How Work Injury Settlements In Illinois Work
Workers’ compensation settlements are a form of insurance that provides lifelong implications for an injured worker. Typically workers’ compensation benefits are paid out in a lump sum to injured workers, who have permanent total disability or permanent partial disability, to settle their claims by employer through self-insurance or an insurance policy at no cost to employees.
The amount of compensation an injured worker receives depends on the nature of injuries. Sometimes the settlement provided by an insurance company or by employers for an injury may not be sufficient to cover permanent injuries stemming from an on-the job injury.
Under the Illinois Workers Compensation Act, when an employee is injured on the job, they are entitled by law to be compensated for the time lost from work due to injury within the Illinois state or out of state where the contract of employment is made within Illinois state. Illinois labor law mentions all legal guidance regarding employees eligible for claims and those who are exempt from workers compensation settlement processes.
Under the new Illinois Workers Compensation Law, there are five factors to be considered in determining the extent of loss for the purposes of a worker compensation claim:
- Physician’s Rating. This is a rating given pursuant to AMA guidelines that seeks to quantify your level of impairment using objective criteria.
- Occupation. This factor takes into account the physical and educational requirements of the occupation you were engaged in when you were injured.
- Age. Your age may play a part in determining the extent of your permanent total disability or permanent partial disability compensation.
- Future Earning Capacity. A drop in your earning potential can contribute to a determination of the extent of your compensation amount.
- Evidence of Disability Corroborated. The history of your injury and progress through treatment, as well as the lasting effects as observed by your physicians, can also factor into your worker compensation amount.
The interplay of these factors and percentage of compensation amount can be a very confusing and complex formula. Moreover, insurance companies may try to convince you that their physician’s calculations of your injury are the exact percentage you will be able to retrieve. Before considering any worker compensation settlement process for your work related injury, you should consult an experienced lawyer. Our team of Illinois workers’ compensation attorneys have decades of experience in fighting for the maximum settlement for our clients.
If you have been injured on the job in Chicago, Illinois request a Free Case Evaluation – Call Toll Free (888) 460-4878.