The three most important things to remember about a workers’ compensation settlement are:
- Settlements are voluntary. No one can force you to settle your case for an amount you don’t agree with.
- Most settlements will stop the payment of compensation and medical payments in exchange for a lump sum of money.
- In Ohio, if the employer is not self-insured and the claim is older than five years, it is not necessary to have an agreement from the employer to settle. In those cases, the injured worker can settle directly with the BWC and the employer cannot stop the settlement.
Many injured workers call me and want to know how long it takes to settle a case and how much their case is worth.
The value of a workers’ compensation case depends on how serious the injury was and how much compensation and medical bills were already paid. A settlement is based on how much compensation will be paid in the future, not how much has already been paid.
A serious injury involving surgery or other significant treatment will be worth more than an injury with sprains and strains of muscles.
This leads to the big question: How long will it take?
On average, once medical treatment has ended, a settlement can be reached in as little as two or three months so long as the parties can agree on an amount.
An attorney can evaluate your case at no cost to you. The attorney must review the medical records and reports to form an intelligent opinion on any case.
If you are not receiving ongoing medical treatment or compensation, waiting to settle your case may lead to a smaller settlement. Therefore, it is important to contact an attorney as soon as possible to discuss a settlement.