PA, How much to Ask for settlement? - Printable Version
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PA, How much to Ask for settlement? - pittpanthers2201 - 05-19-2012 04:51 PM
Ok, quick background, 31 year old male, blew out my left knee in 2007 at work. Have had 7 knee surgeries so far, and plenty more to come with the final result being a total knee replacement in the future. My lawyer wants to see if he can settle the case, and asked me to fill out a form telling him how much I would like to get. I have no clue what to ask for, right now they pay me about 20K yearly.
RE: PA, How much to Ask for settlement? - jayne - 05-19-2012 05:06 PM
you settle out medical now your lawyer has a fool for a cliant.....
RE: PA, How much to Ask for settlement? - pittpanthers2201 - 05-19-2012 05:40 PM
I wouldn't settle out medical unless the amount was an outrageous number, but what should I be looking for settling the payments for, I have been collecting bi-weekly paycheck from them for about 3 years straight now.
RE: PA, How much to Ask for settlement? - jayne - 05-19-2012 06:51 PM
what does your lawyer say? you should ask Timothy Belt on here he is a Pa lawyer and would be able to give you a better answer than any of us...
RE: PA, How much to Ask for settlement? - Bummer Knees - 05-19-2012 07:43 PM
I do not know how your state works but in Kansas we are rated according tot the AMA Guidelines.
I have always been told if a total knee replacement is needed then do not settle until after the knee replacement. Two reasons, it is difficult to get the insurance company to pay for a replacement after settlement even with open medical and two, the settlement amount is much higher after the knee replacement.
RE: PA, How much to Ask for settlement? - AQA - 05-19-2012 10:16 PM
You have asked a question that is best answered by your attorney.
The second best guess would come Timothy Belt ( as mentioned earlier ). That is still going to be a guess.
The only advice I have is to shoot for the moon. If you request an amount that is low. The IC may bite and game over. If you choose a number that is two high. Then the IC will ignore it or make a counter offer.
In situations like this, I always want the IC to make the first more. Why not ask your attorney to request an offer from the IC.
Then you will know if they are interested and if so. Then the ball is in your court.
Just my thoughts.
RE: PA, How much to Ask for settlement? - Frank Lafferty - 05-21-2012 11:51 AM
Have you had an Impairment Rating Evaluation performed? If so, when and what was your percentage of whole body impairment? This can greatly impact the overall dollars because it will cap the exposure the IC is facing regarding your indemnity payments. Depending on the IC you are dealing with, an indemnity only Compromise and Release may not be an option (many will insist on a Full C & R, only to undervalue your claim). As many have said, your attorney should be able to give you the best case scenario regarding the specifics of your case and the possibility of settlement. Some cases can be very difficult, if not impossible, to resolve because of the uncertainty of future medical benefits needed.
RE: PA, How much to Ask for settlement? - jayc123 - 05-22-2012 03:12 PM
It sounds to me like your lawyer wants to end it. He shouldve asked you if it was ok for him to ask for a settlement offer first.he's seeing how low you will go
RE: PA, How much to Ask for settlement? - Timothy Belt - 05-23-2012 02:21 PM
Frank is a good lawyer and normally I agree with him; however, since PA does not have a formula that utilizes ratings like other states, in my humble opinion, the IRE means nothing unless the disability rating is at or above 50% or you have received several years of wage loss after the carrier obtains a right to have an IRE. Again in my experience and pursuant to the statistics maintained by PA, most cases settle out in the range of 3-5 years of temporary total disability wage loss benefits. However, as Frank pointed out, the carrier usually wants to make a clean break and settle wage loss and medical. If they agree to settle your wage loss only, this will reduce your overall settlement value.
Finally, all of the above is me shooting from the hip based upon a few lines on a WC forum. Your lawyer has reviewed your entire file and would be the best source for this information. I would therefore suggest that you request a letter setting forth what he believes to be the strengths anweaknesseses of your case and where he would value your case for settlement purposes. If you agree with his assessment, that is your answer.
RE: PA, How much to Ask for settlement? - pittpanthers2201 - 05-25-2012 02:22 PM
I would like to thank everyone for their answers, I called my lawyer and told him I did not know what to write on the form, so he scheduled a telephone conference for next week to discuss everything. Thanks again for all of your help.