Wanko Workers' Comp Lawyers logo
(985) 893-6530

Lump Sum Payments

Lump Sum Payments & Settlement Options

When it comes to accepting a lump-sum payment for your workers’ compensation claim, it’s important to understand you are never the insurance company’s priority – an offer is being made to limit the expense and liability of your claim by locking in a lower cost for the insurance company through a settlement payout.

At Wanko Law, we believe anyone dealing with a work injury deserves immediate access to an experienced Louisiana workers’s compensation law firm. We focus exclusively on fighting for the rights of injured workers and their families and offer free and confidential consultations to discuss your case.

As discussed elsewhere on this site, the best time to consult with an experienced work injury lawyer in New Orleans, Covington or Raceland, is as soon as possible after an injury occurs. You have the right to choose your own physician, which will have a major impact on the treatments and benefits to which you are entitled. Choosing a doctor and making other major decisions about your care are always best done with the help and guidance of an experienced workers’ compensation law firm.

Workers’ Compensation Settlements

Workers’ compensation insurers often use impairment ratings, Functional Capacity Evaluations and determinations of Maximum Medical Improvement to determine settlement offers, despite the fact that a disability or impairment ratings is typically not required by Louisiana workers’ compensation law. Each of these exams and determinations can have a significant impact on your rights to continue receiving benefits, as well as what benefits you may be entitled to for years to come. Unfortunately, by the time an injured worker becomes unsatisfied with the results, significant damage to his or her case may have already been done by proceeding without qualified legal help throughout this complex process.

Impairment ratings are usually determined during a Functional Capacity Evaluation (FCE). This rating is often used by the insurance company to determine monetary awards (i.e. settlement offers). However, under Louisiana law, an impairment rating is not used to determine Supplemental Earnings Benefits, Temporary Total Disability benefits or Permanent Total Disability benefits. Rather, this impairment rating percentage is used to determine a monetary award under LA R.S. 23:1221 for Permanent Partial Disability (PPD) benefits, which concerns cases of amputation or loss of use of parts of an injured employee’s body.

For these reasons, it is somewhat rare that an impairment rating will be required for a Louisiana workers’ compensation claim. However, the fact that workers’ compensation insurance companies frequently insist injured workers undergo examinations to determine such ratings, and then use these ratings in settlement negotiations, leaves injured workers exposed and confused. This is another example of why consulting with an experienced Louisiana workers’ compensation law firm at the outset of your case is often vital to protecting your rights and the financial well-being of you and your family.

At Wanko Law, our offices believe injured workers and their families are too often operating at a significant disadvantage throughout this process. In fact, we will review any potential settlement offer you receive and if we cannot get you more, we will not take any fees or expenses.

There are good reasons why an employee may choose to settle a claim, including the fact that a claim generally reaches maximum value between the time an employee completes major treatment and the time he or she can return to work. The passage of time, vocational rehabilitation, and an increasing ability to return to work in some capacity may all erode the value of a claim.

However, many challenges remain:

  • It may be difficult to estimate the cost of current rehabilitation and medical care needs.
  • It may be difficult to estimate the time required to reach full recovery, as well as additional home-care and rehabilitative needs.
  • It may be difficult to determine the likelihood of unseen developments or future medical complications.
  • Disability ratings, though often not required, used by insurance companies may be unfairly and incompletely determined.
  • An overestimation of functional capacity and/or employability may negatively impact the value of your claim.

Work Injury Settlement Options

Under Louisiana workers’ compensation law, there are generally two types of work-injury settlement:

  • Compromise settlement: Resolves a dispute between the employee and the insurance company regarding how much an employee is owed. This is a common type of settlement due to the fact that workers’ compensation insurers often contest claims at virtually every stage of the process.
  • Lump-sum settlements: Parties agree to a generally discounted value of future benefits in exchange for a lump-sum settlement and a full release of future liability of the insurance company.

Lump sums must be very carefully negotiated by an experienced work injury attorney in New Orleans, Covington, or Raceland. Naturally, the workers’ compensation insurer will push for steep discounts in exchange for a fast settlement. However, it’s important to note that without any present-value discount, the insurer benefits in a number of important ways:

  • They pay future costs today, saving them unknown future liability.
  • They avoid potential future complications for which they could be financially responsible.
  • They eliminate ongoing administrative expenses related to your claim.
  • They lock in known costs associated with your claim and eliminate future costs.

At Wanko Law, we focus exclusively on fighting for the rights of injured workers and their families. We don’t believe in negotiating away the full value of your claim for a quick payout. While we are here to serve our clients and their families, and their desires are critical to every decision we make, we know it is always a good deal for the insurance company to settle your claim for its full and fair value today.

If you have been injured, call day or night for a free and confidential consultation to discuss your rights. Call 985-893-6530.

Louisiana Workers' Compensation Claims

-20 Years of Professional Experience- 

Will My Injury Be Covered?

Workers’ compensation covers both mental and physical injuries and occupational diseases.
Under Louisiana law, an accident refers to anything that is unexpected, unforeseen and occurs suddenly or violently – producing an injury.
The injury:
  • may or may not produce a disabling condition
  • may allow you to still work
  • may take you out of work
Generally, your compensation will not be affected depending upon who was at fault for the accident.
An occupational disease or illness is covered if it is the direct result of exposure to hazardous or toxic materials in the workplace. If you work in Louisiana’s oil and gas or chemical and petrochemical industries, you are at a greater risk to develop serious health conditions.

Common injuries suffered on the job include, but are not limited to:

Louisiana Workers' Comp Benefits

Will My Injury Be Covered?

In Louisiana, most workers are covered under Workers’ Compensation Statutes on the first day that they begin employment. These benefits extend to all workers whether they are employed full-time, part-time or seasonally.
Additionally, employees who are minors are also covered to the same degree as if they were adults.
Primary Types of Benefits:

Indemnity/Lost Wages — weekly payments based upon your average weekly wage; you will receive 66% of your average weekly wage capped at a maximum rate

Medical and/or Death — covers all necessary and reasonable medical treatment, including doctors visits, diagnostic tests, hospital stays, surgery, physical therapy, etc.

Mileage Reimbursement — travel related expenses to and from health care provider, pharmacy, etc. Vocational Rehabilitation program designed to retrain you in an attempt to return you to work for your previous employer, or find new work.

Contact Louisiana Workers' Comp

Whether you have suffered an immediate injury or have endured a long-term disability or chronic illness, you deserve to have the support you need to recover. Our work injury attorneys will provide you with nothing less than compassionate understanding and exceptional legal counsel.
We’re eager to start advocating on your behalf.
CALL US (985) 893-6530
Wanko Workers' Comp Lawyers provides its service in New Orleans, Covington, Houma, Thibodaux, Mandeville and all across Louisiana
Covington Location
19295 N 3rd St Ste 1 
Covington, Louisiana 70433
New Orleans Location
1140 St. Charles Street
New Orleans, Louisiana 70130
Thibodaux Location
406 West 3rd Street, STE 105
Thibodaux, Louisiana 70301

Disclaimer: The hiring of an attorney is an important decision that should not be based solely on advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. The information on this website is for general information purposes only. This information on this website is not intended to create, and receipt or viewing of this information does not constitute an attorney client relationship. We are workers compensation attorneys serving the entire New Orleans area including Larose, Golden, Meadow, Thibodaux, Houma, Covington, Mandeville, Abita Springs, Metairie, Belle Chasse, Elmwood, Boutte, Harahan, Destrehan, River Ridge, Raceland, Slidell, Kenner and all of Louisiana. We serve St. Tammany Parish, Livingston Parish, Orleans Parish, and Jefferson Parish.
Copyright © 2022 Wanko Workers' Comp Lawyers. All Rights Reserved.
Privacy Policy |
HTML Sitemap |
XML Sitemap
Powered by: