Should I Settle My Workers’ Compensation Claim?
The journey through a workers’ compensation claim can be complex. At various stages of a claim, key questions frequently arise. One frequently asked question is whether a claim should settle.
The decision to end a claim through settlement depends on many different factors. Discussing the pros and cons of settlement with an experienced attorney can help. Each claim is unique. There is no such thing as a “one size fits all” approach to resolving a claim.
Before discussing settlement, it is important to realize what settlement of a workers’ compensation claim involves. In most situations, settlement will end the claimant’s rights to both medical and monetary benefits under the claim. While settlements involving the monetary benefits (while leaving the medical benefits open) are possible, such settlements depend on many factors. Discussing this option with an experienced attorney will help individuals make an informed decision on how—and when—to approach settlement.
It is also important to realize that settlement is never the only option in a claim. It may be a more attractive or viable option, but it is never a decision that is forced upon an unwilling claimant. Your attorney should explain the pros and cons of settlement. The decision to settle always rests with the claimant. An attorney can provide relevant information and anticipated consequences of a decision to settle or not settle; however, the claimant is ultimately the only one who should be making the decision. If a decision is made to attempt a settlement, the value of the claim is largely based on the likelihood of future benefits that may be paid in the claim.
If you have questions on a workers’ compensation claim and the possibility for settlement, the attorneys at Herdman Yeager, LLC, are happy to discuss your options. Please feel free to contact us.
Disclaimer: This blog provides general information on legal issues and is not a substitute for legal advice. Each individual claim is unique. To seek legal guidance, you should contact an attorney.