Learn how, when, and if you should settle your Georgia workers’ compensation claim.
Workers’ compensation rules in Georgia heavily favor settlement. If you settle your case, you will get money fast and avoid the stress and uncertainty of a workers’ compensation hearing. However, you must usually shut out your claim for good.
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What Exactly Is a Workers’ Compensation Settlement?
There are two kinds of workers’ compensation agreements in Georgia. A liability settlement is the resolution of a claim for which the insurance company has agreed to pay. When there is a real disagreement regarding your eligibility for benefits, a non-liability settlement terminates the claim.
The majority of settlements are paid in one big payment. However, the insurance company may instead agree to a structured settlement. Structured settlements are often employed when a worker has catastrophic injuries that are permanently incapacitating and need long-term care. Instead of a single lump sum payment, you may be paid monthly, yearly, or every few years.
What Rights Do I Give Up When I Agree?
Insurance companies often want a “full and final” settlement of your claim. This means you’ll be relinquishing all rights to your workers’ compensation claim, including future medical treatment. In other words, you won’t be able to request further funds if your illness worsens later on.
The insurance company will sometimes agree to a more restricted compensation. It may, for example, agree to settle your disability benefits while continuing to pay for your future medical care. However, since insurance companies would prefer shut off claims, these restricted settlements are relatively unusual.
In Georgia, how are settlements finalized?
All workers’ compensation agreements in Georgia must be approved by the State Board of Workers’ Compensation. The approval procedures for both liability and non-liability settlements are comparable. Once you and the insurance company have reached an agreement on the terms of your settlement, you must submit documentation with the board, which may include:
a predetermined settlement arrangement (explaining the terms and conditions of your settlement)
Forms for filing claims (such as the Employer’s First Report of Injury)
Medical records describing your present health, information concerning overdue child support, and your lawyer’s fee agreement and other fee-related paperwork.
The records will be reviewed by the board without a hearing. If your paperwork is in order, the board will usually approve the settlement.
Is it possible for me to change my mind?
Workers’ compensation agreements are not final unless they are authorized by the board. So, even if you’ve already signed and submitted the settlement papers, you may always rescind it before then.
Because settlements are binding, you should definitely consider consulting a Georgia workers’ compensation lawyer before signing anything. Many employees undervalue their workers’ compensation claims or settle them too soon. A lawyer will assess your claim, negotiate a reasonable compensation, and ensure that all of your paperwork is done appropriately.
How Much Will I Be Awarded in a Settlement?
Calculating settlement values is a skill that cannot be learned by merely entering a few numbers into an online settlement calculator. Instead, the amount of your claim will be determined by a number of variables, including the severity of your injuries, if there is contradictory evidence in your case, and whether you can return to work. See our page on Georgia workers’ compensation benefits for an idea of how much you could be entitled to. Only a lawyer experienced with your case, however, can tell you if a particular settlement offer is reasonable.
Depending on the nature of your claim, some things will be deducted from your settlement cheque. These expenses may include:
attorney’s fees and court expenses
back child support, outstanding medical costs, and a Medicare set-aside account (money to cover future medical expenses related to your work injury, which must be spent before Medicare will cover treatment).
Read our post on how much of your settlement you will get to retain to learn more about these deductions.
When Can I Resolve My Georgia Workers’ Compensation Claim?
You have the option of settling your workers’ compensation claim at any moment. However, while you are still recuperating, it might be difficult to accurately evaluate a settlement. That’s why most employees wait until they attain maximal medical improvement before settling their claims—the moment at which your health is stabilized and will no longer improve with therapy.