Most workers’ compensation cases in California are settled outside of court. There are several benefits to settling your case. For one, your claim will be resolved more quickly. You also won’t have to deal with the hassle of an evidentiary hearing. However, settling your case means you have to be willing to make compromises about the amount of benefits you will receive. In this blog, we talk about the things that you need to consider before you settle your workers’ compensation case.
Can I Settle My Case at Any Time?
In the state of California, you can choose to settle your workers’ compensation case at any time. Before you decide to settle your case, you should get an accurate estimate for the value of your claim. You will need to wait until you reach maximum medical improvement and receive an impairment rating from a doctor. If you don’t wait for these two things, you won’t know the full extent of your injuries and how much compensation you will need to cover future care and expenses.
Are There Different Types of Settlements?
There are two types of settlement options in the state of California:
- Compromise & Release: With this option, you relinquish your right to collect further benefits on your workers’ comp claim. In exchange, you receive a lump sum payment from the insurance company. If you agree to this type of settlement, your medical treatment will no longer be covered by workers’ comp. You also can’t request additional compensation if your condition gets worse.
- Stipulations With Request for Award: With this option, your benefits will be paid to you in installments. Unlike a compromise and release settlement, your future medical treatment will be covered by workers’ comp. You can also file a petition to reopen your claim if your condition worsens.
You should consider the following factors before choosing a settlement option:
- The Severity of Your Injuries
- If You Will Likely Need Future Medical Treatment
- Your Financial Situation
An experienced workers’ compensation lawyer can help you decide which type of settlement is right for you.
San Jose Workers’ Compensation
Do you have questions about whether you should settle your workers’ compensation case? If so, you should get in touch with our lawyers to discuss the details of your case. Our lawyers are committed to helping injured workers secure the compensation they are entitled to. Let us put our skills and experience to work for you today.