Workplace injuries occur daily. Data from the U.S. Bureau of Labor Statistics (BLS) reveals that nearly three out of every hundred U.S. workers were injured in 2022.
These injuries can lead to significant challenges, including mounting medical bills and lost wages. Many individuals who sustain workplace injuries opt to file for workers’ compensation. You might be curious about the average settlement amount if you’re considering pursuing a claim. Our worker’s compensation lawyers can provide guidance and help guide your claim.
What Does Workers’ Compensation Mean?
Workers’ compensation, often referred to as “workers’ comp,” is a program that benefits employees who sustain injuries or illnesses due to work-related incidents. This insurance coverage helps cover medical expenses, provides income for lost wages, and may also offer educational retraining and disability payments.
While state governments mandate workers’ compensation, the coverage specifics can vary significantly between states. Notably, South Carolina requires employers with at least four employees to have workers’ compensation insurance.
Key Takeaways:
- Workers’ compensation is an insurance program that benefits employees injured or disabled from work-related incidents.
- Previously known as “workman’s comp,” this insurance covers medical expenses, lost wages, disability benefits, rehabilitation, and job retraining.
- By accepting workers’ comp benefits, employees give up their right to file a lawsuit against their employer for these injuries.
- Workers’ comp is distinct from both unemployment benefits and disability insurance.
What the Average Workers’ Compensation Settlement Pays
Determining the value of a typical workers’ compensation settlement can be challenging, as no two workplace injuries or compensation cases are alike. Various factors influence the settlement amount, including the type and severity of injuries sustained.
Settlements generally range from $2,000 to $40,000, averaging around $20,000. However, outcomes can vary widely; for instance, our firm has secured a client settlement as high as $640,000.
Factors influencing a workers’ compensation settlement may include:
- Lost wages
- Current and future medical expenses
- The severity of the injury
- Need for vocational training
- Other compensable losses
Consulting with an attorney experienced in workers’ compensation can provide resourceful insight into what you might expect from your settlement.
Does Workers’ Comp Provide Salary Coverage?
Workers’ compensation does not cover your full salary when you cannot work due to an injury, but it does provide a percentage of your gross weekly take-home pay until you can return to work.
- Maximum Benefits: In South Carolina, there’s a limit to how much you can receive weekly. For 2024, the cap is set at $1,093.67 per week. This maximum applies even if two-thirds of your weekly salary exceeds this amount.
- Minimum Benefits: On the lower end, the minimum weekly benefit is $75 unless two-thirds of your regular weekly earnings fall below this threshold, in which case you’ll receive your actual earnings. If your weekly salary is under $75, you will receive the full amount as your compensation.
- Payment Timeline: Compensation for lost wages begins only if your injury incapacitates you for more than seven days. You must work for at least seven days to receive compensation. However, if your inability to work extends beyond 14 days, you will be compensated from the first day you were out. For instance, if your work absence extends to 15 days, you will be compensated for the entire duration.
Why You Should Hire a Workers’ Compensation Lawyer to Help You
Hiring a workers’ compensation lawyer can be crucial, even if these cases rarely proceed to trial. If you struggle with your claim or receive minimal offers, an experienced lawyer can make a significant difference. Our lawyers are committed to securing the best possible settlement for your injury.
Here’s how we can help:
- Advocate for your best interests at all times.
- Negotiate with insurance companies to prevent lowball offers.
- Collect and organize evidence to strengthen your claim.
- Manage all communications with involved parties.
Consider our services if your workers’ compensation claim has stalled and you feel you’ve run out of options. We require no upfront fees and only get paid if we secure a settlement for you.
What Benefits Decide Your Workers’ Compensation Settlement?
The value of a typical workers’ compensation settlement varies based on the benefits an employee is eligible to receive, including the types and amounts of those benefits. Workers’ compensation commonly covers several types of benefits, including:
Wage Replacement
Wage replacement benefits are crucial in workers’ compensation, providing financial stability during recovery. Temporary Total Disability (TTD) benefits are available for employees unable to work due to injuries.
These benefits typically cover a portion of your usual income, ensuring you have financial support while healing. For those who can return to work but with reduced capacity, Supplemental Earnings Benefits may supplement the income difference.
Additionally, permanent disability benefits are designed to provide long-term financial aid to those with lasting impairments from workplace injuries, reflecting their reduced earning capacity.
Medical Benefits
Medical benefits under workers’ compensation ensure injured employees receive necessary medical care without incurring out-of-pocket expenses. This coverage includes all aspects of medical treatment, from initial diagnostics and testing to extensive procedures and hospital stays required by work-related injuries.
The policy aims to alleviate the financial burden of medical expenses, enabling workers to focus solely on their recovery. By covering a broad range of medical services, workers’ compensation supports a comprehensive healthcare approach to help employees return to their pre-injury state or best possible health condition.
Vocational Rehabilitation
Vocational rehabilitation benefits support employees who need to adapt to new roles due to their injuries. If an injury prevents an employee from returning to their previous job, these benefits cover the cost of retraining or skill development necessary for transitioning into a new position.
This aspect of workers’ compensation is vital for maintaining employment viability and helping workers reintegrate into the workforce. Vocational rehabilitation can include formal education courses, on-the-job training, and other resources to enhance employability in light of new physical or cognitive limitations.
Other Types of Workers’ Compensation Benefits:
Workers’ compensation supports affected employees and their families in catastrophic injuries or fatalities. This includes death and burial benefits, which offer financial relief to families dealing with the loss of a loved one due to a workplace incident.
These benefits aim to cover funeral expenses and provide ongoing financial support to dependents, reflecting the system’s role in offering workers and their families a safety net during the most challenging times. Such provisions emphasize the comprehensive nature of workers’ compensation in addressing all possible outcomes of workplace hazards.
Am I Eligible for Workers’ Compensation?
Who Qualifies?
In South Carolina, most hourly, salaried, full-time, part-time, or temporary workers are eligible for workers’ compensation. However, there are exceptions. Federal employees, railroad and agricultural workers, employees at businesses with fewer than four employees, and corporate officers may not be covered by standard workers’ compensation policies.
If you’re uncertain about your eligibility, it’s advisable to consult with a knowledgeable workers’ compensation attorney.
Who’s at Fault?
Workers’ compensation operates on a “no-fault” basis, meaning you can receive benefits regardless of who caused the injury—even if it was due to your negligence. However, injuries resulting from misconduct, such as roughhousing or alcohol use, generally do not qualify for coverage.
Eligibility hinges on whether the injury occurred while performing job-related duties. The injury must happen while working, regardless of the location.
For instance, if a salesperson is involved in a car accident while driving to a client meeting, they are performing work-related duties and would qualify for compensation. However, if the accident occurs while they are commuting home after the meeting, it is not considered work-related and thus not eligible for compensation.
What Are the Reporting and Claim Deadlines?
You must report the injury to your employer within 90 days, and your employer must file this report with the state workers’ compensation board within ten days. If they fail to do so, you can file directly with the board, but you must notify your employer first.
Furthermore, you have two years from the date of the injury to file a claim. Delaying the initial report can jeopardize your ability to claim, especially if medical conditions related to the injury develop later. Always file an accident report promptly to avoid potential issues with your claim.
Should I Settle a Workers’ Compensation Claim on My Own?
Deciding whether to settle a workers’ compensation claim is a significant choice that should be made with careful consideration. Settlements are common in workers’ compensation cases and entirely voluntary, meaning you and the insurer must agree to the terms.
Settlements are particularly worth considering if you have completed all necessary surgeries, hospitalizations, and significant treatments but can still not return to work. In such scenarios, consulting with a workers’ compensation attorney can be invaluable in helping you understand your options and the potential benefits of settling.
Most workers’ compensation settlements are known as compromise settlements. These agreements are reached through negotiations and require certain conditions to be met, including mutual agreement between the injured worker and the insurer that settling is in both parties’ best interests.
Additionally, at least six months should have passed since the worker received their last temporary total disability payment, although both parties can waive this requirement. Finally, a judge must approve the settlement, ensuring that the terms are fair and in compliance with legal standards.
While settlements can offer a quicker resolution and certainty of compensation, it’s important to ensure that the terms adequately address your needs and future considerations.
Secure Your Rights With Our South Carolina Workers’ Compensation Experts — Call Now!
Managing workers’ compensation claims requires a lawyer who has specific experience with such claims and a deep understanding of the relevant rules and deadlines.
Suppose you’ve attempted to file a claim independently and faced rejection by the South Carolina Workers’ Compensation Commission. In that case, it’s essential to know that options exist to obtain the compensation you deserve.
Our team of attorneys has successfully assisted numerous South Carolina in appealing their workers’ compensation claims, enabling them to secure the financial support necessary until they can return to work.
Reach out to the CEO Lawyer Personal Injury Law Firm today at (864) 664-3865 for a complimentary case evaluation. Discover new legal possibilities, and let us guide you to the compensation you deserve.
