Norden Leacox Accident & Injury Law | March 4, 2025 | Workers’ Compensation
The average workers’ compensation claimant settles for medical expenses, a weekly wage replacement, and sometimes vocational rehabilitation. Sometimes, especially in cases of long-term disability, workers’ compensation will offer a one-time lump sum payment instead.
In exchange for this payment, the worker must relinquish all future claims arising out of their accident or illness. If you receive such an offer, think twice–it could be a good idea or it could be a disaster in the making. The sooner the offer comes after your accident, the more likely it is to be inadequate. A workers’ compensation lawyer might be able to help you negotiate a better deal.
Be Careful: Insurance Is a Business, Not a Charity
Although workers’ compensation is based on state law, its incentives work a lot like those of a profit-seeking private insurance company. In other words, it prioritizes saving money over your well-being.
Every dime they pay you is a dime less they get to keep, so don’t expect an initial lump sum offer to be particularly fair. If it seems generous, you’re probably missing something big. And that is all the more reason you need to talk to a lawyer.
Maximum Medical Improvement (and Why It Matters)
Maximum medical improvement (MMI) is the point at which your doctor declares that your medical condition has improved as much as it ever will. If your health is completely restored, that’s great. If you’re still having trouble walking, then you probably have a permanent disability that could affect your future earning capacity.
MMI matters because only once you reach it will you have a rough idea of how much your workers’ compensation claim is worth. You can’t bargain effectively without knowing how much your claim is worth.
The Consequences of Hiring a Lawyer for a Florida Workers’ Compensation Claim
Florida’s workers’ compensation rules are surprising in one respect. In Florida, if you’re going it alone without a lawyer, you’re only eligible to seek a lump sum settlement if you meet one of the following criteria:
- The insurer has denied your claim no later than 120 days after your injury report; or
- You have reached MMI.
The purpose of this rule is to prevent workers’ compensation from taking advantage of you.
A judge must approve your settlement, and they might even deny or reduce your settlement if they deem it to be excessive.
If you hire a workers’ compensation lawyer, these restrictions will no longer apply. Your attorney will be free to negotiate a settlement without the foregoing restrictions, although a judge’s approval will still be necessary. Nevertheless, your lawyer will have to petition for approval of their legal fees.
Calculating the Value of Your Claim Settlement
It makes no sense to accept a settlement until you have a good idea of how much your claim is worth. Here are some of the factors to consider:
- Past and present lost earnings
- Future diminished earning capacity
- Rehabilitation expenses, including vocational rehabilitation
- Future medical treatment
- Unpaid benefits
- Tax implications of a lump sum payment
These are not the only factors that matter–there are others as well. Among those listed above, future diminished earning capacity and tax implications are probably the most important if you have a large claim. In particular, you might need the help of an expert to calculate future diminished earning capacity.
Enforcing Your Rights
If you decide to negotiate a lump sum payment with workers’ compensation, you’ll be dealing with a claims adjuster–in other words, a professional negotiator. That’s okay if you have hired a competent workers’ compensation lawyer because they, too, are professional negotiators. Your best bet is to let your lawyer do the negotiating from beginning to end.
Don’t Accept a Workers’ Comp Settlement Without Talking to Your Lawyer First
If you’ve been offered a workers’ compensation settlement, it’s best to receive legal advice before deciding whether to accept it. The settlement might add up to much less than what you are entitled to under the law. Reach out to an experienced workers’ comp attorney today for a free consultation, at which time you can receive initial legal advice about what you should do at no cost.
Contact a Workers’ Compensation lawyer at Norden Leacox Accident & Injury Law Today
For more information, please contact Norden Leacox Accident & Injury Law to schedule a free consultation. We have five convenient locations in Florida, including Orlando, Palm Bay, Melbourne, Cocoa, and Titusville.
Norden Leacox Accident & Injury Law – Orlando, FL Office
633 E Colonial Dr
Orlando, FL 32803
Phone: (407) 801-3000
Hours: Open 24/7
Our firm is located near you. We have an office in Orlando, FL.
Find us with our GeoCoordinates: 28.5534238,-81.3692001
Norden Leacox Accident & Injury Law – Palm Bay, FL Office
4620 Lipscomb Street N.E Suite #3K
Palm Bay, FL 32905
Phone: (321) 677-5964
Hours: Open 24/7
Our firm is located near you. We have an office in Palm Bay, FL.
Find us with our GeoCoordinates: 28.039083,-80.6083109
Norden Leacox Accident & Injury Law – Melbourne, FL Office
1600 W Eau Gallie Blvd #205j
Melbourne, FL 32935
Phone: (321) 450-7134
Hours: Open 24/7
Our firm is located near you. We have an office in Melbourne, FL.
Find us with our GeoCoordinates: 28.1289147,-80.6461588
Norden Leacox Accident & Injury Law – Cocoa, FL Office
717 S Cocoa Blvd STE 203
Cocoa, FL 32922
(321) 449-8042
Hours: Open 24/7
Our firm is located near you. We have an office in Cocoa, FL.
Find us with our GeoCoordinates: 28.3511613,-80.7312948
Norden Leacox Accident & Injury Law – Titusville, FL Office
4527 S Hopkins Ave Suite B
Titusville, FL 32780
Phone: (407) 801-3000
Hours: Open 24/7
Our firm is located near you. We have an office in Titusville, FL.
Find us with our GeoCoordinates:28.5584923,-80.8010051
