Should I Consider A Workers’ Compensation Settlement?

When you have experienced a workplace injury that has resulted in an extended or permanent period of disability, our dedicated South Florida workers’ compensation lawyers know how critical it is to get financial compensation quickly so that you are not responsible for medical bills and so that you have the money you need to help make up for lost wages. As such, a settlement might seem quite attractive in the short term, especially if it means you will receive a lump sum settlement. However, you should know that there are also limitations to workers’ compensation settlements, and it is extremely important to seek advice from a Fort Lauderdale workers’ compensation attorney before you accept a settlement offer. While settlements certainly can be beneficial for some injured workers, accepting a particular settlement might not always be the best choice in every case.

Understanding Workers’ Compensation Settlements 

Under Florida workers’ compensation law, settlements can be made in some cases, but it is important to understand that workers’ compensation settlements are always voluntary. To be sure, as the Division of Workers’ Compensation clarifies, settlements for workers’ compensation are “not automatic or mandatory.” As such, you have a choice about whether or not to accept a settlement.

You should know that there are different kinds of settlements, so when you are considering a workers’ compensation settlement, it is important to be clear about the type of setting you have been offered. Some settlements are lump-sum settlements, while others are structured settlements. Depending upon the type of settlement, you will either receive a lump-sum amount all at once, or you will receive installments in your settlement over a specific period of time. In either case, agreeing to a workers’ compensation settlement typically means that you will release the insurance company from any future liability.

Can I Get More Medical Coverage If My Injury Worsens? 

One of the major limitations of accepting a settlement for your medical benefits means that you cannot get additional medical coverage if your injury or occupational disease worsens later on. To be clear, as the Division of Workers’ Compensation explains, “you are responsible for your future medical needs after your claim for medical benefits is settled.” Accordingly, it is essential to get advice from a workers’ compensation lawyer in Florida before you accept a settlement. You will want to be sure that the settlement is what is best for you in the long run.

Am I Allowed to Change My Mind After I Agree to the Settlement? 

Generally speaking, you cannot undo a settlement once you agree to it. As such, you should be sure to work with an attorney on your case to make certain that the terms of the settlement are right for you.

Contact Our Fort Lauderdale Workers’ Compensation Attorneys 

Whether you have already filed a workers’ compensation claim and are considering a settlement, or you need assistance filing your workers’ compensation claim and want to learn more about potential settlement options, an experienced Fort Lauderdale workers’ compensation attorney at our firm can speak with you today. Do not hesitate to get in touch with us to learn more about the services we provide to injured workers and their families in Florida. Contact the Law Offices of David M. Benenfeld, P.A. for more information.

Resource:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0440/0440.html