How Much Is My Workers Comp Case Worth?
This is one of the most common questions asked of attorneys practicing in workers compensation, or any personal injury type of law. For someone who has sustained a work-related injury, with potentially career ending consequences, this is often times their primary concern. Are they going to be able to get enough money to support themselves going forward?
Section 48 of Chapter 152 provides that the parties to a workers’ compensation case may enter into an agreement to “settle” the claim by the payment of a lump sum amount. In other words, the parties can agree to “close out” the case by a payment of a certain sum of money to the Employee. As mentioned above, the main question on the Employee’s mind is usually, “how much am i going to get?”.
Unlike personal injury cases like a motor vehicle accident, or a products liability case, workers’ compensation cases are valued in a very specific way. The two main components to determining the monetary value of a workers compensation case are 1) the Employee’s compensation rate, and 2) the amount of time the Employee could remain on workers comp weekly benefits. With some limited exceptions, these are often the only two factors that will go into determining a settlement amount.