When will workers comp offer a settlement?
When Will Workers Comp Offer a Settlement?

You have questions about workers compensation…we have answers.

Wondering “When will workers comp offer a settlement?” or “Should I even accept this offer?” Here’s everything you should know.

 

Whether you work in a warehouse or an office, we all run the risk of suffering a work injury or illness. Fortunately, if you suffer an injury at work, workers comp covers things like medical expenses and lost wages.

Sometimes, this means that your lost wages are reimbursed and your medical bills are covered by your employer’s insurance company. Other times, it comes in the form of a single lump sum settlement.

But you’ve got bills to pay. When will workers comp offer a settlement?

If you’re anticipating a settlement offer, there’s a lot more to consider than the timeline.
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Are Workers Comp Lawyer Fees Worth It?

THE INSURANCE COMPANY HASN’T EXACTLY BEEN EASY TO WORK WITH…

…but is it worth it to pay workers comp lawyer fees?

 

You’ve been injured in a workplace injury but your employer’s insurance company is denying benefits. One of your co-workers suggests hiring a lawyer to help you get the workers compensation benefits you’re entitled to.

But wait a minute…can you afford workers comp lawyer fees? And are they really worth it?

Yes and yes!

Sound too good to be true? Read on to see how workers compensation lawyer fees actually work.

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Pros and cons of workers' compensation settlements
Pros and Cons of Workers Compensation Settlements

Naturally, the most ideal situation after a workplace injury would be for your employer’s insurance company to pay your workers comp benefits without making a fuss.

Unfortunately, this isn’t always the case.

Many insurance companies instead offer workers compensation settlements as an alternative to making regular payments until you have recovered from your injuries. But just as no two work injuries are alike, there is no single settlement amount that works for everyone.

Before you accept a settlement in your workers compensation claim, there are many factors to consider. In this article, we’ll cover the pros and cons of workers compensation settlements so you can make a more informed decision.

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How a Workers' Comp Settlement is Calculated
How a Workers Comp Settlement Is Calculated

How much are your injuries worth?

Your workers comp settlement isn’t “free money.” Here’s what to consider when deciding whether that settlement offer is worth it.

 

If you’ve been injured in a workplace accident, it’s very likely that your life has been turned upside down.

With your reduced work hours and medical bills piling up, that lump sum settlement offer is starting to look pretty good. But how did the insurance company arrive at that number?

It may seem arbitrary to you. But workers compensation insurance isn’t about reading tea leaves or consulting a crystal ball to determine your workers comp settlement amount. They are actually making a number of calculations behind the scenes to decide how much to offer you.

And unless you know what’s influencing their decision, you won’t be able to decide whether the offer is a fair one.

So let’s take a look at what your workers comp settlement should cover and how you can decide whether or not to accept it.

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Is Workers' Comp Taxable?
Is Workers Compensation Taxable?

Your workers comp benefits are designed to replace your income…

…but is workers comp taxable?

 

You already know that you have to pay taxes on most forms of income: salary, inheritance, lottery winnings, and even game show prizes. But where do your workers’ comp payments come in?

Workers’ compensation payments are designed to replace any wages you might have lost as a result of a workplace accident or illness, but these benefits are a significant reduction from your previous paycheck. Will you have to give Uncle Sam his cut and lose even more money?

In short, you want to know: “is workers compensation taxable income?” The short answer is ‘no’, workers compensation benefits are not taxable. But we need to explain it to you in depth because there are some exceptions. Read more

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We proudly provide statewide legal services for the handling of Florida workers’ compensation cases.

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The information contained in this website is provided for informational purposes only, and should not be construed as legal advice on any matter.  Using this site does not form an attorney/client relationship.

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