Lump Sum Settlements in Port St. Lucie

As a coastal town with a rapidly expanding population, Port St. Lucie is a popular place to live and a common tourist destination. It features a number of golf courses and water-related recreational activities, and it is home to a Major League Baseball training camp. The diversity of these features leads to an equally diverse array of occupations. Some of the most common jobs held by Port St. Lucie residents include sales, office administration, and restaurant services. One of the most confusing aspects of experiencing a work-related injury is knowing whether you are entitled to workers’ compensation benefits. Work injuries can happen in a wide variety of situations and are not limited to highly physical and often dangerous occupations like construction work. At Donaldson & Weston, our Port St. Lucie workers’ compensation attorneys have provided diligent legal counsel to workers who have suffered a wide array of injuries. We are standing by and ready to help you seek the financial compensation that you need.

Deciding Whether to Accept a Lump Sum Settlement of Your Claim

If you think that you have suffered an injury associated with your job duties, it is critical that you inform your employer as soon as possible so that it can obtain emergency medical treatment for you. If it is not an emergency situation, such as a car accident on the job, it is still important to let your employer know that you have developed a condition that resulted from your job duties, like carpal tunnel syndrome or a back injury. Your employer will then open a claim with its insurance carrier to determine whether you are eligible for workers’ compensation benefits.

This process usually begins with a medical examination provided by an approved health care professional. During the medical examination, it is important for you to be honest about your condition and explain all of your symptoms to the doctor. The medical professional will use this examination to determine whether your injury is temporary or permanent and whether it is partial or total. The results of this assessment will then be used to determine the amount of weekly benefit payments that you are entitled to receive to compensate you for your lost wages. Determining the nature and scope of your injury can be difficult in some situations, especially when the injury involves the aggravation of a pre-existing condition. A workers’ compensation lawyer can help you ensure that you receive the maximum amount of weekly benefits that you deserve.

Although many injured workers opt to receive weekly benefit payments and reimbursement for medical expenses as they are incurred, Florida’s workers’ compensation laws also allow injured workers to apply for a lump sum settlement of their claim. In exchange for the lump sum payout, your employer is absolved of any further financial liability for your lost wages and medical expenses.

An employer cannot force an employee to receive a lump sum settlement. Instead, it is at the sole discretion of the employee. There are certain factors that are used to calculate the amount of the settlement. First, the adjuster will determine the estimated value of your claim, especially when you have suffered serious injuries and incurred large medical costs. Next, the adjuster will consider your age, overall health, work experience, and educational background, as well as the amount of wages that you earn on a weekly basis. Finally, the adjuster will consider whether the employee will continue to incur medical expenses associated with the injury in the future. Deciding whether you should opt for a lump sum settlement is a major decision, especially if you are facing a permanent and total disability. It may be difficult to determine which medical costs you will incur in the future or to know whether your injury may worsen.