Information on the average for a workers’ comp redemption amount in Michigan and how to get a fair settlement.
Many people who are hurt on-the-job want to know about the value of a workers’ comp case. How much can they expect from a workers’ comp redemption in Michigan? Here are some statistics and data points that are helpful in this analysis. Please remember that every situation is different, so it is a good idea to consult with an experienced workers’ comp lawyer before accepting a settlement.
The Workers’ Disability Compensation Agency has published its 2023 Annual Report. It is full of interesting statistics and data points that can be used to evaluate settlement value. Data shows the average redemption amount for a workers’ comp case in Michigan in 2023 was $55,866.00.
Many of our clients are shocked to learn this statistic because it does not sound like much money. This is especially true for a person who will have lifetime medical bills and restrictions. Here are some tips on how to get a fair workers’ comp redemption in Michigan.
Settlements are based upon how much the insurance company thinks it must pay in future benefits. This includes both medical treatment and wage loss. It is a business decision and fighting a case at trial is sometimes a cheaper option. Damages for pain and suffering are not allowed.
An experienced work injury lawyer can ensure a fair workers’ comp redemption in Michigan by developing medical and vocational evidence. This requires knowledge of Michigan law and unique trial experience. Understanding legal issues and knowing how to negotiate is the best way to get maximum dollars.
Settlement is a great way for people on workers’ comp to get away from the insurance company. Money can be used for any purpose including medical treatment, vocational rehabilitation, transitioning to a new job, starting a business, paying off debt, or retirement. It allows for an individual to get back on his or her feet and start fresh. It also means they can also start a new job without fear of getting cut off.
Some disabled employees also want to collect Social Security disability benefits (SSDI) too. There is usually an offset when a person receives both SSDI and workers’ comp together. This lost money is even taxable under some circumstances. A workers’ comp redemption in Michigan can eliminate this offset when it has been prorated over a person’s lifetime.
Attorney fees are capped at 15% of the total settlement if there is no dispute. The fee is 20% of the first $100,000 and 15% on the remainder if it is in court. The initial consultation will always be free.
Injured on the job and need legal help? Call our attorneys now for a free consultation!
If you were injured on the job in Michigan have questions about a workers’ comp redemption, call now (855) 221-2667 or fill out our contact form for a free consultation with an experienced lawyer. There is absolutely no cost or obligation. We’re here for you.
For more than 40 years, our lawyers have been helping people like you who have suffered from on the job injuries in Michigan. We understand the physical, emotional, and psychological hardships you are experiencing from your accident. We also have the skill, experience, and know-how to protect you and get you the best possible payout amount for your case.
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.
Remember, every work injury claim and settlement is different and must be negotiated on its own merits. Do not accept any payout amount without fully understanding your legal rights.
Michigan Workers Comp Lawyers never charges a fee to evaluate a potential case. Our law firm has represented injured and disabled employees exclusively for more than 40 years. Call (855) 221-2667 for a free consultation today.
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