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How Much Should I Expect from a Workers’ Comp Settlement?

If you’ve been injured on the job, you may worry about whether your workers’ comp settlement amount will cover your medical expenses and lost wages. This is a common and understandable concern in your situation.

However, there is no simple way to answer the question of how much you should expect from your settlement because the value of your claim depends almost entirely on your individual circumstances.

Some of the many questions we ask to get a better grasp of what your settlement amount could be include:

  • What is the nature of your injury?
  • How severe is your injury?
  • How much do you make?
  • How long will you be out of work?

Here, we will give you a better idea of how your benefits are calculated, what you can do to ensure you are getting a fair settlement, and more.

The best way to maximize your workers’ comp settlement amount is to consult an experienced attorney. At Colling Gilbert Wright, we proudly champion the rights of injured workers throughout Florida. We’re here to guide you through this difficult time with care, compassion, and determination.

If you have been injured, call (407) 712-7300 today to schedule a FREE consultation with an Orlando workers’ comp lawyer. We will make sure you are treated fairly and pursue the compensation you need to move forward.

Determining the Value of Your Workers’ Compensation Claim

Under Florida law, qualifying workers can receive two main types of workers’ compensation benefits. The Florida Division of Workers’ Compensation (DWC) defines these as (i) medical benefits and (ii) lost wages and other monetary compensation.

1. Calculating Your Medical Benefits After a Job-Related Injury

If you qualify for workers’ compensation, you are entitled to coverage of the medical costs associated with your diagnosis, treatment, and recovery. Note, however, that your choice of doctors is limited.

Florida law allows employers to designate a list of approved physicians—or even one specific doctor in some cases—whom their employees can see when they file for workers’ compensation benefits.

Generally speaking, you are entitled to receive full medical benefits until you fully recover or reach your maximum medical improvement (MMI). MMI is the “date after which further recovery from, or lasting improvement to, an injury or disease can no longer reasonably be anticipated.” Once you reach your MMI, you will be required to pay a copay.

The costs your medical benefits cover should include:

  • Hospitalization
  • Doctor’s visits
  • Emergency room visits
  • Surgeries
  • Medical tests
  • Prescriptions
  • Prosthetics and other medical devices
  • Physical therapy
  • Rehabilitation
  • Mileage reimbursement (for travel to and from medical appointments and the pharmacy)

When it comes to settling your claim, it may or may not make sense to include your medical benefits as part of your workers’ comp settlement amount. If it isn’t clear how long your injury will last or what type of treatment you might need in the future, then you may want to settle the lost wages portion of your claim only.

On the other hand, if your doctor has prescribed a clear treatment plan and is relatively confident in their assessment of your long-term needs, settling your medical benefits claim could be beneficial. This approach may allow you to avoid concerns about the insurance company terminating these benefits prematurely.

Weighing these potential benefits and risks isn’t easy. A certain amount of experience and legal knowledge are required to make an informed decision. A dedicated workers’ compensation lawyer can evaluate your claim and help you make the right choice.

Your recovery isn’t just about your health—it’s about reclaiming your life and securing your future. Allow your attorney to shoulder the legal details while you focus your energy on getting stronger.

2. Calculating Your Lost Wages and Other Monetary Compensation

Calculating your lost wages and other monetary compensation can be a bit more complicated. These benefits (which are often simply referred to as disability benefits) fall into four different categories. You may be entitled to benefits in more than one category over the course of your recovery.

The types of disability benefits available to qualifying workers in Florida per the DWC are:

  • Temporary Total Disability (TTD): If you are unable to work as a result of your injury, you may be entitled to TTD benefits. These benefits are calculated at 66 ⅔% of your weekly wage at the time of your injury in most cases. Certain severe injuries will qualify for benefits calculated at 80% of your weekly wage for up to 6 months after the incident.
  • Temporary Partial Disability (TPD): If your doctor clears you to work with restrictions after being out of work for a period of time, you may be able to collect TPD benefits. In order to collect TPD benefits, you must be earning less than 80% of your pre-injury wages.
  • Impairment Income Benefits (IIB): If you reach MMI and are never able to return to your old job, you may qualify for IIB. Your doctor will assign you an “impairment rating,” and the amount of your benefits will be based on this rating.
  • Permanent Total Disability (PTD): PTD benefits are available to qualifying employees who are never able to work again. These benefits are calculated based on the unique circumstances of your individual case.

Temporary disability benefits may be available for up to 104 weeks.

When it comes to accepting a settlement, the first step toward making an informed decision is understanding how much you are entitled to recover. While the DWC provides benefit calculators online, these calculators are not guaranteed to be accurate.

It is extremely important to work with a workers’ compensation lawyer who can accurately calculate your disability benefits based on your individual circumstances. Your attorney can negotiate a fair settlement on your behalf, appeal denials, represent you at hearings, and so much more.

Ultimately, with a dedicated lawyer on your side, you can feel confident knowing that your workers’ comp settlement amount will adequately reflect the benefits you deserve.

Do All Workers’ Comp Cases End in a Settlement in Florida?

Not every workers’ compensation case ends in a settlement. Injured workers sometimes prefer to continue receiving ongoing benefits rather than accepting a lump sum. This is often the case when a worker’s future medical needs are uncertain or when they require long-term care.

Still, most cases do end in a settlement. A settlement can provide financial certainty and a sense of relief because disputes and legal battles will come to an end. Settlements can also give injured workers a sense of control over their own finances again instead of waiting for periodic payments from insurance companies.

At the end of the day, the decision to settle depends on your situation and goals. Your lawyer can help you weigh the pros and cons, negotiate on your behalf, and ensure your workers’ comp settlement amount reflects the full value of your claim.

Read More: Can I Sue My Employer for Workers’ Compensation If I’m Injured on the Job?

How Long Do Most Workers Comp Settlements Take?

It’s always difficult to estimate the length of time it will take to come to a fair workers’ comp settlement amount. While some cases may be resolved in as little as a few months, others can take up to a year or more. Factors that could influence the timeline include:

  • The severity of your injury
  • The cooperation of the insurance company in negotiations
  • If your case requires hearings or appeals

Waiting for a workers’ compensation settlement can be frustrating. We know that your well-being and that of your family may depend on this claim. Try to remain patient and keep your goals clear in your mind. With a principled attorney as your advocate, you can rest assured that the claim is moving forward as efficiently as possible with your best interests in mind.

What Is the Average Workers’ Comp Settlement Amount?

When it comes to workers’ compensation settlements, there is no one-size-fits-all answer. Each case is as unique as the individual behind it. However, data from the National Council on Compensation Insurance (NCCI) provides some context.

For accidents from 2021 to 2022, the average cost of all claims combined was $44,179. Of course, this is based only on information from states where the NCCI collects data.

While this figure may give you some general idea of an average claim amount, remember that it has nothing to do with your case. The circumstances of your accident and injuries will determine what a fair settlement amount will be for you. A skilled lawyer will help you understand what your claim is truly worth and pursue the amount you deserve.

When To Hire a Workers’ Comp Lawyer?

Hiring an experienced and compassionate workers’ compensation lawyer is smart, especially if you face any challenges or difficulties with your claim. You should surely consider at least consulting an attorney if:

  • Your claim has been denied or underpaid.
  • Your employer is pressuring you to return to work prematurely.
  • You’re unsure whether the settlement offer is fair.
  • You’re struggling to calculate the full value of your claim.
  • You’re facing retaliation or unfair treatment after filing.

There is an emotional and financial toll you are dealing with on top of the physical pain involved in a workplace injury. An accomplished attorney will guide you through the process, answer questions, protect your rights, and fight to get you the benefits you need to move forward with hope for the future.

Speak with an Orlando Workers’ Compensation Lawyer Today

If you have been hurt on the job, you may be entitled to a range of benefits for your injuries. Unfortunately, payment or settlement of a workers’ compensation claim is not guaranteed.

Colling Gilbert Wright can help you with all aspects of applying for workers’ compensation, appealing underpayment or denial of benefits, and settling your claim. We are dedicated to achieving the optimal workers’ comp settlement amount for you in your case.

Please contact Colling Gilbert Wright today for a FREE case review. Our workers’ compensation lawyers are proud to serve our neighbors in Orlando, Tampa, Miami, and all of Florida.

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