| Author | Subject: LUMP SUM SETTLEMENTS? |
| DEE | Posted At 12:27:17 07/26/2001
I was severely injured at work 6 years ago. Retired & delaired perm/total disabled 4 years ago in Michigan. I keep hearing about LUMP SUM SETTLEMENTS that are offered at P/T hearings & that there's a time limit. I was never offered such a settlement.( My lawyer told me I don't want to settle my W/C claim because I have a MED SHIP in my future) W/C was just ordered to pay of ALL of my back medical they had previously refused to pay, and they agreed to continue my regular checks & continued med for life, & pay for mileage and $5 per hour for a driver to/from any med treatments, plus meals and lodging (within reason) if my appts. were out of the area. Nothing that they weren't doing already (since my lawyer steppd in and started pushing for my rights). Are these settlements just for loss of body function? Or is it the W/C settlement my laywer was talking about that would let W/C off the hook for lifetime payments? What is a normal settlement amount if I keep them paying for my med? Can anyone tell me more? |
| Terry |
Re: LUMP SUM SETTLEMENTS? (Currently 0 replies)
Posted At 13:35:25 07/26/2001 It depends on what state you're in and the percentage of your permanent disability as to what the lump sum would be. You can get a lump sum for your injury and continue to have the insurance carrier pay all future medicals or you can get a lump sum for all, but it's best if you keep your medical open as most carriers will only give you 30 cents on the dollar for estimated future medical. Contact your attorney or the insurance carrier (yech) for more details. Wish I could help more. |
| db55 |
Re: LUMP SUM SETTLEMENTS? (Currently 0 replies)
Posted At 14:58:30 07/26/2001 Check www.workerscompensation.com and this may help. The Michigan statute is listed there and it will address the settlements allowable in the state. If your are interested in settling the medical I would suggest you request a future medical needs assessment from your doctor to include a treatment plan and cost of same. It is true that the insurance company is not likely to settle for 100% of this but it is possible to gey more than 30 cents on the dollar. Remember no insurance carrier can force an injured employee to settle. The decision is always yours. |
| DEE |
Re: LUMP SUM SETTLEMENTS? (Currently 0 replies)
Posted At 21:18:43 07/26/2001 Thank you for the information. I will check this out further. I definately don't plan to jump into anything. |
| Name: | |
| E-Mail: | |
| Subject: |
This message board has been closed in regard to posting new messages and follow-ups although pages can be viewed. Page loading time had become excessive. Please use the "Message Forum" link from our Main Page here to contribute to our new and improved forum.