When it comes time to attempt to negotiate a settlement for your case, a settlement can be reached in variety of ways. Each individual case is different than the next and needs to be evaluated on the facts and merits. Therefore, the settlement terms may not be the same as a relative, friend or acquaintance . Some of the types of settlements you may encounter are “to-date” or a “Full, Final and Complete.”
This type of settlement only resolves issues through the date of settlement or Award on Stipulation. All benefits that are not settled could be claimed in the future.
Full, Final and Complete
In this type of settlement, you agree to give up any claim against the employer and insurer as a result of an injury. A close out of benefits typically include wage loss, permanency, and rehabilitation. At times, the settlement may even include future medical.
Stipulation for Settlement
The settlement terms are typically laid out in a document called a Stipulation for Settlement. The Stipulation will need to be signed by all parties including any medical providers or third party payers. Once the document has been drafted and signed by all parties it is submitted to a Compensation Judge for approval and issuance of an Award on Stipulation. The Award will be signed by the Judge and mailed to all parties. Once the Award has been served and filed, the insurance company must issue payment within 14 days of the award.
Before settling your workers’ compensation case, it is extremely important you have a good idea of what you are agreeing to settle. If you do not have an attorney and are contemplating a settlement offer, it is always a good idea to talk with a lawyer. Most lawyers are willing to sit down with and discuss your case at no charge. Often times, you can get a better idea of what you are giving up and what you are getting in return. When you meet with a lawyer make sure to bring with you all relevant documents and materials.
If you have been denied workers’ compensation benefits or need to discuss your Minnesota workers compensation case, we at The Law Office of Thomas Mottaz are workers’ compensation attorneys that help people with Minnesota work injuries anywhere in MN. Contact us for a free consultation and we will answer your questions or help you find the right lawyer for your situation.