Settlement values vary dramatically, but the factors to consider in determining a settlement are the amount of temporary total disability or your workers’ compensation rate of weekly benefits. Other factors to consider would be how much additional medical care will you need moving forward after the settlement. If you do not need much medical care the insurance company is not going to put much value on your claim for the anticipated medical benefits. Finally is the permanent partial disability benefits, as long as you have received an impairment rating, these benefits, you should be able to calculate to the penny.
What a settlement value is not…it is not a number you want to settle your claim for. The value must be determined by the future exposure or potential the insurance company will have to pay for the income benefits and the medical benefits. That is what they look at and they are the ones with the money to settle the claim.
Be informed. Be aware. Be prepared.
Ty Wilson is a Georgia workers compensation attorney, with offices in Savannah and Atlanta, who provides free information to the injured and the families of the injured. Visit tywilsonlaw.com to order his FREE Georgia workers compensation “Special Reports” and to read his many articles and to watch his videos.
If you have specific questions for a workers compensation attorney in Georgia, give Ty at call 912-508-4711 in Savannah or 770-948-5454 in Atlanta.