Settling Your Workers’ Compensation Claim
With a focus on workers’ compensation claims, the attorneys at Silverman, Silverman & Seligman, P.C., are dedicated to representing injured workers, protecting their rights and pursuing the maximum compensation they are entitled to under the law.
If you have been injured at work, you need an experienced and knowledgeable attorney who will simplify a complex and sometimes frustrating process. During this difficult time, we will remain at your side to provide compassionate advocacy and answer your questions.
When A Disability Is Truly Permanent
Prior to July of 2007, permanent partial disability (PPD) meant just that. A PPD in the neck or back meant that you could not go back to work permanently and you would receive benefits indefinitely. In our 40 years of handling workers’ compensation claims at Silverman, Silverman & Seligman, P.C., in Schenectady, we saw the biggest change in the law several years ago. Benefits are now provided for a temporary window of time based on the extent of your disability. Those payments will stop at some point and you could be denied necessary financial support. However, reaching a settlement for your workers’ compensation claim could give you the benefits you deserve.
How Does A Workers’ Compensation Settlement Work?
The workers’ compensation settlement process in New York is a formal legal procedure that officially ends your claim in exchange for a specific amount of money. Most settlements in our state occur through what is known as a Section 32 Waiver Agreement. This is a voluntary contract between you and the insurance carrier. Once you sign this agreement and a judge approves it, you waive your right to future weekly benefits and, in many cases, future medical coverage related to your work injury.
The process begins with a period of negotiation where we work to determine a fair value for your claim. After both sides agree on a figure, the agreement must go before the New York State Workers’ Compensation Board. A workers’ compensation judge will hold a hearing to review the documents. The judge’s primary role is to ensure you understand the terms and that the agreement is not unfair. After the hearing, there is a mandatory 10-day “waiting period” during which either side can withdraw from the deal. If no one withdraws, the agreement becomes final and legally binding, and the carrier must issue your payout shortly thereafter.
Are Settlements Encouraged?
While settlements were once discouraged by workers’ compensation boards, they are now encouraged. In fact, the new laws encourage claimants and insurance companies to attempt to negotiate, rather than litigate a resolution. Although medical coverage for those injuries will cease, there are many advantages to settling your workers’ compensation claim. An experienced workers’ compensation lawyer can help you better understand if you should settle your claim.
What Should You Look For In A Workers’ Compensation Settlement?
While there are pitfalls to avoid, a workers’ compensation settlement can be a very positive step. It provides you with a sense of closure and the financial freedom to move on from your work injury. A well-structured agreement could give you a lump sum of money that you control, rather than waiting for weekly checks from an insurance company. When evaluating an offer, you should look for specific elements that ensure the deal is beneficial.
A strong settlement should include:
- Adequate compensation: The total amount must cover your past unpaid benefits and your future lost wages.
- Medical cost projections: The funds should account for the realistic cost of your future prescriptions, surgeries or therapy.
- Liability release: Clear language that explains exactly which parts of your claim you are closing and which, if any, remain open.
- Medicare set-aside: If you are a Medicare beneficiary or will be soon, the deal should include a plan to protect your future government benefits.
- Fair valuation: The offer should reflect the specific classification of your injury and your current level of permanent disability.
Ultimately, a good settlement provides peace of mind. It allows you to manage your own healthcare and financial future without interference from the insurance carrier. By ensuring your agreement covers these essential points, you can settle with confidence and focus on your long-term recovery.
Talk To A New York Workers’ Compensation Lawyer For Free
If you have experienced a work-related injury that resulted in a permanent partial disability, you can talk with one of our experienced lawyers. Call 518-631-4521 or contact us online for a free initial consultation with a New York work injury compensation attorney. We serve clients in Albany and all upstate Capital District counties.