Is The First Offer The Best Offer in a PA Workers Comp Settlement?

If you sustain an injury while working, it is quite possible that you have the right to receive workers' compensation payments, which will cover the costs of your medical expenses and the income you have lost as a result. Following your injury, at a certain point throughout the course of your claim, the workers' compensation insurance company could propose a lump sum of money to settle your claim. You might be tempted to agree, particularly while facing financial constraints and unable to engage in employment. It is crucial to understand that accepting the initial workers' compensation offer is unlikely to be in your best interest and may not cover all of your losses after being injured.

It is advisable to exercise caution and think carefully before agreeing to your initial workers' compensation settlement offer. Although the offer may appear appealing, it is crucial to carefully evaluate all the variables that could impact your situation. For instance, in cases where your injury is severe and requires continuous medical treatment or extended rehabilitation, the initial offer may not cover all of your future expenses. Keep in mind that the insurance company is primarily serving your employer's interests, not yours, and will propose a settlement that reduces their financial liability as much as possible. If you need to consult with a PA workers compensation attorney at Brandon J. Broderick today, feel free to contact us.

In the article that follows, we will examine the workings of workers' compensation settlements in Pennsylvania, the most important factors to assess if the settlement amount is appropriate, and the aftereffects of rejecting an offer from the insurance company.

What Is the Meaning of a Compensation Offer?

In Pennsylvania, there are two different types of workers' compensation benefits that you may be eligible to receive in the event of an on-the-job injury or illness:

• Medical benefits - Usually, you would initiate the workers' compensation claim by submitting it to the insurance company of your employer. Upon approval of your claim, the insurer is obligated to provide coverage for all essential and justifiable medical expenses associated with the injuries you sustained. You are eligible to receive benefits until you achieve complete recovery or reach a stage where additional medical intervention will not have a significant impact. This is commonly referred to as maximum medical improvement (MMI).
• Wage-loss benefits - If your injuries result in an absence from work exceeding seven consecutive days, you qualify for wage-loss benefits. State law establishes a maximum benefit amount that is equal to two-thirds of your weekly wages.

You may receive a settlement offer from your employer's insurance provider. Within a workers' compensation settlement, the insurer consents to provide you with a specific sum of money to compensate for both your previous and anticipated medical costs as well as your lost wages. By agreeing to a settlement offer, you typically forfeit the opportunity to get any further benefits. This may enable them to undercompensate you for your entitled workers' compensation benefits, particularly if you have sustained severe injuries that may be of a permanent nature.

In Pennsylvania, How Do Workers’ Compensation Settlements Work?

You must notify your employer of the injury and file a claim with the Pennsylvania Bureau of Workers' Compensation in order to be eligible for compensation. Although there is a 120-day grace period, to receive maximum compensation, you should notify your employer of the incident as soon as possible, preferably within 21 days.

Your wage loss benefits begin on the first day if your employer and its workers' compensation insurance company accept your claim after receiving notice within twenty-one days. You will have an additional 120 days from the date of the injury to report it, but benefits will likely begin on the date the injury is reported rather than the date the injury occurred. Noncompliance with the 120-day reporting requirement may result in the denial of benefits.

Both parties may attempt to initiate settlement discussions at any time after the report of a work-related injury, regardless of whether the claim is accepted or denied. You, as the injured party, engage in negotiations with your employer and their insurer as part of the settlement process. In determining settlement amounts, the circumstances of the case, medical records, amount of time missed from work, level of disability, and evidence presented are all taken into account.

Although not mandatory, the assistance of a PA workers' comp attorney can be advantageous when negotiating a settlement. Keep in mind that settlements are completely voluntary and require the agreement of both parties. After the agreement has been signed, it becomes final, and no additional recompense can be awarded.

It can be difficult to navigate the complex workers' compensation system, particularly if you have sustained a severe injury. Employing the services of an experienced attorney can facilitate the procedure and guarantee the compensation amount that you deserve. A legal professional can provide assistance with claim filing, settlement offer evaluation, settlement amount negotiation, and protecting your interests.

Key Considerations Prior to Accepting a PA Workers’ Compensation Settlement Offer

Sustaining a severe workplace injury is consistently challenging. An occupational accident can not only give rise to intricate medical complications but can also impact your financial stability. Prior to accepting a workers' compensation settlement, it is crucial to take into account certain factors, despite the potential for immediate financial relief.

In order to secure appropriate compensation, it is crucial to possess comprehensive knowledge regarding your options and the best course of action. Before accepting an offer, it is essential to examine several factors:

• The severity of your injury and its impact on your future: Prior to accepting any settlement offer, it is advisable to assess the gravity of your injuries and the potential long-term effects they may have on your life. It is important to include both your current and future medical expenses, lost income, and any chronic physical or mental suffering resulting from the accident. If your injuries are of a permanent nature, it is possible that you will be unable to resume employment altogether.
• Your profession and job requirements: Depending on the nature of your occupation, your injuries may hinder your ability to resume employment in the same position or industry. Although you may still be capable of working, you may need to seek alternative employment that can accommodate your disability, potentially resulting in a lower salary. It is advisable to incorporate this missing potential income into your decision-making process. It is advisable to think about the potential impact of this on your future employment opportunities or professional path. It is important to take into account any potential loss of benefits or employment stability that you could have been eligible for due to your accident.
• The Settlement Amount and the History of the Insurer: Upon receiving a settlement offer, it is advisable to thoroughly examine the details of the settlement and consider the possibility of requesting an increased amount. A workers' compensation attorney can help you determine an equitable response. When a claimant refuses the initial settlement offer from the insurance company, the insurance company may occasionally issue threats to explore alternative courses of action, such as an independent medical evaluation or even suspension or termination of employment. It is likely that your attorney is knowledgeable about which threats lack basis and how to provide an appropriate response. Having skilled legal representation in this scenario can be vital.
• The Implications Associated with Agreeing to a Settlement: By accepting, you waive your right to legally pursue your employer and its insurance carrier for any additional benefits arising from the work-related injuries. This could have significant consequences, especially if you have sustained severe injuries. Seeking advice from a lawyer can provide you with the necessary knowledge to make the best possible decision.
• Your case timeline: Managing workers' compensation cases can be challenging and may require a significant amount of time, often spanning several months or even years, to reach an agreement. Consider the current status of your case, evaluate the logic of accepting the settlement offer, and determine whether it would be more advantageous for you to continue pursuing your claim. Both options have their own benefits.

Prior to agreeing to a workers' compensation settlement, it is essential to take into account all of the factors that can influence the amount of your settlement. Consulting an experienced PA workers’ comp attorney is essential for understanding a fair and reasonable settlement sum and deciding the best course of action based on your specific circumstances.

Should I Accept the Initial Settlement Offer From the Insurance Company?

It is recommended to decline the initial workers' compensation settlement offer from the insurer, as it is generally not in your favor. Insurance companies, being profit-oriented enterprises, may present inadequate settlement offers, anticipating that individuals will give in and proceed. This does not imply that you must accept the offer or that the insurance company is unwilling to provide a higher settlement. Before agreeing to a settlement offer from the insurance company, it is important to seek advice from a skilled PA workers' compensation attorney, as there will be no chance for additional negotiation or compensation once the settlement is finalized.

What Happens If I Reject the Initial Workers’ Compensation Offer?

Although workers' compensation benefits can offer immediate support, it is likely that you are entitled to more than what was originally proposed in a settlement agreement. Here is an overview of what you might expect if you consider declining the initial offer from the insurance company:

Review the Offer With a Workers’ Comp Attorney

Prior to declining a settlement offer, it is important that you understand the rights you have as an injured employee. It is advisable to seek the guidance of a workers' compensation attorney who can assess the settlement offer and determine its fairness. If the offer is deemed unreasonable, your legal counsel can assist you in engaging in negotiations with the insurance company to secure a more substantial settlement.

Be Patient Throughout the Process

The process of rejecting a workers' compensation settlement and starting discussions can be lengthy. It is crucial to maintain patience and work with an experienced attorney who can navigate you through the procedure with confidence.

Declining a workers' compensation settlement is an intricate procedure that requires familiarity with Pennsylvania's workers' compensation laws. If you are contemplating declining a workers' compensation settlement offer, it is crucial to comprehend your legal rights and options. By retaining the services of a skilled attorney, you can secure an adequate settlement that effectively caters to your requirements as a worker who has suffered injuries.

If the initial offer fails to achieve that specified amount, you have the right to decline it and propose an alternative offer. At that point, the attorney representing you and the workers' compensation insurance of your employer will exchange offers until they arrive at a mutually agreeable sum. In the event of a failure to reach an agreement, the matter will be presented to a judge, who will render a verdict. Afterwards, each side is granted a period of 20 days to initiate an appeal.

A Workers’ Comp Attorney at Brandon J. Broderick Can Help You Review Your Pennsylvania Workers’ Compensation Settlement Offer Today

If you have sustained an injury while on the job, it is understandable that you could be tempted to agree to the initial settlement offer. However, it is important to keep in mind that this may not be beneficial for you. A lawyer from Brandon J. Broderick is prepared and willing to assist you in examining and assessing your settlement offer. We have assisted countless injured employees in Pennsylvania in navigating their workers' compensation settlements to ensure their present and future well-being.

Retaining an attorney guarantees that you have an advocate who is fully supportive of your interests and capable of determining the true worth of your claim, as well as evaluating any potential settlement offers made by the insurance company. In the end, it is crucial to have an individual who can protect your rights, enabling you to concentrate on what is most important: your physical and mental wellness.

Contact us today to take advantage of our free consultation and allow us to assist you. We are looking forward to supporting you.