While negotiating with your employer's insurance company to receive compensation for workplace injuries, it is possible that you will be offered a settlement. Before taking the settlement offer, it is important that you completely understand the ramifications of it. To help you make the right decision, here is what you need to remember when considering a settlement offer. 

Do Weekly Monetary Benefits Continue?

When you accept a settlement offer from your employer's insurance company, the weekly monetary benefits stop in exchange for the lump sum you agreed to. In the event that your injury worsens or returns, you cannot receive the weekly financial support. This could mean you would be without income until you are able to work again. 

Will the Insurance Company Pay Your Medical Bills?

Depending on the state in which you live, it is possible that your medical support could stop once you accept the settlement offer. Some states require that the medical support is terminated when the settlement offer is signed. 

Other states do allow the support to continue. If this is the case in your situation, you need to be clear on what procedures you have to follow to have your medical bills paid. The insurance company could require you to submit additional documentation that you did not have to in the past, which could lead to a delay in bills being paid. 

Is It Possible to Include Re-Injury in Your Settlement?

Some settlement offers contain contingencies that would allow you to receive additional financial and medical support in the event your injury returns or it worsens. Since this is not automatic, your attorney needs to ensure that your settlement offer covers the future. 

The insurance company will most likely insist on a time limit on how long your employer can be responsible for your injury. Your attorney can help you decide what is a fair amount of time to include. 

What Happens After You Accept?

If you do agree with the settlement offer terms, the final proposal must be submitted to your state's workers' compensation agency. The agency will review the proposal and decide whether or not it is acceptable. If the agency believes the offer to be unfair to you, another arrangement will need to be worked out. 

It is important that you work with an attorney to negotiate a fair settlement of your workers' compensation case. The attorney can help identify other considerations you need to make and work with you to get a fair settlement. 

To learn more, contact a workers compensation attorney like the Law Office of Leslie S. Shaw. 

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