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Opting for a lump sum workers’ compensation payment

Workplace injuries affect many employees across Ohio. Whether you work in a factory, on an assembly line, lift heavy materials or injure yourself in an office environment, you have the opportunity to receive damages from your employer’s workers’ compensation insurance.

Some employees choose to receive a lump sum payment after the Bureau of Workers’ Compensation approves their claim. This lump sum will add your expenses from when you initially received your injury, but it will also include all quantified future expenses you may face due to the injury’s effects.

Receiving a lump sum

According to Ohio law, those that wish to receive lump sum amount for their medical expenses, loss of work and future losses due to their workplace injuries must accurately quantify a settlement amount based on their required compensation. You should consider:

  1. All expenses you have and will face due to your injuries. Perhaps your injury stopped you from working your current position, and your injury affects your ability to find a high-paying job.
  2. How a settlement will affect your benefits. After your injury, you may also have applied for Social Security benefits if you could not work. When you receive income in a lump sum in a workers’ compensation claim, your SS benefits may significantly decrease.
  3. How you will allocate money specifically to your medical expenses. Receiving a large amount of money in one check may leave individuals overwhelmed. Creating a plan for determining exactly an amount to use for medical treatment is wise.

Your need for an attorney

The most important decision to make when hoping to receive a lump sum payment for your workers’ compensation past and future expenses is accurate legal representation. Workers’ compensation attorneys understand what amount will leave you substantially reimbursed for your injuries and give you peace of mind in knowing that your lump sum will sustain you for your lifetime’s injury expenses.

Without legal knowledge, you may have difficulty determining what settlement to take or how much money you will require due to your future expenses. An attorney can help represent you during your claim and ensure you receive a maximum lump sum amount.

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Castrodale Law, LLC
20 S. Limestone St., Suite 230
Springfield, OH 45502

Phone: 937-323-9783
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