Q:

What is the average worker's compensation settlement?

A:

Quick Answer

According to the United States Social Security Administration, the average worker's compensation payout was equal to $1.16 for each $100 of income earned in the year 2002, the most recent year for which such statistics are available.

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Full Answer

Worker's compensation claims vary greatly from one case to the next, and most attorneys caution that even similar cases may have vastly different settlements. Previous to the implementation of worker's compensation programs, injured employees had few avenues for recourse. Ultimately, the only option for such workers was to file a lawsuit against their employers. Worker's compensation programs derive their funding from employers though some economists argue that employees actually pay the bill in the form of lower wages.

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Related Questions

  • Q:

    How do you receive a workman's compensation settlement?

    A:

    To receive a workman's compensation settlement, the worker and claims administrator need to agree on a settlement, the California Division of Workers' Compensation explains. Report the compensation case to an administrative law judge or an attorney to begin the settlement process, then accept payment based on the agreement terms.

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  • Q:

    How do you accurately calculate an anticipated worker's comp settlement?

    A:

    To accurately compute your anticipated worker's compensation settlement, you need to aggregate your current and estimated future medical expenses with the compensation that applies to your impairment rating, explains the Law Dictionary. In some circumstances, you may need to factor perceived risk into your calculations; this is the probability of your employer denying liability by claiming that your injury is the result of improper conduct or substance abuse.

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  • Q:

    What are the instructions for creating and administering a Medicare Set-Aside Trust?

    A:

    To create and administer a Medicare Set-Aside Trust, also known as a Workers' Compensation Set-Aside Arrangement, or WCMSA, a worker who receives a compensation settlement sets aside a portion of the funds and uses them only for Medicare-approved medical expenses for the injury that prompts the settlement, reports Medicare.gov. Medicare pays for medical services related to the injury only after depletion of the WCMSA. Workers can self-administer a WCMSA or hire professionals, states the Centers for Medicare and Medicaid Services.

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  • Q:

    How long does it take to get a workers compensation settlement?

    A:

    The time it takes to get a worker's compensation settlement ultimately depends on how long it takes the injured worker to recover, as the final disability the worker will experience must be known, and the worker's state's process for legal proceedings for such cases also has an effect on the time, notes Rehm, Bennett & Moore Attorneys At Law. Although each case is unique, a year from when the worker first filed the case is a common time estimate for a settlement.

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