Below is a list of things that should be considered by an injured worker before their PA Workers’ Compensation Compromise and Release (Settlement):
- The Value of Future Medical Coverage for your Work Injury: Do you really know what treatment for your work injury is going to cost?
- Future Medical Coverage for your Work Injury: Are you are giving up your medical coverage because your spouse has good medical coverage? What if your spouse loses his/her job?
- Social Security Disability: Is there language in the Compromise and Release agreement that protects SSD by prorating the lump sum over your expected lifetime?
- Medicare: If Medicare has paid for PA Workers’ Compensation related medical bills, they may want that money back. If you are settling your Workers’ Compensation medical coverage, you may need Medicare’s permission through an approved Medicare Set Aside. If you don’t get one; in certain circumstances, Medicare can come after you.
- Welfare Lien: If Public Assistance (Pennsylvania Department of Human Services) has paid cash assistance and/or medical expenses; they are entitled to that money back although the amount of the repayment can be negotiated.
- Child Support: If you owe Child Support; it comes off the top of any Workers’ Compensation settlement.
- Third Party Subrogation: If you sue a third party (not your employer or co-employee); the Workers’ Compensation Insurance carrier is entitled to money back although that subrogation interest can be waived if negotiated before the Workers’ Compensation case is settled.
- Bridge Loans: if you borrowed money against your Workers’ Compensation case; that Lender is going to be entitled to money back.
- Future Workers’ Compensation Medical Bills: If your Compromise and Release Agreement (Settlement) leaves medical open for payment of bill reasonable and necessary related to your work injury will your attorney agree to help you get those paid? For free?
- Annuities: If your WC settlement is being paid over a period of years, what happens if the annuity company goes bankrupt and refuses to pay?
- Are You Getting the Correct Legal Advice from Your Lawyer? How do you know? Have you even discussed settlement/your case with and attorney?
An ethical and experienced PA Workers’ Compensation attorney can help walk you through the Compromise and Release (Settlement) agreement process, and make sure that you receive the best possible settlement, if settlement is in your best interest.
If you are or may be receiving Social Security Disability benefits, it is very important to understand how these benefits interact with workers’ comp wage loss benefits and how to potentially maximize both.
The law firm of Calhoon and Kaminsky P.C., represents injured workers throughout Pennsylvania. If you have questions about your PA Workers’ Compensation Compromise and Release (Settlement) call and speak to an attorney for FREE, 717-695-4722.