Five Signs Your Fort Lauderdale Workers’ Compensation Settlement Will Fall Short
You suffer on-the-job injuries in Fort Lauderdale, file for Florida workers’ compensation, and your employer’s insurer offers a lump sum settlement. Before making a decision, ask yourself one question: do you actually know what your claim is worth?
A workers’ comp settlement in Florida is permanent. Once you sign, the case is closed, and the money stops. Our experienced Fort Lauderdale workers’ compensation lawyer explains what a fair settlement actually needs to account for and the warning signs that an offer falls short.
What a Reasonable Fort Lauderdale Workers’ Compensation Settlement Should Cover
Under Section 440.20 of the Florida Statutes, lump sum workers’ compensation settlements in Fort Lauderdale must first be approved by a Judge of Compensation Claims. The approval process helps ensure the settlement is in the worker’s best interest, but the judge’s review is limited to what is presented.
Inadequate settlement offers are often still approved when workers lack legal representation to identify the gaps. To reflect the full value of your losses, here’s what an offer should include:
- The full projected cost of future medical treatment related to your injury, including any specialist visits, medications, physical therapy, or surgeries.
- Lost earning capacity if a workplace injury keeps you from returning to your job or advancing in any career.
- Your impairment rating and permanent impairment benefits under Florida’s statutory formula.
- Medicare Set-Aside requirements if you are Medicare-eligible or likely to become eligible within 30 months.
Most early settlement offers fail to account for the above, which could leave you facing high future out-of-pocket costs.
Warning Signs a Settlement Offer Benefits the Insurer More Than You
The Florida Division of Workers’ Compensation oversees the claims process, but insurers ultimately decide what to pay. Warning signs that a settlement offer may benefit them more than you include:
- You haven’t reached maximum medical improvement, meaning your future medical needs aren’t fully established.
- The settlement amount covers past medical bills and current lost wages but does not include any projection of future medical costs or lost earning capacity.
- The adjuster is pressuring you to settle, claiming that waiting will result in a lower number.
- The offer is presented as the insurer doing you a favor, rather than being based on actual projected costs.
- No one on your side has reviewed the offer, calculated what your claim is actually worth, or compared the number against what a judge could award in a contested proceeding.
A settlement that feels like relief today can feel very different two years from now. To get the maximum amount you need to recover, get professional legal help today.
Consult Our Experienced Fort Lauderdale Workers’ Compensation Lawyer
The Law Offices of David M. Benenfeld, P.A. has extensive experience representing injured workers throughout South Florida in workers’ compensation claims. Our experienced Fort Lauderdale workers’ compensation lawyer calculates what your claim is actually worth, negotiates with insurers, and helps you get the maximum settlement. To request a consultation at our Sunrise, Fort Lauderdale, or West Palm Beach office, call or contact us online today.
Sources:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0440/Sections/0440.20.html
cms.gov/medicare/coordination-benefits-recovery/workers-comp-set-aside-arrangements
myfloridacfo.com/division/wc