Find out the value of your case and why having an experienced workers comp lawyer on your side can make all the difference.
The average workers comp settlement in 2012 was only $61,960.62. This represents a small decline from the year before. Lower wages across the state and changes to the law have caused a negative impact on settlement amounts.
Most people are shocked to hear this statistic because it does not sound like very much money. This is especially true for a person who might not be able to work again or needs extensive future medical treatment.
Insurance companies consider settlements like any other business decision. The goal is to minimize the amount of money that needs to be paid. An experienced workers comp lawyer can help you get fair value.
How to increase your settlement amount
Workers comp settlements depend upon how much the insurance company anticipates paying in past and future benefits. This can be broken down into two main categories, wage loss and medical benefits.
Wage loss equals 80% of your after-tax average weekly wage. This amount can be reduced even further if you are found partially disabled by the insurance company. An experienced workers comp lawyer will be able to challenge an unfair decision and ensure higher weekly payments. This will result in an overall larger settlement.
Medical treatment must also be paid if it is reasonable, necessary and related to your injury. Insurance companies typically dispute medical to save money on claims. An experienced workers comp lawyer can take the deposition of your doctor and show that future medical is appropriate. This will increase the overall value of your settlement.
Add the cost of wage loss to future medical treatment and compute a settlement amount. Most insurance companies will not pay much more than five years of workers comp upfront.
How to find a workers comp lawyer
Meet any potential workers comp lawyer face-to-face. It is important to have trust and faith in your legal counsel. This consultation should be free.
Fees on settlements range from 10% if you are being paid voluntarily to a maximum of 15% for a disputed case. An experienced workers comp lawyer can easily increase the value of your settlement to offset this charge.
To speak with one of our workers comp lawyers in Michigan, call (855) 221-2667 for a free telephone consultation. We will fight to make sure you get all the benefits that are owed.
– Alex Berman is the founder of the law firm. Hes been representing injured and disabled workers exclusively for more than 35 years. Alex has helped countless people obtain workers comp benefits and never charges a fee to evaluate a case.
– Photo courtesy of Creative Commons, by 401(K) 2013.