What Is the Average Workers Compensation Settlement in St. Louis?
Workplace accidents have different characteristics. The employer is responsible for covering liability for their employee’s accidental injuries. The settlement may vary based on factors such as fault, type of accident, or negligence in injury cases.
Therefore, the workers’ compensation settlement has no set average or maximum in Missouri. However, the compensation rate is typically equal to 2/3/ of your weekly wages during the injured period.
The first step to determining the claim value is identifying the type of injury and cost of the victim’s current and future medical treatment. Compensation for accidents resulting in disability is calculated as a percentage depending on the severity of the injury.
Reaching the Maximum Medical Improvement (MMI) is crucial before you settle your case. Maximum medical improvement occurs when all treatment options have been exhausted and further improvement is no longer possible. When someone reaches MMI, it does not mean that they are fully recovered; rather, it indicates that they do not need to keep trying to improve. Your MMI will help you determine the severity of your injuries and the amount of compensation you will need overall.
The Missouri Workers’ Compensation Chart can be used to calculate compensation settlement rates. Benefits are calculated based on an average of workers’ weekly wages. The following factors should be considered before calculating a workers’ compensation settlement:
The type and severity of the injury
Duration the victim is unable to work
A calculation of the injured body parts of the victim and the specific number of weeks it will take for them to recover
The percentage of the victims’ injuries on the body parts
The compensation rate, which is usually 2/3 of the victim’s average weekly wage
What Are the Benefits of Workers’ Compensation Settlement?
If the workers’ compensation insurance company approves the workers’ compensation claims, they are liable to pay any medical expenses resulting from the injury. If the victim cannot work, they will receive a percentage of their weekly wages as benefits.
The workers’ comp insurance provider also pays some benefits to people with temporary total disability, usually 2/3 of the employee’s pay. Upon returning to work, temporary total disability benefits cease.
Some of the factors that determine the workers’ compensation benefits are as follows:
The severity of the injury
Total medical expenses
The pain and suffering
The fault and negligence
What Factors Do You Need to Consider Before Settling for Worker’s Compensation?
Before you accept a settlement for your workers’ compensation case, you should consider the following:
If your medical insurance provider will continue to pay for the medical expenses
Whether the payment amount is adequate to cover your expenses for the rest of your life in the case of permanent disability
If the conditions of your settlement affect your current employment status
Do Workers’ Compensation Cases in Missouri Take Long to Settle?
There is a statute of limitations set by the Missouri Workers’ Compensation Commission that can vary depending on the circumstances. Settlement of a workers’ compensation case generally takes about six months from the date of injury.
In Missouri, workers’ compensation cases can be settled in two different ways: mediation and arbitration. Mediation can be done by an arbitrator appointed by the commission or by an independent mediator chosen mutually by both parties. The arbitrator will then decide on a settlement amount.
Arbitration involves submitting a dispute to one or more arbitrators, who render a binding decision. It is an alternative to going to court when disputing a legal issue.
When to Seek Help From Worker’s Compensation Settlement Attorneys in St. Louis
The workers’ compensation claims process is hard to handle; thus, the assistance of a personal injury attorney is crucial.
If you encounter an injury at a workplace in St. Louis, do not hesitate to contact an attorney from the Buchanan, Williams & O’Brien law firm for legal help.
Frequently Asked Questions
Does Surgery Increase Workers’ Comp Settlement in Missouri?
If you undergo surgery before your settlement, you will receive a higher payout regardless of the type of settlement you receive. The insurance company will still most likely cover your medical treatment if you undergo surgery after a stipulation and reward settlement.
What’s the Highest Settlement for a Back Injury in Missouri?
The workers’ compensation claims can be uncertain depending on the nature of the injuries. Several of Buchanan, Williams & O’brien’s clients have received significantly high settlements, with the highest exceeding $1,000,000.