Will Insurers Settle Medical to Avoid Lifetime Payments

[painfulle]

Once the 500 week has expired, is it common for a insurer to offer to settle medical so they don't have to pay through out the life time of a IW. If so a cash incentive would have to be in play. Has anyone had any experience with this.

[Timothy Belt]

So long as there is an entitlement to any form of benefits, the IC has an incentive to try to settle to eliminate their liability. Obviously though, the lower the potential liability, the less they will be willing to offer. Since there is no cap on temporary total disability benefits, continuing to receive these benefits does not have much, if any, impact on settlement value in most cases. For an injured worker who has started to receive their 500 weeks of partial disability benefits, every check reduces their total settlement value. Therefore, such an injured worker should seriously consider whether or not they wish to settle their case when their value is higher to receive more money or continue to receive ongoing benefits. There is a certain level of security in the ongoing benefits, but there is only so much that can be done with the ongoing indemnity checks. On the other hand, the lump sum ends benefits, but the larger amount provides options that would not otherwise be available.

[BvIA]

Probably. The best claim for a carrier, is a closed claim.
There would be little incentive to cash out PPD indemnity and leave the medical open.
It's not always in the best interest of the IW to cash out the medical in a comp claim... you are agreeing to assume full liability for your injury, paying out of your pocket for any additional treatment necessary.

Consult a competant WC attorney before you make any decisions.

[complwyr]

Settling future medical is partly dependent on how much medical you have been using recently, and what the doctors say you may need in the future. Here in NC we rarely see substantial future medical settlements unless someone needs chronic ongoing care in a catastrophic injury case.