How Much Is My Workers' Compensation Case Really Worth? If you're involved in a workers' compensation case, you're probably expecting a lot out of your settlement and you're probably expecting to get it really soon. In section 440.015 of the Florida Statutes, it says that workers' compensation is meant to be "quick" and "efficient." But the process is often long, and you may find yourself wondering when you'll see some monetary gain. The one question you may be asking yourself is, "How much is my workers' comp case really worth?"
The reality is that there's no simple answer to that question. Nobody can guarantee you a certain amount of money. There are many factors and details that go behind the value of a case that could affect the amount you may settle on. But understanding those factors and details may provide you with an idea of what value it's heading toward.
First, you should understand what workers' compensation law is intended to do. It's intended to provide quick and efficient compensation for medical care and some lost wages when an employee is injured at work. But the way insurance companies see it, is that it is to provide the minimum medical care and a certain amount of lost wages. Basically, whatever is necessary. That's why the insurance company directs where you get your medical treatment from and which medical experts you will consult with.
Having somebody on your side, like an experienced workers' compensation attorney, may help you recover more for your claim. Some factors about you that an attorney will look at are your age, your education level, your personal injuries, the likelihood that you'll physically and psychologically recover, and the estimated cost of future medical care and treatment if your injuries continue. Also, a lawyer will want to be familiar with your salary and your work history.
There are individuals and entities other than you that a lawyer should be aware and familiar with. There's the insurance company, claims adjuster, any defense attorneys, compulsory medical examiners (CME), expert medical advisors (EMA), and Judges of Compensation Claims (JCCs).
If you really want to know the value of your workers' compensation settlement, then you may want to consider consulting with an experienced lawyer for workers' compensation. Your attorney should treat your case as if it's going to litigation. By preparing witnesses and taking depositions of doctors and all medical experts related to your case, an attorney should be able to help prepare you for the possibility of your case going to trial.
Also, an insurance company may attempt to approach you with a small settlement, hoping that you're desperate enough to accept it.