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A warning about the 2016 calculation program and how legislative reforms changed the interest rate calculation.

interestWe have previously blogged about the workers’ compensation calculator and how it can be used to double check insurance company math. Now here is a warming about the interest rate calculation feature.

The Michigan Legislature passed significant reforms in 2011. A provision that did not get much attention involves how interest is computed when a claimant receives an award of benefits from a magistrate. It also changed the interest rate.

Interest is now calculated like a money judgment in a civil action under the Revised Judicature Act. More information about this calculation can be found at the Michigan Department of Treasury.

Our 2 cents

Plaintiffs are still entitled to receive interest on awards ordered by a magistrate. The math is just more complex.

Some cases can take years to resolve and interest can be in the tens of thousands. We recommend seeking the help of an experienced attorney to ensure you are receiving the correct amount.

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:

2016 Calculator Program Released

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Author Bio Jeffrey Kaufman

Author
Jeffrey E. Kaufman
Michigan Workers Comp Attorney

Jeffrey E. Kaufman has extensive experience in workers compensation cases and has recovered millions of dollars in benefits for his clients. He believes all injured workers deserve to be on equal footing with insurance companies and employers, and fights tenaciously so their rights are secured and protected.


“Jeff also helped me with getting my Blue Cross bills paid. I would absolutely recommend him and the whole firm. Jeff and the firm did everything they were supposed to do for me and my case.”
Ricardo Perfetto

Hundreds of 5-Star Reviews

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Get Help From our Michigan Workers’ Comp Lawyers Today

You’re not alone. Our Michigan workers’ comp lawyers have been called the best in the state, and our clients love how they’re treated with care, respect, and responsiveness. We will give you the time you need, we will explain your legal rights, and we will always treat you with respect.

Our workers’ compensation and Social Security disability lawyers always put your needs first. Get to know your legal team.

Our attorneys post regularly about common issues related to workers’ comp, including common injuries, settlement calculations, laws, and more.

Injured? It’s Time to Get Some Answers

Don’t let the insurance adjuster push you around. Request your free consultation today.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Our attorneys post regularly about common issues related to workers’ comp, including common injuries, settlement calculations, laws, and more.

Our workers’ compensation and Social Security disability lawyers always put your needs first. Get to know your legal team.