According to the New York State Workers’ Compensation Board, nearly every employer in New York must purchase workers’ compensation insurance. If you’re an employee and you’ve sustained a work-related injury in New York, you can file a workers’ comp claim.
When will workers’ comp offer a settlement? There’s no absolute answer to this question. Various factors can affect the timeline.
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At Fusco, Brandenstein & Rada, P.C., our Woodbury, NY, workers’ compensation attorneys may help you pursue the benefits you deserve.
What Is a Worker’s Comp Settlement?
To receive workers’ comp benefits, an injured worker doesn’t need to prove their injury resulted from negligence. They only need to show they’ve sustained an injury while performing their job or developed a medical condition as a result of their work.
A workers’ comp settlement is the total money an insurance company offers an injured worker as completion of their claim in exchange for a release from any further liability for the injury and related expenses.
What Will a Workers’ Comp Settlement Cover?
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Workers’ comp benefits in New York include the following:
- Reasonable and necessary medical expenses (present and future)
- Lost wages (present and future)
- Survivor benefits
It’s possible a workers’ comp offer won’t fairly compensate you for all your losses. Your attorney should review any settlement offer before you accept it.
When Can You Expect a Workers’ Compensation Settlement?
Answering “When will workers’ comp offer a settlement?” is difficult without knowing more about the details of your case. However, you will not likely receive an offer until your medical treatment is complete.
Various factors can influence the timeline, including:
- How complete your claim is. Including all relevant information and submitting thorough medical evidence is vital when filing a workers’ comp claim. Workers’ comp insurers often refuse to pay out claims that are missing information or when medical evidence is insufficient.
- The complexity of your case. Adding up your losses to determine how much compensation you’re eligible to receive can be a complex process. For example, maybe your injuries leave you in need of ongoing medical care. Estimating the potential cost of future treatment is just one example of a complicated task that resolving your case may involve. Such complexities can influence how long it may take to receive a settlement offer.
- Negotiations. Workers’ comp insurers are for-profit companies. The adjuster who handles your workers’ compensation case has an incentive to offer less compensation than the full amount you’re eligible to receive. Your lawyer can enter into negotiations to fight for the benefits you deserve.
- Denials. A workers’ comp insurer might deny your claim for various reasons. For instance, they may argue your condition isn’t work-related. The New York State Workers’ Compensation Board allows you to file an appeal if this happens.
The negotiation process can result in short-term delays. However, in the long run, negotiating for a fair payout is typically better than accepting a lowball offer.
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You don’t have to negotiate with a workers’ comp insurer alone. A New York workers’ compensation lawyer can handle negotiations on your behalf. They can gather the evidence necessary to show you’re eligible to receive benefits. If you need to file an appeal, New York workers’ compensation attorneys can handle this task as well.
What Is the Average Workers’ Compensation Settlement Amount?
Because of all the diverse factors involved in each workers’ comp claim, there is no “average” settlement. The severity of your injuries and the cost of medical treatment are the most significant factors. According to the National Safety Council, the average cost of claims resulting from amputation injuries in 2020 and 2021 was $126,033. For injuries like crushing injuries, fractures, and dislocations, the average cost of a workers’ comp claim was $62,240.
Those numbers represent some of the highest-paying types of claims. You may receive less depending on the nature of your injuries.
Get Help From New York Workers’ Compensation Attorneys
No one can promise you will receive a specific amount of money when an insurance company pays your workers’ compensation claim. Nor can they promise that an insurance company will make an offer within a specific timeframe.
However, pursuing the workers’ comp benefits you may deserve is easier with legal representation. You can also devote more energy to focusing on your recovery when a lawyer handles your case. Learn more about what our Woodbury, NY, workers’ compensation lawyers at Fusco, Brandenstein & Rada, P.C. can do for you by contacting us online or calling us at 516-496-0400 for a free case review.
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