According to the Louisiana Laws Revised Statutes (LA Rev Stat) §23:1271, you may be able to get a settlement from workers’ compensation if you go back to work. A settlement may resolve your case and may be negotiated as a lump sum or as a payout over time. After you agree to a settlement, your employer and their insurance company may be released from their obligation to pay you for that specific injury or illness.
This statute explains that a settlement must come no sooner than six months from the final date you receive benefits for temporary total disability (TTD). However, you and your employer or their insurance company may choose to waive this waiting period. At this point, your lawyer may negotiate a settlement figure that both parties agree on.
The Possible Benefits of a Workers’ Compensation Settlement
If you get injured or become ill from work-related circumstances, you may soon find out what it is like to deal with the workers’ compensation process and the entities that oversee applicants’ approval for these benefits. This process can be complex and tedious. You may agree to a workers’ compensation settlement so that you do not have to deal with the workers’ compensation process on an ongoing basis.
Some benefits of reaching a workers’ compensation settlement may include:
- Receiving a lump sum to pay your outstanding expenses rather than continuing to receive benefits on a weekly or otherwise structured basis
- No longer needing to dedicate time and resources to the process of obtaining workers’ compensation
- No longer being subjected to examinations and other legal processes to continue collecting workers’ compensation
However, a settlement may not be appropriate for everyone. Your employer or their insurance company may not offer a settlement. Even if they do, their terms may not be acceptable to you or your lawyer. It may also make sense for you to wait to negotiate a settlement for various reasons.
In any case, you should not take the prospect of agreeing to a workers’ compensation settlement lightly. Though you may be able to get a settlement from workers’ compensation if you go back to work, doing so may not be in your legal interest. Hiring a lawyer to advise you on matters related to workers’ compensation may prevent you from taking any steps that may not serve your interests.
Your Lawyer Can Defend Your Interests
Workers’ compensation claims can be complex. A lawyer may help you communicate your interests to your employer and their insurance company. Keep in mind that your employer and their insurer may have vastly different goals than you do. Still, your lawyer may serve as your advocate while you pursue compensation.
Your lawyer may help you with your claim after you contact their team, so you may want to speak with a law firm representative about your case as soon as possible. They may be able to advise you on:
- How to report your injury or illness through appropriate channels
- How to document your injury or illness
- How to file your claim
- How to receive specific designations for your injury, such as permanent total disability (PTD) or temporary partial disability (TPD)
As the workers’ compensation process moves forward, your lawyer may advise you on the prospect of negotiating a settlement, and whether doing so may be in your interest. They may discuss with you settlement-related considerations, which may include:
- How much compensation you should demand in settlement negotiations
- Whether your employer or insurance company may have reason to agree to a settlement
- Whether you may want to negotiate a settlement before or after undergoing assessments, such as a functional capacity evaluation (FCE)
- Whether the best settlement offer you receive is suitable, considering your injury- or illness-related losses
The Louisiana Workforce Commission (LWC) explains that you may be entitled to two-thirds of your average weekly wages as workers’ compensation, including coverage for medical costs to treat your injury or illness.
Call Our Law Firm to Help You with Your Case
Negotiating a settlement for a workers’ compensation claim requires careful consideration. You may hire a lawyer to help you negotiate a workers’ compensation settlement or fulfill other stages of a workers’ compensation claim. Call Laborde Earles Injury Lawyers today at (337) 777-7777 for a free consultation.