In the state of New Jersey, companies with one or more employees are required to carry workers' compensation insurance. This insurance coverage will provide benefits to an employee in the event that they suffer a work-related illness or injury.
There are millions of workers' comp claims filed each year. It's important to understand how the NJ workers comp system works, especially if you are in the midst of coming to an agreement on a workers comp settlement. While this article will help explain this topic further, it would be beneficial to consult with an experienced workers comp lawyer about your specific case.
Brandon J. Broderick, Attorney At Law has assisted thousands with work injuries claims in New Jersey and helped negotiate favorable workers comp settlements. If you are in need, please reach out to us for help.
Settlements In NJ Workers Comp Cases
You may be wondering if all workers' compensation claims in New Jersey result in a settlement. The short answer is no, although the majority do.
New Jersey's workers' compensation system is set up to make sure that employees receive benefits in a timely manner due to it following the state's no fault rules. No evidence is needed to receive workers compensation. Benefits will cover all accident-related medical expenses, together with temporary disability benefits (if a physician certifies that you are temporarily totally disabled) and a monetary amount for whatever function you have lost as a result of your injuries.
A workers' compensation settlement can sometimes be in your best interest. In the unlikely event that you must appear in court, assembling a case and negotiations should be handled by a workers comp lawyers.
How Does A Workers Comp Settlement Work?
Employers and employees are both protected by NJ workers' compensation insurance. An employee does not need to prove the employer's negligence in order to seek compensation for medical care, lost wages, and disability if they are hurt on the job. For an employer, it allows them to avoid expensive claims.
Three requirements are needed in order to be eligible for workers' compensation benefits:
- Employers are required to carry workers' compensation insurance
- You must be classified as an employee
- Your injury or illness must be related to your job
While you have a two-year statute of limitations from the date of accident to file a workers comp claim, we advise you to file as soon as you can.
Settlement Types
In New Jersey, there are two different kinds of workers' compensation settlements: Section 20 and Section 22. Section 20 settlements aren't always the best option. This lump sum payment is frequently accepted in lieu of a trial by your employer's insurance provider, who has either rejected your claim or contested some aspects of it.
Even if your illness or injury worsens, you will not be eligible to receive benefits from a Section 20 settlement beyond the entire and final lump sum. Additionally, your employer does not admit to any liability. A Section 20 settlement is not available if your claim is approved by the insurance provider.
Section 22 is most of workers' compensation settlements. You will come to an agreement about your permanent disability rating (temporary total disability, permanent total disability, or permanent partial disability) with a Section 22 settlement. The insurance provider will provide benefit payments in equal installments. If your condition changes within two years of the last payment, this settlement can be adjusted to reflect those changes.
Length of Time Workers Comp Settlements Take
This length of tie can vary from a few weeks to several years. Reaching a settlement is usually a lot quicker than filing a lawsuit. However, the longer a workers' compensation case takes, the higher the payout may be on occasion.
Delays in workers' compensation settlements occur when:
- Your claim is disputed by your employer or their insurance provider
- A second medical opinion is necessary because your disability rating is in question
- It's unclear when you will reach your maximum medical improvement (MMI)
When you have recovered as much as possible and no longer need medical attention because it won't make your condition better, you have reached maximum medical improvement. This could indicate that your injuries have completely healed. It might also imply that you won't ever totally recover. If so, you might be qualified for additional benefits. In these situations, you should consult with a lawyer.
Reach Out to the Workers Comp Lawyers of Brandon J. Broderick
In workers' compensation disputes in New Jersey and the surrounding states, we are committed to defending our clients and their rights. With years of experience, Brandon J. Broderick, Attorney at Law, can help you get the compensation you are entitled to, allowing you to move past your injuries and resume your life.
Give us a call to schedule a free consultation right now.