How much of my settlement will I get?

Workers comp settlement process in Michigan and amounts paid before a person receives any money.

6736194099_eb2ac3f1bb_mSettlement is an attractive option for most people. It allows a person to seek medical treatment and vocational rehabilitation on their own terms and without interference from the insurance company.

Settlement amounts depend upon several factors including age, extent of disability, and future medical costs. Other important factors include how much a person earned and their ability to find alternate employment.

All settlements must be approved by a magistrate and several documents must be presented. The settlement statement will outline what must be paid before a person receives any money. Here are some items that are typically paid first.

Attorney Expenses

Attorneys are allowed to claim reasonable expenses related to the case and its appeal. This includes subpoena fees and the cost of medical records. Sometimes deposition testimony is needed and a court reporter must be hired. Reimbursement for the cost of a medical or vocational expert is also permitted.

Attorney Fees

The law limits the amount an attorney can charge in a workers comp case. The fee is 15% of the first $25,000 and 10% on the remainder if benefits have been disputed. The fee is only 10% if benefits are currently being paid and the matter is settled. The fee can be 30% if the case is won at trial or a voluntary payment is obtained.

Direct Payments

Many settlements include payment to a medical provider or lien holder. Doctors are more agreeable to negotiate if paid directly from the settlement. The same is true for health insurance companies who want to be reimbursed for charges that should have been paid under workers comp.

Redemption Fee

Each side is responsible for paying $100.00 to the State of Michigan. This is called a redemption fee and it is used to pay costs associated with the Agency.

Michigan Workers Comp Lawyers never charges a fee to evaluate a potential case. Our law firm has represented injured and disabled workers exclusively for more than 35 years. Call (855) 221-2667 for a free consultation today.

Related information:

How to get a lump sum settlement faster

Photo courtesy of Creative Commons, by 401(K) 2013.

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