Introduction to Factors Affecting Workers’ Compensation Case Value
Understanding the worth of a workers’ compensation case is a crucial aspect for injury victims in California. This article aims to shed light on the factors that influence the value of a case and the types of settlements available.
Understanding Workers’ Compensation Case Worth
When it comes to determining the worth of a workers’ compensation case, it’s important to understand how cases are valued. The total benefits – from temporary disability, medical care, permanent disability, future medical care, to vocational schooling – could add up to a significant amount. However, this is not the money that goes directly into your pocket. When people ask about their case worth, they are typically interested in knowing the settlement amount they will receive.
Types of Workers’ Compensation Settlements
There are two types of settlements in workers’ compensation cases: Stipulation & Award and Compromise & Release.
Stipulations With Request for Award
This is a document where parties agree on temporary disability periods paid, an amount of permanent disability, and the need for future medical care. In most cases, this means that the person gets a payment of Permanent Disability, at around $290 per week for a certain amount of weeks until paid out. Future medical care is left open, and the person can continue to get medical care for body parts injured at work for the rest of their life – they just have to go through the workers’ compensation doctors and network.
Compromise & Release
This settlement is completely optional for both sides, but it is fairly common because both sides want to settle out the case for a lump sum. This is most often a combination of both the permanent disability, along with a present value lump sum buyout of future medical care.
Factors Affecting Workers’ Comp Case Worth
Several factors can influence the worth of a case, such as future medical care, temporary disability periods, and permanent disability. These factors are calculated into the settlement, affecting the final amount that the injured worker receives.
Considerations for Choosing a Workers’ Compensation Settlement Type
When choosing a settlement type, injury victims should take into account several considerations. These include the potential benefits and drawbacks of each type of settlement, as well as their current and future medical needs.
Other Benefits as Part of Workers’ Compensation Settlement
In addition to the settlement amount, there may be other benefits included in a workers’ compensation case. These can include retroactively owed temporary disability, out of pocket expenses, mileage, supplemental job displacement vouchers, and more.
Conclusion to Factors Affecting Workers’ Compensation Case Value
Understanding the worth of your workers’ compensation case and making informed decisions about settlements is crucial for securing the compensation you deserve. With the right knowledge and legal help, you can navigate the complex landscape of workers’ compensation law. Injured workers in need of legal help are encouraged to call California Injury Lawyer at (844) 584-8444 for a free consultation. Our firm has extensive litigation experience in injury law and is committed to helping injury victims secure the compensation they deserve.