Re: I Have Settled with Memic. How Long Does It Take to Receive Funds
An agreement with that advocate isn't binding - the advocate has to propose it to the carrier for a response.
I verbally agreed to a settlement with my advocate via phone on June 7th 2017. It is exactly 30 days and I have yet to receive any corrospondence.
If the carrier accepts the agreement, it will then have to be approved by the commission and finalized in a redemption hearing.
The timeline for the final hearing is established by the courts caseload, without knowing that, it's impossible to guess.
You have a ways to go yet, be patient - I would give it at least another 3-6 months.
Maybe someone who's been through the process in your state will weigh in and give more definite info.
See pg. 51 in the below link.
Do all settlements require court approval?
Yes, all settlements require the approval of the Hearing Officer (or ALJ).
Who approves settlements?
Hearing Officers are authorized by the Board to conduct hearings and issue decisions on the approval of lump sum settlements pursuant to 39-A M.R.S.A. § 352. (See 90-351 Workers’ Compensation Board,
Chapter 12, Formal Hearing, §6)
Moderator Responses are based on my personal bias, experience and research - They do not represent the views of the admin nor may be accepted in the legal community, always consult an attorney.