when your treating doctor states that you have reached MMI (maximum medical improvement) and can return to work at full duty. At this point, the insurance company must pay all outstanding medical bills and TTD.
This can be a confusing and stressful process which is why you decided to hire a workers’ compensation lawyer in the first place. At Berg & Berg, in Chicago, our attorneys work hard for all of their clients and have a proven track record of obtaining the best results possible.
Wherever you are in the workers’ compensation process, we invite you to contact us to discuss your case.
After you have been cleared for work, your employer’s insurer must pay a permanency award to compensate you for the permanent effects of your injury. The permanency award is based on a permanent partial disability (PPD) rate that is three-fifths of your average weekly wage. The PPD rate is multiplied by a certain number depending on the body part that is injured and on the type of treatment you underwent.
In cases of permanent total disability, where an employee cannot work or make his old wage, the employer may have to make up a percentage of the lost future wages. Workers’ compensation settlements do not take pain and suffering into account.
Resolving A Workers’ Comp Case
A settlement demand must be written in order to resolve a workers’ compensation case. This settlement demand is a letter detailing how much we are willing to settle your case for. After this, we will negotiate with the insurance company and ask them for an offer. Sometimes this process can take a few months.
If you accept the insurance company’s offer, we will sign settlement contracts and submit them to the arbitrator for approval. However, if you reject the offer, we always have the option of holding a final trial and letting the arbitrator decide all the remaining issues. We will give you knowledgeable advice about a settlement offer, but it is always your decision whether or not to accept or reject an offer.
Confused About The Settlement Process? Get Answers Here.
When you hire our attorneys, we will look out for your best interests, so you can be certain that the terms of your settlement agreement are fair. Get an honest evaluation of your claim and your options during your private consultation at our firm. Call 773-823-9000 or email us to schedule your appointment.