Dealing with a work injury and workers’ compensation can be a long, painful process. It would be a lot less painful if there was $1,000,000 waiting for you at the end of it, right? In reality, a million-dollar settlement might not be as wonderful as you’re imagining. Because workman's compensation doesn’t account for pain and suffering, there are certain factors that come into play for awards to come even close to seven digits.
- The worker who is recovering must have had a high compensation rate. Workers that make above $70,000 will be entitled to the highest compensation rate allowed by the Industrial Commission. They will also have to be awarded close to the allotted 500 weeks of work to make it significant.
- There must be near-catastrophic medicals projected. Basically, the medications and procedures prescribed will need to be expensive and ongoing. The need for continued care will both bring up the cost of medical expenses and prevent the worker from returning to any kind of work.
- The injury requires a form of attendant care. If this happens, the workers’ compensation carriers are required to pay skilled nurses or family members to help care for the injured worker if they need attention at home. This is generally very expensive and will account for a huge chunk of that $1,000,000.
While it might seem like getting a $1,000,000 settlement would be great, the reality is that most of that money will be going towards medical expenses, not your pocket. However, if your case is worth $1,000,000, we absolutely want to make sure that you’re getting the money that’s owed to you. In fact, we have a great deal of experience working these kinds of cases. No matter the extent of your injuries, you deserve fair compensation.