[{"@context":"http:\/\/schema.org","@type":"BlogPosting","url":"https:\/\/www.trollingerlaw.com\/blog\/how-much-of-my-workers-comp-settlement-do-i-get-to-keep\/","mainEntityOfPage":"https:\/\/www.trollingerlaw.com\/blog\/how-much-of-my-workers-comp-settlement-do-i-get-to-keep\/","name":"How Much of My Workers\u2019 Comp Settlement Do I Get to Keep?","headline":"How Much of My Workers\u2019 Comp Settlement Do I Get to Keep?","articleBody":"Expenses can pile up quickly after a job injury. In addition to your medical bills, you may worry about lost wages, reduced future earnings, and any long-term disabilities you develop. Naturally, you want to secure maximum compensation in a workers\u2019 compensation settlement. But how much of your award do you get to keep? Other parties, such as legal and medical professionals, may have a claim on some portion of the compensation you receive.There is no single answer to how much compensation you retain in a workers\u2019 comp settlement, but working with an attorney is essential to maximizing your award. At\u00a0Trollinger Law LLC, we have helped many Maryland workers recover full and fair compensation after work-related accidents. For help navigating the claims process, contact us today to speak with an experienced\u00a0workers\u2019 compensation lawyer.What is a Workers\u2019 Comp Settlement?Most Maryland employers must provide workers\u2019 compensation insurance for their employees. When a qualifying worker gets hurt or develops an occupational disease, they can file a claim with their employer\u2019s insurer to receive workers\u2019 compensation for their injuries. Workers\u2019 comp typically includes money for the employee\u2019s medical bills and a portion of their missed wages.A workers\u2019 comp settlement is an agreement between an employer and their injured worker. The employer agrees to pay a fixed amount for the employee\u2019s medical care, lost wages, and long-term disability. Employees often receive workers\u2019 comp benefits until they heal. In other cases, an employee opts to settle instead of collecting benefits. Once the employee agrees to the settlement, they generally cannot recover additional compensation for that particular injury.The Employer\u2019s Responsibility in a Workers\u2019 Compensation SettlementUnder Maryland law, employers must pay for an injured worker\u2019s reasonable and medically necessary treatment until the worker heals or reaches a point where further treatment will not make a meaningful difference. In addition, employers must provide compensation for a portion of the injured worker\u2019s missed wages up to a limit set by\u00a0state law. In most cases, an injured worker\u2019s employer submits a workers\u2019 comp claim to their insurance company.How are Workers\u2019 Compensation Settlements Calculated?Some of the factors that go into calculating a workers\u2019 comp settlement include:Your past and future medical billsHow much work you will miss, or whether you can work again at allYour missed wagesThe severity of your injuries and disability ratingVocational rehabilitationYou, your workers\u2019 compensation lawyer, and your employer\u2019s insurance company must weigh these factors to reach a reasonable settlement. Remember that your doctors, attorney, and other parties may be entitled to a portion of your settlement.Types of Workers\u2019 Comp SettlementsThere are two types of workers\u2019 comp settlements. The first is a\u00a0lump-sum settlement, meaning the injured worker gets the total settlement amount upfront. The second is a structured settlement, meaning the injured worker receives their compensation in fixed increments over a set period. Both settlement types have pros and cons. Discuss the advantages and disadvantages with your attorney before making a decision.What is the Average Workers\u2019 Compensation Settlement?Every workers\u2019 comp case is different, so coming up with an average settlement figure would be meaningless. That said, consulting a workers\u2019 compensation lawyer is crucial if you want to recover as much money as possible. Remember, your employer and insurance company want to keep their costs low and pay as little as possible in a settlement.Get Help from Our Workers\u2019 Compensation AttorneyThe legal team at Trollinger Law LLC knows how important it is for you to recover as much money as possible in a workers\u2019 compensation settlement.\u00a0Call us today or visit our contact page to schedule a free consultation.","description":"Expenses can pile up quickly after a job injury. In addition to your medical bills, you may worry about lost wages, reduced future earnings, and any long-term disabilities you develop. Naturally, you want to secure maximum compensation in a workers\u2019 compensation settlement. But how much of your award do you get to keep? Other parties, such as legal and medical professionals, may have a claim on some portion of the compensation you receive. There is no single answer to how much compensation you retain in a workers\u2019 comp settlement, but working with an attorney is essential to maximizing your award....","about":"Workers' Compensation","dateModified":"2023-03-27","wordCount":619,"datePublished":"2023-02-01","publisher":{"@type":"Organization","logo":{"@type":"ImageObject","url":"https:\/\/www.trollingerlaw.com\/wp-content\/uploads\/2023\/03\/Logo-Header-1.svg","height":0,"width":0,"@id":"https:\/\/www.trollingerlaw.com\/wp-content\/uploads\/2023\/03\/Logo-Header-1.svg"},"name":"Trollinger Law LLC","@id":"https:\/\/www.trollingerlaw.com\/blog\/how-much-of-my-workers-comp-settlement-do-i-get-to-keep\/#Organization1"},"image":{"@type":"ImageObject","url":"https:\/\/www.trollingerlaw.com\/wp-content\/uploads\/2023\/02\/trollinger-law.png","height":373,"width":497,"@id":"https:\/\/www.trollingerlaw.com\/wp-content\/uploads\/2023\/02\/trollinger-law.png"},"author":{"@type":"Person","image":{"@type":"ImageObject","url":"https:\/\/secure.gravatar.com\/avatar\/fecba0beea03ea549751c6d96abc8968?s=96&d=mm&r=g","height":96,"width":96,"@id":"https:\/\/secure.gravatar.com\/avatar\/fecba0beea03ea549751c6d96abc8968?s=96&d=mm&r=g"},"url":"https:\/\/www.trollingerlaw.com\/blog\/author\/trollingerlaw\/","name":"Trollinger Law LLC","identifier":8,"@id":"https:\/\/www.trollingerlaw.com\/blog\/author\/trollingerlaw\/#Person"},"@id":"https:\/\/www.trollingerlaw.com\/blog\/how-much-of-my-workers-comp-settlement-do-i-get-to-keep\/#BlogPosting"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.trollingerlaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"How Much of My Workers\u2019 Comp Settlement Do I Get to Keep?","item":"https:\/\/www.trollingerlaw.com\/blog\/how-much-of-my-workers-comp-settlement-do-i-get-to-keep\/#breadcrumbitem"}]}]