Can I Negotiate My Workers’ Compensation Settlement?

When you are injured at work, navigating the workers’ compensation process can be incredibly difficult. As such, you may wonder if it’s better to receive ongoing benefits or settle your claim and move on with the process. Each process has its benefits and drawbacks, so understanding the differences between these options is critical. In addition, should you choose to settle, you may need to negotiate your compensation. As such, if you are unsure whether to settle or if the option offered by the insurance company is fair, you’ll want to connect with an Illinois workers’ compensation attorney to discuss your legal options. The following blog can help you learn the basics of this process to start considering your choices.

What Should I Know Before Settling a Workers’ Comp Case?

If you are interested in settling your workers’ compensation claim in Illinois, it’s important to understand how this process works, as well as the benefits and disadvantages you can encounter.

First and foremost, it’s important to understand that a settlement is different from benefits. When you receive workers’ compensation benefits, you are granted ongoing payments based on your medical treatment and lost wages. However, a settlement is a formal agreement reached by both parties that provides, most often, a lump sum payment for the losses incurred by the worker.

One of the primary differences is that once you accept a settlement, your case is formally closed. As such, if you experience unexpected complications, such as the need for additional medical care, you will be unable to receive compensation for these expenses. However, as benefits are ongoing and flexible, you are able to continue receiving compensation for the care you receive. On the other hand, settling offers the potential for a larger payment in the long run and a shorter process.

How Should I Negotiate My Award?

Unfortunately, the insurance company’s main goal is to save as much money as possible. As such, when you submit your workers’ compensation claim, they may severely undervalue your claim. However, you do not have to accept the first offer from the company, as you are able to negotiate a settlement.

If you are interested in negotiating, the most important thing you should do is connect with an experienced workers’ compensation attorney. They can assist you not only in the negotiation process, but they can also examine the details of your claim to determine the compensation you are entitled to.

Generally, the settlement negotiation process is relatively straightforward. This typically begins with either party sending a settlement offer. Typically, the insurance company will offer a low amount at first in the hopes that you are desperate for compensation and willing to accept any form of funds. However, you can counteroffer until both parties agree on an amount. In the event you are unable to agree, the case may proceed to court, where a judge or jury will determine the outcome.

Negotiating a settlement amount can be incredibly difficult. That is why working with an experienced attorney with the Law Firm of Kevin A. Moore is in your best interest. Our team understands how difficult these matters can be, which is why we are committed to fighting for the best possible outcome on your behalf. Contact us today to learn how we can assist you.