What is a Settlement in Workers’ Compensation?
A settlement usually refers to a written agreement between the employee and the employer and insurer. It normally asks the employee to give up future payments of wage loss, permanency, vocational assistance for “up front monies” in the form of a lump sum. This settlement agreement does not become effective or binding on the parties until the Judge issues an Award on Stipulation. You are not required to give up future medical benefits in a Settlement. In addition, there are different types of Settlement Agreements depending on the facts of your case. In order for your rights to be protected and ensure that you get the best outcome, contact our law office for a consultation.