Workers’ Compensation Settlements in Wakefield

Workers are generally entitled to workers’ compensation benefits when they suffer a work-related injury or illness. However, in many cases, the insurance company for the employer will deny claims for workers’ compensation or refuse to pay the full amount of the claim. When this situation occurs, a seasoned lawyer may be able to help workers obtain workers’ compensation settlements in Wakefield.

Disputes over workers’ compensation benefits can be stressful and overwhelming when you are unable to work due to illness or injury. You may have difficulty accessing medical care and paying your bills in the absence of workers’ compensation benefits. An experienced workers’ compensation attorney could make a difference in the resolution of your case. To learn more, schedule a consultation today.

Settlement Opportunities in Wakefield

At any time during a workers’ compensation benefits dispute, the parties can agree to settle the case for a set amount of money. This settlement typically takes the form of a lump sum settlement as a one-time payment instead of periodic payments over time. However, a structured settlement can include payments over time in some cases.

A lump-sum settlement usually includes a stipulation that the insurance company for the employer must pay for any future medical care related to the injury or illness. Generally, the need for post-settlement medical must be reasonable and a direct result of the injury or illness. The settlement agreement would often include a list of diagnoses or medical conditions for which the insurance company will provide coverage.

However, before the parties can finalize a workers’ compensation settlement, they must present the settlement for approval before an administrative judge for the Department of Industrial Accidents. The employer also must sign any settlement agreement, as the entry of settlement may cause an increase in workers’ compensation insurance premiums for the employer. As this approval is essential to obtaining settlements for workers’ compensation in Wakefield, claimants may benefit from the assistance of legal counsel.

Benefits of Workers’ Compensation Settlements

Individuals in disputed workers’ compensation claims may find it beneficial to reach a workers’ compensation settlement for various reasons. Settlements may enable injury victims to obtain a more substantial sum of money than they would if they were to continue to receive periodic benefits. For example, if individuals mostly have recovered and expect to return to work soon, they might be able to obtain some extra compensation through a lump sum settlement.

Furthermore, a settlement allows injury victims to dictate the form and extent of future medical treatment for their illness or injury. This portion of the benefit can help if claimants later lose their private health insurance or otherwise cannot afford the treatment that they need.

Reasons to Avoid Workers’ Compensation Settlements

Once claimants take lump sum Wakefield settlements for workers’ compensation, they would no longer be entitled to weekly or other periodic benefits. When this occurs, the claimants will have the responsibility of properly managing their money and ensuring that the money lasts for as long as they need it. They may also no longer receive any additional compensation in the future related to their injuries.

Additionally, injured workers who settle their claims typically cannot go back to work for the same employer. State law creates presumptions about how long claimants are unable to work based on the amount of the settlement that they receive. For individuals who wish to return to work for their employers, the inability to do so may be a solid reason not to take a settlement offer.

Work Toward Wakefield Workers’ Compensation Settlements Today

When you have sustained severe injury or illness due to a work-related accident or condition, you have the right to workers’ compensation benefits. In this situation, you may want to get the legal assistance you need to protect those rights and negotiate fair workers’ compensation settlements in Wakefield. By getting legal advice, you would be able to explore all available options and determine the best course of action.

Workers’ compensation cases are often challenging and involve complex computations of benefits. With legal counsel on your side, you may be in a better position to resolve your situation favorably.