Workers’ compensation is meant to provide you with financial help as you heal from an accident you suffered at work. However, even though you can begin collecting benefits for lost wages as soon as you file your claim, you won’t get your complete compensation until your settlement is accepted.
When workers’ compensation offers a payout depends on a number of circumstances. Furthermore, the uncertainty may increase stress, which hampers recovery. So, here’s what to expect after filing a workers’ compensation claim to help you manage your money wisely during an otherwise difficult period.
What Is the Duration of Workers’ Compensation?
In the most exceptional and uncomplicated cases, a workers’ compensation claim might be settled in a matter of weeks. However, fewer than 20% of cases are settled in the first half of a year. In actuality, it takes 12 to 18 months to finish most claims.
You can anticipate a settlement in 12 to 14 months if your injury does not cause permanent impairment and you accept the insurance company’s first offer without seeking legal counsel. But doing so frequently means losing out on a sizable sum of money to which you are legally entitled.
However, you may need to wait an additional 20% or more for your settlement if you hire legal counsel. Though it may seem unfavourable, the extra time could mean a substantially larger payoff.
Here’s How You Can File a Comp Report
1. NOTIFY YOUR EMPLOYER OF THE INJURY
Notifying your employer of an injury sustained at work is the first thing you should do. If your sickness develops gradually, notify it as soon as you start experiencing symptoms.
2. ACQUIRE MEDICAL SUPPORT
You should visit the emergency room if the issue qualifies as an emergency. For a diagnosis and course of treatment, see a physician as soon as possible if the damage is not too serious. An official medical report might support your workers’ compensation claim.
3. ASK YOUR EMPLOYER FOR THE PAPERWORK YOU NEED
Following your report of injury to your employer, you can receive information on workers’ compensation benefits and how to resume work, as well as reporting documents to file with the state workers’ compensation board.
4. FILE YOUR CLAIM
Usually, your employer is in charge of filing your claims with the workers’ compensation insurance provider and the state workers’ compensation board. Your medical report might also need to be mailed by your doctor.
Read more: Filing a Winning TPD Claim in 7 Simple Steps
5. YOUR CLAIM IS APPROVED OR DENIED
The insurance company will either approve or reject your claim when you submit it. Upon approval, you will get payment details from the insurance insurer. Nonetheless, the insurance company will reject the claim if they don’t think it qualifies for workers’ compensation benefits.
6. HIRE AN EXPERIENCED ATTORNEY
An expert workers’ compensation lawyer can guide you through the process of appealing the judgment if your claim is rejected. You might want to work with a lawyer who can assist you in negotiating a lump sum settlement even if your claim is accepted. Additionally, to make sure you have legal support throughout the entire process, you might wish to retain legal counsel before submitting your claim.
7. YOU RETURN TO WORK
Lastly, when you feel well enough to resume work, send a formal notice to both your insurance provider and employer. The extent of your injuries will determine whether or not the insurance company continues to provide disability payments.
What Factors Impact the amount of Time Needed to Discuss and Reach a Settlement for Workers’ Compensation Claims?
The amount of time it takes for you and your workers’ compensation lawyer to achieve a settlement could vary depending on a number of circumstances. You can better determine how long your claim will be by considering the following factors:
The time it takes for your case to be resolved may depend on the financial and non-financial losses you have incurred as a result of your workplace injury. The following losses and difficulties may require calculations and proper compensation claims, which could prolong the time it takes to resolve your case:
• All associated costs for medical care, such as prescription drugs, doctor visits, hospital stays, and ambulance journeys
• Any further medical expenses, such as those for physical therapy, surgery, or prescription drugs
• Wage losses and adjustments for future pay
• Whether or not your injuries have left you disabled
Insurance Companies Could Put Off Answering You in an Effort to Block Your Claim
The length of time it takes to discuss and settle a workers’ compensation claim can also be influenced by how quickly your employer and the insurance company respond. Insurance companies may take a while to respond to your questions or send you an offer. This is a strategy used by insurers to persuade you to accept a lower-value claim and resolve the matter more quickly.
Additionally, if you are still receiving medical attention for your injuries, negotiating may take longer. Before agreeing on a reasonable settlement, your attorney may wait for a doctor to evaluate your maximum medical improvement in order to make sure that any future medical expenses are taken into consideration.
The workers’ compensation process can be difficult and time-consuming to navigate, but you can handle the situation more skillfully if you know what steps to take and are ready for any delays. Speaking with a knowledgeable lawyer will help you have a better chance of getting all the money you are due. You can more effectively safeguard your financial security and concentrate on your rehabilitation by making the appropriate decisions early on.
United Legal Canberra helps individuals in maximising their settlement outcomes and guides them through the entire process. For more details get in touch at (02) 6295 2283 or email us at admin@unitedlegal.com.au and make an appointment it only takes a few minutes.
