The Pros and Cons of Settling a Workers’ Compensation Case

In some cases, pursuing a workers’ compensation case can be a long and complex process. You may not see eye-to-eye with your employer’s insurance company when it comes to the benefits you are entitled to, or your claim may even be denied. Either way, it means attending a formal hearing with the Workers’ Compensation Commission to resolve it. Most workers’ compensation cases do reach a settlement before this point, but there are pros and cons to settling to be aware of.

The Pros and Cons of Settling a Workers’ Compensation Case

A settlement occurs when you accept your employer’s insurance company’s offer of compensation to resolve your workers’ compensation claim instead of seeing a judge. Here are the advantages and disadvantages:

• Pro: It Takes Less Time. Recovering compensation often takes far less time when you settle a claim, whereas going in front of an administrative law judge can take much longer.
• Pro: Guaranteed Award. A settlement means guaranteed payment each week/month or a lump sum. There is no guarantee of how the hearing will turn out, and there is a risk that the judge will award you less than the amount the insurance company is offering.
• Pro: Able to Revisit Terms. Even if you accept the insurance company’s offer of payments, you can reopen negotiations while you collect benefits and ask for a higher amount or request a lump sum instead.
• Pro: Less Stress. Preparing to go in front of a judge can be stressful, and accepting a settlement puts it all to an end.
• Con: Less Money. There is a possibility that the judge will grant you a higher award or settlement. Additionally, agreeing to a settlement typically means giving up your rights to future medical care or provisions (e.g., payment for prescription medications).
• Con: Regret. After accepting a settlement offer, there is always a risk of regretting the unknown and wondering if you could have obtained more compensation had you chosen to attend a hearing.

How a Lawyer Can Help

To be sure you receive the workers’ compensation benefits or a lump sum that you deserve, it is in your best interests to consult an Orange County workers’ comp attorney. They can assess your case and give you an estimate of the benefits or settlement amount you should receive. They can also send a demand letter with the amount you are seeking to your employer’s insurance company, along with any relevant documentation. The insurer may accept, or if they send a counteroffer, negotiations begin and may go back and forth for a few days or weeks. With an employment attorney on your side, though, you may be able to reach agreeable terms quickly and avoid having to go in front of a judge.

Speak to an Attorney Today

If you have been injured at work, contact Aegis Law Firm. We can give you an accurate estimate of your claim’s value and will aggressively negotiate with the insurer, so you receive the benefits you deserve.