Each injured worker has their own unique story and situation. As a result, it is often difficult to know why certain workers choose to accept a workers compensation settlement, rather than keeping the lifetime medical benefits award.
There are a number of reasons that an injured worker may select to settle their claim, but four of the most common are highlighted here.
Peace of Mind
Many people who are considering a workers compensation settlement find it appealing because they don’t want to have to deal with the insurance adjuster, a private investigator, their workers comp doctor or a nurse case manager. Injured workers often get tired of feeling left in the dark and feeling frustrated. In many cases, they have to wait days or even weeks to find out why their wage check is late or have to wait to have their medical care approved. As a result, they feel that the system is running their life and want to get rid of that feeling.
Access to Better Medical care
In many cases, insurance adjusters take their time to approve medical care that patients need. As a result, this may lead to them backsliding in their recovery process. In most cases, a lifetime medical award doesn’t mean for life. In many cases, medical care can be denied or delays by an insurance adjuster even though you have received a lifetime medical award. As a result, you may opt for a settlement instead. Some of the reasons for this include:
- The insurer is no longer actively involved
- You are able to select your own doctor and want to make your own medical care decisions
- You don’t want to have to wait to receive medical care
Find out: Five Biggest Mistakes You Can Make After a Workplace Injury
Financial Freedom
In some ways, you can gain a bit of freedom by accepting a settlement. No one is going to get rich from the workers compensation settlement they receive; however, having a lump sum of money is often a better option for injured workers who may have had to suffer through with no income for a long period of time. In many cases, the lump sum settlement can reduce financial stress and provide financial freedom.
Avoid Living in Fear
Some people who are receiving an ongoing benefit check may be fearful that it is eventually going to end. This can cause additional stress in an already stressful situation. With a settlement, this fear is eradicated and the person can get on with their life.
There is no question that workers compensation cases are often difficult and confusion. If you are unsure if accepting a settlement is the right option, it is best to hire an expert West Palm Beach workers compensation attorney. Contact Scott J. Sternberg & Associations, P.A. for help and information.