What’s Typically Included in a Workers’ Comp Settlement?
Many workers' compensation claims follow a relatively straightforward process. An injured worker files a claim with the Maryland Workers' Compensation Commission after getting checked out by a medical professional. Then, the case gets closed when an employer's insurance company issues the appropriate benefits to them. However, some claims may entail a lengthier process; the injured party may pursue a monetary settlement.
It is this topic that we will review in greater detail below. We provide readers with an overview of how workers' comp settlements proceed in Maryland, what financial costs get covered, how long the process takes, and what contributing factors impact a final settlement.
How a Workers' Compensation Settlement Works
As previously mentioned, while some workers' compensation cases are closed following the processing of a claim and an employer paying benefits to an injured worker, others will strive to obtain a settlement. Should an injured worker settle their workers' comp case, it forever closes out their ability to reopen their case for additional indemnity benefits and/or medical care.
Alternatively, a settlement may be pursued in the event of an individual facing lasting disabilities. For example, someone who suffered the loss of an appendange anticipates the need for ongoing physical therapy and other long-term medical care. These costs, therefore, would be incorporated into the desired outcome.
Additionally, it is important to keep in mind the following factors influencing a settlement's result:
- The type of injury suffered by a worker
- The type of work performed when the injury occurred
- The risks associated with the job
- State workers' comp laws
The Elements of a Fair Settlement
In our opinion, a fair workers' comp settlement should include the following elements:
Covered Medical Expenses, Past and Future
Depending on the severity of an injury and the necessary treatment, individuals may face high medical bills and require ongoing care. These costs should be accounted for in a settlement.
Lost Wages, Past and Future
A workplace injury may require an employee to be off for a substantial amount of time, which can hinder their ability to earn an income. Likewise, severe injuries may prevent them from being able to do the same level of work as prior to their injury. This situation, therefore, can lead to less earning potential.
Like a traditional claim process, these payments are made from the employer's insurance company as part of their workers' comp plan.
Cost of Retraining, If Required
Even if an injured worker is able to return to work eventually, they may require training to complete new responsibilities or find employment elsewhere.
While myself and other workers' compensation attorneys operate on a contingency fee, a settlement should also cover the costs associated with hiring legal representation.
Thinking About Pursuing a Maryland Workers' Comp Settlement? Get in Touch
If you or someone you know suffered a workplace injury and wishes to pursue a settlement, secure a qualified and experienced Maryland workers' compensation attorney.
Take the first step by requesting a case consultation by phone or using our online form.