It’s no secret that Georgia law strongly encourages settlement in workers’ compensation cases. Most injured workers in Georgia will eventually consider and/or accept a settlement offer. Accepting a settlement can be both good and bad, depending on the situation. On the one hand it can help with the mounting bills. However, once a settlement is reached, the injured worker will not be eligible to receive compensation for any future medical treatment.
How Does A Workers’ Compensation Settlement Work?
In the state of Georgia, workers’ compensation settlements are generally paid in a lump sum. Insurance companies often demand the settlement be full and final, meaning that after the settlement is accepted and you take your lump sum, you give up any rights to future benefits. Once the settlement is finalized, you won’t be able to ask for more money down the road even if your condition worsens. There are few indications where the insurance company might agree to a structured settlement, but usually only if the injury is debilitating and will require long term care.
Body parts matter in Georgia.
In Georgia, the part of your body that was injured matters. Meaning, specific body parts hold more value than others. Your arm is more valuable than your leg, your thumb is more valuable than your index finger, and your foot is more valuable than your ear. Workers who have an amputation of the arm, hand, leg or foot are considered to be permanently and totally disabled and receive a part of their wages until they are able to return to work or as long as they live. Georgia is generous when it comes to catastrophic injuries that will be calculated into any settlement.
What if I change my mind and don’t want to settle?
The State Board of Workers’ Compensation in Georgia provides final approval for your settlement. You can back out of the settlement up until that moment no matter if the papers are signed or not. But once the Board approves the settlement, it is final and there is no turning back. For this reason alone, it is imperative that you talk to a Georgia workers’ compensation attorney so that you understand the exact value of your claim and the settlement being offered. In other words, don’t sign anything until you have talked to a lawyer. You also want to make sure you are medically at your maximum improvement and are not likely to improve much more. This way a calculation for the settlement can be properly formulated.
Is it possible my claim could stay open?
It doesn’t make good sense to keep a claim open as they don’t get better with age. But there are certain reasons why a claim might stay open. One reason is if there is a strong disagreement on the value of a claim between you and the insurance company. Another reason has to do with concerns of running out of money and not being able to afford care. But occasionally the ambiguity of laws and compliance with programs such as Medicare keeps workers from agreeing to settle. Claims that stay open are usually dealt with by a neutral third party.
As an injured worker, it is important to understand that while you are getting a large sum of money up front, you are giving up your rights to weekly benefits, most medical benefits, and future payments. WIth that said, a good workers’ comp attorney is going to calculate your future needs into the lump sum so that you can take care of yourself properly. Insurance companies are notorious for trying trickery in an attempt to reduce the value of the settlement. You need a lawyer on your side countering these tricks so you can get the maximum value for your claim.