Although we expect to be safe on the job, there is always the risk that an accident will occur. In 2020, there were 3.2 million workplace injuries and illnesses in the US. These injuries can cause you to miss work, lose your paycheck, and cause medical bills.
Since you never know when an accident might occur, businesses must carry workers’ comp insurance in many states. Workers’ comp insurance provides benefits to employees hurt on the job.
Workers can take advantage of their employer’s policy by seeking settlements. But, when will workers’ comp offer a settlement? Read on to learn about workers’ compensation and if you are eligible for compensation.
What Does Workers’ Comp Cover?
Workers’ compensation covers injuries and illnesses that occur while at work. These can include slips and falls, sprains, and illnesses caused by chemicals you work with.
If you successfully file a workers’ comp claim, the insurance will cover necessary medical bills and at least partial payment for lost wages. The exact benefits you are entitled to depend on the severity of your accident, your employer’s insurance policy, and your state’s laws.
But there are some injuries that workers’ comp insurance won’t cover. These include self-inflicted injuries, injuries caused by the individual’s negligence, and injuries caused by fighting or roughhousing. If an injury occurs while an employee is committing a crime, violating company policy, or under the influence of drugs or alcohol, they won’t be eligible for benefits.
How to File a Workers’ Comp insurance Claim
When injured at work, first be sure to get the medical attention you need. You will also want documentation of the accident scene immediately after the accident. With this report and documentation, your employer will file a claim with the workers’ comp provider.
You need to report your injury to your employer as soon as possible. Many states have a statute of limitations for claims ranging from 72 hours to two years. Most claims have to be filed within 30 days.
How Long Does it Take to Get Approved or Denied?
Once filed, the workers’ comp company will approve or deny the claim, which can take anywhere from days to years. It depends on how long it takes the insurance company to investigate your claim. If denied benefits, you can seek an appeal that often requires litigation and draws out the process.
Workers’ Compensation Settlements
For a workers’ comp claim to be closed, an employee must return to work and receive compensation. A claim often concludes with a settlement offer from the insurance company, which the employee can accept or seek further compensation.
These negotiations often require you to hire a workers’ compensation lawyer to help you get the most compensation. Negotiations can turn into court hearings which can diminish your settlement. So you must decide at what point is it too costly to seek further compensation.
Once parties come to an agreement, employees receive compensation in a lump sum or structured payments
When Will Workers’ Comp Offer a Settlement
If you are injured on the job, you might be asking yourself when will workers’ comp offer a settlement to determine if a claim is worth pursuing. If workers’ comp covers your injury it is worth seeking a settlement to receive compensation for medical bills and partial lost wages. These settlements can take time, and hiring a workers’ comp lawyer can help you negotiate for the best outcome.
Do you have more questions about workers’ compensation settlements? Check out our website for more guides like this one.