Re: Ss Retirement and Lump Sum
When was your injury and what was injured, it matters. If the injury was before March 17, 2007 then you would be eligible for life time cash payments, and medical services, if you don't settle. You have to answer this, what is the monthly WC payment going to be, the max is $1733.3334 to equal $20,800 per year (tax free). You also will not be responsible for medical treatment costs! You also do not have to settle as it appears the IC wants you to settle, also you could settle the cash portion of your case and leave the medical open, so the IC would have to pick up the medical costs, this is done through negotiations.
A section 32 settles the whole claim, the cash and medicals together and you'll need a WCMSA/setaside arrangement prior to any section 32 completion. I don't know the dollar figure that your suppose to get but if you stated that $5,600 is for medical set aside and not counting the attorney fees plus the extra $15K (would be less than one years total if receiving the max of $20, 800 per year)it sounds as if they are really putting the best carrot before the horse to get you off the comp rolls by the IC. What has your attorney said about this, he is best suited to answer any of your questions as he knows your case in and out and we don't give legal advice on this forum. As your attorney, look at what SH and BvIA has written and there is a NYS forum on this board (scroll down the page) where similar questions may have been asked and answered. Keep us informed!WCMSA/setaside arrangement
Knowledge is a beneficial tool for the injured worker!