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Things to consider before accepting a workers’ compensation settlement

On Behalf of | Dec 23, 2022 | Workers' Compensation

A worker’s compensation claim will provide financial compensation to help you make ends meet during the recovery after an accident at work. In some cases, worker’s compensation claims result in a settlement offer that brings your case to full resolution.

Before you accept the first offer on your worker’s compensation claim, consider the key factors.

Are you looking to avoid court?

If the idea of having to go to court leaves you feeling anxiety and discomfort, a settlement might be in your best interest. When you accept a fair settlement, you do not have to appear in court to litigate the claim.

Where are you in your recovery?

Before you accept a settlement agreement, consider the recovery you still have ahead of you. Are you nearing the end of your recovery and able to adequately calculate your medical expenses and overall losses? Any settlement you accept now prevents you from seeking any additional restitution later. Make sure that the settlement is sufficient for your stage of recovery and the costs you have incurred.

What are you signing away in acceptance?

When you accept the settlement agreement, it comes with restrictions and sacrifices. For example, you are unable to pursue any additional restitution if you accept the settlement. If you receive a fair and reasonable offer, that sacrifice is rational.

A settlement offer on a worker’s compensation case should provide compensation for those injured on the job. When you lose work hours and pay as well as incur medical expenses, your settlement agreement can offset those costs.