After an injury, you just want to get on with your life.
How long do workers comp settlements take and when will you get those funds?
According to the Bureau of Labor Statistics, employers reported 2.7 million injuries and illnesses in 2020. While some of these employees may have recovered quickly and had no issues, others had to fight for their workers’ comp benefits.
Pursuing a legal case against the workers’ comp insurance company is never a step that anyone wants to take, but it’s sometimes a necessity, especially if your case has been denied. You need funds to pay for medical bills, lost wages, and future healthcare expenses. So when your case finally comes to an end, you’re probably very anxious to know when you’re going to receive those funds.
What Are Workers’ Compensation Settlements?
Settlements are very different from workers’ compensation benefits.
When a workers’ comp attorney mentions “benefits,” they are referring to:
- Lost Wage Payments
- Medical Treatment
- Vocational Training
- Funeral Expenses & Death Benefits
Your work comp benefits are the compensation you receive up until the point you fully recover, reach Maximum Medical Improvement (MMI), or you have been collecting benefits for 260 weeks and the medical treatment provided and paid for by the insurance company.
A settlement, on the other hand, is a one-time payment that ends your workers’ comp claim once and for all. If you run out of money, you will not be able to collect more. In many cases, you will also have to resign from your current job.
How Long Do Workers Comp Settlements Take?
Whenever clients ask me, “How long do workers comp settlements take?” they are actually asking one of two different questions:
- How long will it take to reach a settlement with the insurance company?
- Once an agreement has been made, how long will it take to receive my check?
How Long Does It Take To Reach a Settlement?
Most workers’ comp cases settle anywhere from 6 to 18 months after the date of accident, but the process can take anywhere from a few weeks to a few years.
The speed with which your case is settled depends heavily on many factors, such as your injuries and where you’re at in the recovery process.
It takes time for the insurance company to sift through all the relevant information and make their first offer. And in our experience, insurance companies are not always willing to pay exactly what you ask without a struggle. Most of the time, clients find themselves engaged in negotiations for months before an agreement is reached.
How Long Does It Take To Get My Settlement Check?
After you reach an agreement, it can take anywhere from 4 to 8 weeks to receive your settlement check. However, things can (and do) happen to cause delays.
The reason for this is that formal settlement documents have to be drafted, reviewed, revised (if necessary), and signed by all parties. At that point, paperwork has to be filed with the Judge of Compensation Claims as required by law to obtain approval of the attorney’s fee, costs and child support allocation, if any, coming out of the total settlement amount.
Once you have reached this stage in your injury claim, your attorney should be able to give you an estimate of when you should receive your funds.
Getting the Compensation You Deserve
The best way to maximize your settlement amount is to work with a workers’ compensation attorney who can advise you at every step of the way.
Workers’ comp cases can be complicated, and there are a vast amount of resources and information that can only be accessed by a qualified lawyer. Whether your case is complex or straightforward, it’s important that you understand the many factors at play.
And without professional advice, how will you know if you are leaving money on the table?
Fortunately, you don’t have to go it alone. It’s crucial to get a lawyer on your side who is skilled at navigating the process. At the Law Office of Brian D. Tadros, we have been practicing workers’ compensation law throughout the State of Florida for more than 17 years and our office is located in the Central Florida area. Our extensive experience and knowledge of the Florida workers’ comp system makes us an invaluable resource in your case.
Contact us today to schedule your free consultation and find out how we can help win your case.