Formula for Calculating a Settlement

[Dougnddeb]

My workers compensation claim was made in the State of: TN

Can anyone tell me the exact calculation for determining a settlement? IE...(Impairment rating, times weeks off of work, times 66% of pay?) I am trying to calculate what a fair settlement would be. My wife broke her wrist at work and had to have surgery. She was off for three months and was released with MMI after six and a half months. Any help would be greatly appreciated.

Doug

[PainandSmiles]

There is a formula. I recently went to my attorney and he walked me through it. It's based on the rating you receive plus age and something work related. Unfortunately I don't remember all the details of it but from what I understand it's pretty much an exact formula based on different factors. You also will have any PD pay taken out of the settlement total (if I remember that correctly).

One thing I do know is that their is no such thing as a 'fair' settlement.. at least in what an injured worker would deem as fair. It's not much money from what the Attorney explained to me. He said that he's had cases where the person physically can no longer work and due to the 'formula' used only received 7k.

If I were you and your wife I would mentally prepare for a very low number so you're not shocked and upset when you reach the point of settlement.

Hope your wife is feeling better and is back to working!

[.SH]

ratings are complex and unique to each set of circumstances.
do you have a disability award?
an impairment rating is not a disability rating.
some situations require that a disability rating be generated by combining a medical impairment rating with vocational factors.
loss of job may after an impairment rating may also be grounds for having a rating reconsidered by the court.

more on permanent impairment and disability benefits under Tennessee comp law here
http://www.tn.gov/labor-wfd/wcfaq.html#WCbenrev

[Dougnddeb]

Thanks for the replies. .SH, what is the difference between a disability rating and an impairment?

Thanks,
Doug

[.SH]

impairment comes from the doctor.
disability is what workers comp adds--- like loss of job and vocational factors.

[Dougnddeb]

Thanks .SH

[kenziesmomma]

I have been off work since sept 2011 and have been released by dr and put at mmi with 7% rating. I was told I will not have a job at place of injury and was getting 355 every 2 wk. Tryin to figure out what my settlement! Please help! I have a back injury heniated and ruptured disc in lower back L4-5 & L5-S1. Thanks single unemployed injured mom!

[BvIA]

I have been off work since sept 2011 and have been released by dr and put at mmi with 7% rating. I was told I will not have a job at place of injury and was getting 355 every 2 wk. Tryin to figure out what my settlement! Please help! I have a back injury heniated and ruptured disc in lower back L4-5 & L5-S1. Thanks single unemployed injured mom!

Depends on what state you are in.
There is no guarantee of a cash settlement... WC is about paying benefits, and medical care.
You are entited to the number of weeks based on the final PD rating.

You'll likely be offered a cash settlement, in that you are also agreeing to assume liability, out of your pocket, for any further medical care you may need.

Cash for PPD indemnity, something for medical reimbursement.... that's about it.

[janjan44]

I have a ankle injury that is now a grade 3 ligament injury had 2 surgery's, my back has three slip disc a pinched nerve, fusion etc... which is the same nerve that i am having problems with my hip and knee gyves out ssi disability perm. disabled on my ankle i am settling with open medical care i will need back surgery its been 6 years i have not returned to work all the doctors gave me perm disabled rating, my attorney said we have to go to court why the insurance company has never denied anything how much is my case worth how do I calculate it ? I live in California.

[tony]

janjan44

how much is my case worth how do I calculate it ?

You hire a competent attorney and have him evaluate it based on the facts of your case.
The insurance isn't mandated to settle, usually they'll cash out a claim for a fraction of it's value.

You guys might as well give up on this "how much is my case worth, what is the formula" threads.
Each case is valued on the specifics of that case, there is no normal, they are as unique as the stars in the sky.

Tony