Often, injuries can become unavoidable if working in an unsafe work environment. Irrespective of the severity of the injuries, it would be in a worker’s best interests to ensure appropriate medical support and leave from work. Not taking enough time to recover from an injury can increase the chances of suffering and other illnesses.
Besides taking care of injuries, a worker should contact a Virginia injured at work lawyer for legal guidance and assistance while claiming compensation. There are chances that an employee might become confused about obtaining compensation in the form of a one-time or a structured payment system. It would be beneficial for a worker to know the merits and demerits of both terms and choose one accordingly.
Obtaining lump sum compensation for workplace injuries:
Before you decide on a compensation payment form, you should familiarize yourself with each term and proceed further. A worker will likely receive a single charge when obtaining a lump sum compensation. The amount would consist of all the money which would be receivable once. A one-time payment will fulfill the obligation of compensation from the employer’s side.
- Pros
When you decide to go with lump sum compensation, you can spend the amount of payment however and whenever you want to. A worker might be able to meet the immediate and unexpected financial needs after being injured at work. Lastly, lump sum payments usually occur in the form of extensive checks. The worker can manage their investments after receiving more oversized cheques from compensation.
- Cons
The primary disadvantage of obtaining a lump sum amount is that you would not be able to receive compensation again if it gets lost. There will be no second chances as the payment will be made once and for all. The investment front will be affected with a lump sum if not appropriately managed. Also, it will be likely that a worker will be pressured into giving all the money away to various entities like medics.
Seeking structured settlement for work-related injuries:
A structured payment will take place over an extended period. Structured settlements can be recurring in nature. You should also know that the structured compensation will involve a schedule of payments free of income tax in installments.
- Pros
Workers will be guaranteed to receive the money for covering their expenses for a more extended period. Structured payment also takes care of long-term medical needs and protects workers from bad investments. As a result, one would not feel pressured to spend the money at once when opting for structured payouts.
Generally, a worker will likely need an independent medical examination if the insurance company disagrees. The insurance company might question the decision of medical treatment by the doctor if the doctor recommends surgery, expensive medical procedures, or permanent disability.
In some cases of compensation, the hearing officer or the judge might order an IME to resolve a dispute in the issue. Once ordered, the worker will be asked to undergo a medical evaluation by a doctor who will act neutral. An IME can significantly impact the outcome of workers’ compensation.
The answer to hiring a lawyer for compensation might not be definite. Each case of workers’ compensation has different scenarios, indicating the need for a lawyer. There are certain instances where a lawyer would be necessary.
- Cons
The significant disadvantage of structured payouts is that a worker cannot access most of the compensation amount at once. Unexpected bills and expenses cannot be paid with structured payouts. The worker can contact an attorney in Virginia if they need legal advice about the matter.
