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SSDI offset
#11
Maybe I should have added one of the guys I worked with who got injured returned to full duty after his back injury and his settlement was only $45,000 less then what they are offering. Now yes he has no open medical but really should not need it since he returned to full duty.

I do understand my lawyer does not want to go to court if he doesn't have to. And we have come a long way. Back in 2010 their lawyer told mine they did not want to settle my case and wanted to just keep paying me.
 
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#12
(12-30-2014, 11:06 AM)1171 Wrote: the maximum weekly payment rate is the same for TTD & PTD
http://www.iwcc.il.gov/benefits.htm
PTD however allows for an annual cost of living adjustment:

Lawyer called today and again said it's dollar for dollar so I called SS and they said no it isn't but there is a percent they take off. Decided to call a lawyer friend who does WC and talk with him. He said yes I will lose some SSDI if I get a PTD weekly check but not sure how much. Also say he would take it to court because he feels the amount is too low and he doesn't see why I wouldn't win. If he was my lawyer he would take it to court. Go sit down with my lawyer in a couple of days. They have to go before the ILWCC on Monday to settle it or get a hearing date for later next week
 
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#13
Guess I need to talk to a good SS lawyer to find out what I would lose in SSDI if they award PTD. I know my lawyer wants to settle and I don't know what they want to really do. Right now I'm thinking go to hearing and see what happens, I still feel I'd get a good deal more in the long run with PTD. Since my meds alone are running them $16,000 a year I want to live a nice long life. So far my total medical for the last 9 years has been just short of $500,000 and they saved a little under $100,000 that got written off because of how they did it so a nice long life is not going to be cheap for them at all. Like to know what they have spent having me followed so much and just fighting my case. I know the 2 IME's and depos ran them over $10,000. Kind of makes me feel better when I think what it has cost them but it sure doesn't make up for what I have lost in my health and for the pain and suffering
 
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#14
Well I guess we are going to settle but I'm not real happy. For one since this is going to have open medical I'm still tied to them, wish the tie was cut completely so I didnt have to deal with them any more. I know the settlement is tax free but I sure wish if I put the money in the bank the income from it was tax free as well. Going to have to see how much we will lose in SSDI because I know even with the spread wording I'm pretty sure it will cut into SSDI. Pretty sure we are going to have to do something extra for income down the road to survive. Going to need to push for something to get me better relief from the pain.
 
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#15
you can have the carrier purchase an annuity for you with the settlement amount. all the proceeds from the purchase i.e. your payments are tax free.
however with interest rates this low the advantages to you as far as the amount of payments is not great.
it's called a structured settlement.
generally they are used for large settlements.
you can customize the payout schedule to include an inflation clause, guaranteed number of payments regardless of your life status, periodic lump sums, etc.
I'm sure you can find more information on the options with a little research....
Reminder :
........Each state has their own comp system; POST YOUR STATE to get accurate information. Use the search feature to find information from similar questions.
THANKS FOR POSTING.
 
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