The Kinds of Workers’ Compensation Settlements
If you suffer an injury while performing your work duties, you should be eligible for a settlement from your employer’s workers’ compensation insurance provider. This is simple in theory, but in practice can be more complex than many people realize. For example, there are actually four basic kinds of settlements in Iowa, each of which can be combined with another or adjusted by the state.
When you are already handling an injury, medical treatments, and related bills, our state’s complicated workers’ comp laws can seem overwhelming. Fortunately, the workers’ compensation attorneys at LaMarca Law Group, P.C. are here to help. Call our offices at 877-327-2600.
The Four Kinds of Settlements
The following is only a review of basic information concerning insurance settlements. Your individual settlement may differ from the ones described here. Our Des Moines workers’ compensation settlement lawyers can help you choose between settlement options like:
- Compromise settlement. As you can guess from the name, this kind of compensation is offered when there has been a dispute over a worker’s claim. By accepting this compensation, you are agreeing that the matter is finished and you no longer qualify for additional payments related to your injury.
- Agreement for settlement. Sometimes workers and employers are able to agree on a fair settlement without a lengthy dispute. When you accept this offer, you do not relinquish the right to request additional payment if your medical situation changes.
- Full commutation. This is a lump sum covering all of a worker’s medical expenses and compensation for lost wages. While it is based on an agreement for settlement, it does mean that you are not eligible for any further payment. You will also need to demonstrate that receiving a lump sum is in your best interest.
- Partial commutation. This entails receiving a lump sum for part of the benefits for which you qualify. It does not prevent you from receiving additional payment in the future.
Any kind of settlement must be approved by the workers’ compensation commission. The experienced Des Moines workers’ compensation settlement lawyers at LaMarca Law Group, P.C. can help you demonstrate that your preferred settlement is the best option. Contact us at 877-327-2600.