Workers’ compensation is a form of protection for employees. It is designed to provide you with compensation in the event you are injured at work.
The type of compensation you receive from workers’ compensation depends on your state. All states have their rules and regulations for compensation, but there are several types of compensation that are usually the same regardless of where you live.
Common Compensation in a Workers’ Compensation Case
Workers’ compensation focuses on weekly benefits, which are paid to you for any workplace injury or illness that is severe enough to qualify, and keeps you from returning to work. While benefits may vary, here are some benefits you are likely to receive:
- Temporary Total Disability – This covers your time-loss compensation. You can receive regular loss of compensation when you are unable to work, but the amount you receive depends on the percentage allowed by the state. Some states allow up to 80 percent, while most states use the 66-2/3 percent rule.
- Loss of Earning Power or Capacity – Loss of earning power benefits do not apply for all states. If your state allows this you will earn the benefit based on when you can return to work. If you must return to work and take a lower paying job because your job at the time of the injury is no longer available, you can be compensated to make up the difference.
- Medical Costs – The most common form of workers’ compensation is for medical expenses. You should receive all medical payments in full by the workers’ compensation insurance company. The bills for treatment are covered and you should not pay out of pocket for any treatments. These treatments must, however, be part of the acceptable standard required to recover from your workplace injury.
- Total and Permanent Disability – If you are no longer able to return to work or fully return to work, you may qualify for permanent disability. You may begin with workers’ compensation but at some point move over to a pension if you have one. Then you will receive a pension and regular benefits, which are a percentage of your wages at the time of the accident. Pension benefits will be less than the amount you receive while your workers’ compensation claim is open.
Structured Settlement versus Weekly Permanent Disability Payments
In some cases, you could receive regular weekly disability benefits. This only occurs if you do not agree to the lump sum amount. Your payment then is based on the percentage of disability you have and your wages before the injury.
The structured settlement means you receive a continuous payment, but coming from one large payment amount. Rather than providing you with the lump sum, you receive structured payments over a set number of years.
Injured? Speak with an Attorney
If you or a loved one was injured on the job, it is in your best interest to speak with an attorney. Speak with an attorney from Koonz, McKenney, Johnson, DePaolis & Lightfoot, LLP today by calling one of our three locations. You can also request your free case evaluation online.