Alaska Worker's Compensation - Help For Injured Alaska Workers

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  1. #1
    Join Date
    Nov 2011
    Posts
    15

    Default How Do You Settle a Worker's Comp Case

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

    So, if the value of the body is defined and the your rating times that equals what you should get... Then how do you here of all the situations where folks got settelments for like 200K or more????

    I guess I dont understand that when it seems so clear cut by the law???

  2. #2
    Join Date
    Oct 2006
    Posts
    9,108

    Default Re: Whole Human Body 177k Dollars and Rating Based on That Base, then How Do Folks Ge

    it depends on what is settled and which benefits are included.
    depending on the injury and the treatment needed medical care could be worth 2 or 3 times that.
    PermanenTotal is a life time payment,
    throw in TTD as well as Impairment issues and the value of buyout could be quite large.
    Last edited by .SH; 04-09-2012 at 07:16 AM.

  3. #3
    Join Date
    Feb 2007
    Location
    Charlotte, NC
    Posts
    3,009

    Default Re: Whole Human Body 177k Dollars and Rating Based on That Base, then How Do Folks Ge

    People typically don't get 200K settlements based on their ratings. They get big settlements based on an inability to return to work for a long period of time.

    For instance, in NC if you have a comp rate of $500, you are 40 years old, and you have a 50% disability to the back--which is a big rating-- the your rating money is 150 weeks x $500 = $75,000.

    On the other hand, if this 40 year old person got hurt before 6-24-11, and is effectively totally and permanently disabled due to the injury, then he would possibly be entitled to lifetime TTD benefits. Life expectancy for a 40 year old is about 38 years, and the Present Value of 38 years of $500 per week in TTD using an 8% discount rate would equal about $309,400. That is how folks get large settlements in NC----by being unable to work for long periods of time, due to the injury. The insurance company is not going to pay $300K to settle that case, but they can do this math too, and they are looking to settle for an amount that saves money in the long run. So if the cost of the case is over $300K in the long run, it is entirely reasonable that they may want to pay close to $200K to get it off the books now.
    Last edited by complwyr; 04-09-2012 at 08:58 AM.
    The North Carolina Court of Appeals has held that "In contested Workers' Compensation cases today, access to competent legal counsel is a virtual necessity." Church v. Baxter Travenol Labs, Inc., and American Motorists Insurance Company, 104 N.C. App. 411, 416 (1991).

    Bob Bollinger, Attorney at Law

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