After your workplace injury, your first priority is to get the treatment you need to recover and heal. After that, your plate quickly fills up with other important matters, such as reporting your injury, getting your workers’ compensation claim started, and receiving compensation for your medical expenses and lost wages.
Depending on your prognosis and how long the entire workers’ claim process takes, you may be in a position that leaves you feeling as though you must accept the first settlement offered to you. The only problem with this, however, is that the first settlement offered to you may not be enough. Below are a few of the things you should consider before making the decision to accept the settlement or reject it in favor of negotiating a better deal.
Things to Consider When Facing a Workers’ Compensation Settlement
Unfortunately, workers’ compensation claims do not run like clockwork. You may receive your medical benefits and struggle to recover wage loss benefits, or everything could seem fine until suddenly payments shrink or stop altogether. Whether you are looking to recover improperly paid benefits for a temporary injury or seeking a lump sum payment now for a permanent disability, a settlement may be able to help you.
If you are looking to amend unpaid benefits or you are expected to suffer from permanent disability due to your workplace accident, a settlement can help you get the amount you need to make things right. With smaller discrepancies and partial disability, this can be a convenient way for you to receive your money upfront.
On the other side of the argument, accepting a settlement could permanently close your case, and with it your option to receive future payments or revisit your claim should your condition worsen. This means that future medical costs related to your workplace injury could be on your own dime.
If You Are Offered a NJ Workers’ Compensation Settlement, Speak to an Attorney Today
No matter what your injury or prognosis, it is always best to speak with an experienced workers’ compensation attorney prior to accepting or rejecting a settlement. It can be very challenging to determine what amount, if any, you should settle for, and an attorney can help you ensure that you are making the best possible decision. For help with your own settlement, contact me today by phone or by filling out the online contact form to discuss your case in a free, confidential consultation.