Workers’ comp lawyer discusses the average workers’ comp settlement amount in Michigan and how to maximize what is paid.
Helping people who are hurt on-the-job is all we do. We explain legal rights and show them how to get the most out of their workers’ comp benefits. Many of these individuals want to know the average workers’ comp settlement amount in Michigan. This allows them to start thinking about the future and life after recovery. Here is some information about settlement and how to maximize the total amount paid.
Workers’ comp is not always a fair system, and settlement is often the best option. It allows a person to get cash and move on with their life. Money can be used for medical treatment, education, vocational rehabilitation, starting a business, paying off debt, or retirement.
How much is the average workers’ comp settlement amount in Michigan?
Statistics published by the Workers’ Disability Compensation Agency show the average workers’ comp settlement amount in Michigan for 2022 was $62,315.56. Our clients get more when evidence shows the need for additional medical treatment and extended time off from work.
What is the average workers’ comp settlement amount in Michigan based upon?
The average workers’ comp settlement amount in Michigan is based upon how much the insurance company thinks it must pay in future benefits. This includes payments for medical treatment, lost wages, and vocational rehabilitation. Unfortunately, pain and suffering are not factors that are considered.
A good starting point for a settlement is multiplying the weekly comp rate by 52. This shows how much the insurance company might have to pay in annual wage loss benefits. Insurance companies will typically negotiate a payout amount based upon several years of disability.
Watch out for insurance companies who make lowball offers.
Watch out for insurance companies who insist on using post-injury wage earning capacity (PIWEC) to reduce the weekly comp rate. This happens when someone is considered only “partially disabled” and able to find other work. Our experience shows that insurance companies abuse this process and unfairly reduce settlement offers.
It is also important to understand future medical needs. Insurance companies use so called “independent” medical examinations to say a person has fully recovered. We recommend speaking with a treating doctor to get an idea about what is truly needed. Do not let the insurance company use biased medical opinions to reduce what needs to be paid for settlement.
Hire a work injury attorney who can negotiate a fair payout amount.
Hiring an experienced attorney usually results in a larger payout amount. Understanding medical and legal issues is the key to a successful negotiation. Attorney fees are relatively small and quickly made up by higher settlement offers.
Our attorneys have been exclusively helping injured workers in Michigan for more than 35 years and can help you better understand Michigan work injury laws and explain what happens if you or a loved one has been hurt on the job. To see what our own clients have to say about the caring, compassion, and communication they received from us, you can read in their own words about their experience here on our testimonials page from clients we have helped.
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 (844) 316-8033 for a free consultation today.