Lump Sum Settlements

Writing Check
Overall, I was very satisfied with Edgar Snyder & Associates because everything worked out so well. For me, it was a complete overall satisfaction. I was surprised and happy with my settlement amount. It was more than I expected. Injured construction worker
Greene County, PA

If you were injured on the job, you may have heard of something called a "Lump Sum Settlement" – also known as a "Compromise and Release."

Note: Please know that when you sign to accept a lump sum settlement, this is a one-time payment. If you accept a lump sum, you can't go back for more money. Your employer's insurance company doesn't owe you another cent. What's more, the insurance company will almost always offer much less than you deserve.

That's why it's important to consult with an attorney before you agree to a lump sum settlement. Our legal consultations are free and there's no obligation to use our services. Call us at 1-866-943-3427 or fill out a simple online legal consultation.

Frequently Asked Questions
What forms should I sign? What forms should I not sign?
:: Answer ::

The Workers' Compensation Bureau prints almost all forms on the same color paper, and they can be very confusing. You should make sure you read the documents very carefully. In Pennsylvania, if you sign a document, the Courts believe that you have read it and understood it, and they will enforce what you have signed, even if you made a mistake.

You should sign the following forms:

  • Authorization for Medical Records: This form releases your medical records so that the insurance company can review them to process your claim.
  • Employee Verification Form: You must complete this form whether or not you have earnings from alternative employment. You must return this form within 30 days of receipt or jeopardize your right to receive benefits.

Be careful if you are asked to sign the following forms. Our law firm recommends that you do not sign these until you have first consulted with an attorney:

  • Supplemental Agreement: Usually this form states that you can go back to work and your claim is still open. However, this form may state that your benefits are being terminated. Do not sign this form unless you are fully recovered from your injury.
  • Final Receipt: Do not sign this form unless you are fully recovered from your injury. If you are being pressured to sign and you don't think you are completely recovered, our Pennsylvania workers' compensation attorneys can help.

What is a Lump Sum Settlement?

Under Pennsylvania worker's compensation, if you have been off work for more than 4 months due to a work-related injury – and you're currently receiving workers' compensation – you may be able to settle with the insurance company for a lump sum.

A lump sum settlement is a one-time payment that can replace your weekly workers' compensation checks, your medical bills, or both. You can accept a lump sum settlement for both your lost wages and medical expenses. However, a lump sum settlement amount cannot be more than your weekly workers' compensation benefits mutiplied by 500 weeks.

Accepting a lump sum settlement for your medical expenses can be tricky. If you accept a lump sum payment for your future medical care, you will not receive any more money for your medical treatment after these funds are spent.

Remember: If you agree to a lump sum settlement, you won't receive another penny from Pennsylvania workers' compensation. Before agreeing to a lump sum settlement, it's important to make sure that the offer is fair and that it's a good idea for you. You should hire an experienced attorney to help negotiate with the insurance company, because the insurance company will nearly always offer much less than you should receive.

Is a Lump Sum Settlement Right For You?

You may want to settle for a lump sum of money if:

  • You have stopped making progress in your recovery – and your doctor believes you will not continue to recover
  • You are tired of the workers' compensation hassle and want to move on with your life

If you're thinking about a lump sum settlement, you should take a good look at your medical costs and what they may be in the future.

  • Will you need another surgery?
  • Will you be unable to work for years to come?
  • Will the settlement be enough money to give you financial security?
  • Are your injuries likely to get worse or lead to other conditions, such as arthritis?
  • Is it worth more than the hassle of dealing with the insurance company?

Be sure to think about these questions, and consult an attorney to see if a lump sum settlement is in your best interest. An experienced attorney can best calculate possible medical expenses you may encounter down the road.

Free Case Review
First Name
Last Name
Phone
Email