Suffering a workplace injury can significantly impact your life, including the infliction of both physical and emotional trauma. To make matters worse, injured workers are then forced to navigate the inherent complexities associated with Florida’s workers comp settlement process after filing a claim. A critically important decision an injured worker may face in this process is whether to agree to a settlement of a workers’ comp claim.
The information below is intended to shed light on the Florida workers’ comp settlement process, including pitfalls to avoid.
Understanding the Florida Workers Comp Settlement Process
The workers comp settlement process in Florida entails negotiating an agreement where an injured worker (i.e., you) agrees to accept a specific sum in exchange for relinquishing any future claim, or claims, against your employer concerning the workplace injury or illness.
A workers’ comp settlement offer requires careful consideration and evaluation since, once you agree to the settlement, you will not be able to pursue additional financial compensation at any point down the road for your workplace harms and losses. The long-term implications of a workers’ comp settlement is another reason why it makes sense to hire an effective and skilled Florida workers’ comp lawyer.
Having a lawyer by your side can improve your chances of securing a sizable settlement that properly compensates you for your harms and losses.
Overview of Maximum Medical Improvement (MMI) and Its Role in the Florida Workers’ Comp Settlement Process
In Florida, MMI is a term used to signify the point where a worker’s injury stabilizes and no further improvement is expected in the foreseeable future.
When a workers’ comp claim is filed, there will likely be an effort to determine MMI. Why? To try and assess the full extent of the workplace injury or illness and its potential long-term impact on the harmed worker.
Determining an MMI is not always necessary in the Florida workers’ comp settlement process. Depending on your specific circumstances, it may be possible to negotiate a settlement without arriving at an MMI.
Evaluating a Florida Workers’ Comp Settlement Offer
When assessing a proposed workers’ comp settlement offer, it is important to understand the full scope and ramifications of agreeing to the settlement. If you sign off on the settlement, you are effectively accepting a lump sum, or multiple scheduled payments, in exchange for giving up any future claims against your employer related to the workplace injury or illness.
Obviously, a worker’s comp settlement can provide immediate financial relief to the injured worker, but there is an inherent risk that the lump sum may not fully cover all the harms and losses you’ve endured as a result of the workplace injury or illness. This is why a proper evaluation of the settlement offer is so important.
Here are some important factors to consider when assessing a workers’ comp settlement offer:
- Your Future Medical Treatment and Expenses: It is critically important to conduct an evaluation of your future medical treatment needs and associated expenses. This is necessary because future surgeries, medications, and/or ongoing therapy can add up, especially over the long term. You need to make sure the proposed settlement offers covers these important medical expenses.
- Availability of Disability Benefits: Assess whether the proposed workers’ comp settlement will adequately compensate you for any long-term impairment or disability. For example, will the proposed settlement properly compensate you for lost wages, diminished earning capacity, and potential rehabilitation costs? This question needs to be answered before you agree to any settlement.
- Consider Unpaid Benefits and Penalties: When evaluating the proposed lump sum settlement, do not neglect unpaid benefits you may be entitled to, or potential penalties against the insurance company for delaying payments. These factors are known to increase the overall value of a workers’ comp settlement offer.
The Role of Negotiation in the Florida Workers Comp Settlement Process
In the Florida workers comp settlement process, negotiation plays a large role. In effect, negotiation typically involves a back-and-forth between you (or your Florida workers’ comp lawyer) and the insurance company. To properly negotiate a workers’ comp settlement, it is important to understand the full valuation of your workplace injury or illness claim. This means evaluating various factors such as medical expenses, lost wages, diminished earning potential, and so forth.
If settlement negotiations do not prove fruitful, mediation might be recommended. Mediation involves retaining a neutral third party to help facilitate communication and, hopefully, get both sides to ultimately reach a mutually agreeable resolution.
Obtaining Approval of the Workers Comp Settlement Process
In order to settle a workers’ comp claim in Florida, approval from a workers’ comp judge is required, specifically to approve the estimated fees of your Florida workers’ comp attorney. Under Florida law, judicial review of the settlement itself is not needed when you are represented by legal counsel. The assumption is that your Florida workers’ comp attorney properly safeguarded your rights and interests.
Once all necessary paperwork is signed, the workers’ comp settlement will be approved and go into effect.
Have Questions? Contact a Knowledgeable Florida Workers’ Comp Lawyer Today
Understanding the Florida workers’ comp settlement process – including how to properly assess a settlement offer- and retaining the services of experienced workers’ comp lawyers in Florida are important steps to ensure that your settlement decision is informed and made in your best interests.
Proper legal guidance can mean the difference between securing a fair and comprehensive settlement, or inadvertently agreeing to a lowball offer that does not properly compensate you for your harms and losses.
If you are looking for an experienced and knowledgeable Florida worker’ comp attorney, then contact Garnes Injury Law – Pembroke Pines Office today to schedule a free, confidential case evaluation.
