When is a Workers Compensation claim considered settled and permanently closed?
A. Once you have file all of the documentation required to protect your claim, see Question 3, no one can force you to give up your rights to workers’ compensation benefits without a final hearing on your claim. However, you must request a final hearing or settle your case within five (5) years of the date of accident. There are three ways to finalize your workers’ compensation claim. LUMP SUM SETTLEMENTS: If everyone agrees that it is in your best interest, you can settle your case with a single lump sum payment, rather than leaving your rights open into the future. The amount of a lump sum disability settlement is based upon formulas contained in the Workers’ Compensation Act and negotiations between your attorney and the insurance company. In general, the lump some should consider the high and low impairment ratings and the potential cost of future medical treatment. AGREED AWARDS: The insurance company cannot force you to give up your right to medical treatment or other rights unde
A. A Workers’ Compensation claim is considered settled only after “Lump Sum” settlement contracts are prepared and signed by the appropriate parties and approved by the Illinois Industrial Commission. After the above process is concluded, the worker’s claim is closed and they are no longer entitled to Workers’ Compensation benefits for their injuries. In the event of a subsequent accident, the worker would need to file a new claim for Workers’ Compensation benefits. NOTE: If an injured worker has received various Workers’ Compensation benefits from his employer but never signed Lump Sum Settlement contracts, he may still have a viable Workers’ Compensation claim if the Statute of Limitations has not expired.
A. A Workers’ Compensation claim is considered settled only after “Lump Sum” settlement contracts are prepared and signed by the appropriate parties and approved by the Illinois Industrial Commission. After the above process is concluded, the worker’s claim is closed and they are no longer entitled to Workers’ Compensation benefits for their injuries. In the event of a subsequent accident, the worker would need to file a new claim for Workers’ Compensation benefits. NOTE : If an injured worker has received various Workers’ Compensation benefits from his employer but never signed Lump Sum Settlement contracts, he may still have a viable Workers’ Compensation claim if the Statute of Limitations has not expired .
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- When is a Workers Compensation claim considered settled and permanently closed?
