The Advantages of Lump-Sum Settlements in Oregon
Nobody goes into work, hoping they are going to be injured that day, but accidents can happen. If the accident is something that could have been prevented, then there might be a case for workers’ compensation. You should know that in some instances, lump-sum settlements in Oregon might be the best solution for getting the damages you are owed.
Mark Thesing Inc. is here to help you better understand the best way to approach workers’ compensation claims as well as answer any questions you might have about the process. As your attorney, he can help you better understand all of the paperwork that comes with a lump sum agreement so that you can make an informed decision before agreeing to anything. Contact us to schedule an appointment.
Why a Lump Sum Settlement May Be Beneficial
Electing to receive a lump sum settlement means you are likely to earn more money sooner as well as know the exact amount you are going to be awarded. Lump sums require very little upkeep and guesswork, as you are never looking ahead for the next payment as you might with traditional workers’ compensation wage benefits.
It is vital to know, however, that all settlements vary greatly. In the majority of settlements, the rights to future medical treatments are left open, but sometimes these rights are bought out. In other situations, the worker might want to leave the employer, or the employer might want the worker to leave as part of the settlement. As your attorney, we help you navigate these decisions confidently.
If Your Claim Is Accepted
Once your claim has been accepted, you may settle it via a Claim Disposition Agreement (CDA). By signing this agreement, you give up your right to time-loss benefits, as well as permanent partial disability or vocational benefits. However, you do get to keep medical benefits on accepted conditions, along with eligibility for preferred worker programs if applicable. All CDAs are reviewed and approved by the State of Oregon Workers’ Compensation Board.
If Your Claim Is Denied
If you end up disagreeing with the insurer about whether or not you have a valid workers’ compensation claim, you and the insurer may agree to a cash settlement where the claim state is denied. This is called a DCS. In this situation, your claim or new condition claim will stay denied, and you will give up all of your rights to future benefits, including medical benefits. The settlement may also request that you vacate your job as part of the agreement.