If you are injured or become ill while performing your job duties, you may be entitled to receive benefits under Missouri’s workers’ compensation program. This will help relieve any financial burden you face from medical expenses and lost wages. These benefits are typically paid out weekly, but at some point, the insurance company may offer you a settlement instead. While receiving a lump sum payment may be tempting, before you accept, it’s important to understand what this will mean for your case moving forward.

How Do Workers’ Compensation Settlements Work in Missouri?

The Settlement Process 

In most cases, an injured employee and their employer or the insurance company will reach a settlement agreement on their own. However, if an offer cannot be agreed upon, the parties involved may go through Missouri’s dispute resolution process. A settlement hearing will then be held so a judge at the Missouri Workers’ Compensation Commission can review the terms of the offer and decide whether to approve it.

State law requires all settlements to be approved unless the agreement is deemed fraudulent or considered to be made under undue influence; the employee has not voluntarily agreed; the employee isn’t aware of their rights; or the settlement violates the rights of either party. If approved, a full and final settlement check will be issued, which means the employee gives up all future workers’ compensation benefits in relation to the same injury. 

Calculating the Value of Your Claim 

The amount of money you’re entitled to in a settlement will depend on several different factors, including the nature and severity of your injuries, your ability to return to work and at what level, and the income you were earning before becoming injured. An offer is likely to be tailored around whether you have a temporary or permanent disability rating and if you will require extensive medical care in the future. The higher your rating and the more treatment you will need, the larger your settlement should be.

Before you accept any workers’ compensation settlement, it’s in your best interest to consult an attorney. The legal team at Henry & Williams P.C. will fight hard to make sure you receive fair compensation for your job-related injuries. They have been advocating on behalf of injured employees in West Plains, MO for more than six decades and understand how to effectively negotiate for maximum benefits. Call (417) 256-8133 to schedule a review of your case or visit them online to learn more about their extensive background in law.