4 Factors That Determine Value of Your Workers’ Comp Settlement

An injury that occurs at work can require weeks and even months for an employee to fully recover. Some workers may not fully recover and require medical treatment for years to come. In these cases, injured employees want to be assured their medical bills and lost wages are fully reimbursed. Regardless of the details of the accident or illness, the value of a workers’ comp settlement takes time to determine — using the following factors.

1. Severity and duration of injury

The severity of the injury or illness is the primary factor affecting the value of a workers’ comp claim. The extent of a worker’s injuries will direcly impact how much time they will be out of work, if they’ll ever be able to return to work, and whether or not they’re entitled to job retraining or occupational therapy benefits. Some workers may need permanent disability benefits, driving up the value of the settlement.

2. Future medical needs

Injured workers who need years of treatment will need to be reimbursed for medical costs they’ll incur long after the claim has been settled. In these instances, workers will need an experienced work injury lawyer in Orange County to determine the appropriate compensation for future medical expenses. The insurance company will do their best to undervalue a claim if they suspect a worker has significant future healthcare costs.

3. Employee wages

While a worker is receiving treatment, they’re eligible for lost wages reimbursement. The amount of money a worker is entitled to can be calculated through four ways:

• Their regular, full-time earnings
• The workers’ average earnings in a week for both jobs (if they’re working two jobs)
• The average weekly earnings from the previous year (for part-time or seasonal workers with an inconsistent wage)
• Any combination of the above methods to determine a fair amount

4. Involvement of a workers’ comp lawyer

An experienced Orange County workers’ compensation lawyer will fight on behalf of injured workers to get the settlement they deserve. Thomas F. Martin PLC has helped many injured workers overcome the legal hurdles and obstacles in the workers’ compensation process and secured a fair settlement. Without the help of a lawyer, workers may not get the full benefits they deserve.

Reach out to Thomas F. Martin today to schedule a consultation!