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Stipulation and Award
#1
Is there a minimum settlement amount allowed for Stipulation and Award?
Looking for answers.
I was reading that this type of settlement is recommended for large amounts, but is it wise for a small wc settlement?
 
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#2
generally a stipulation and award is used when there is little or no difference/dispute about the PD rating and the worker prefers open medical coverage for the injury. it's used equally on large and small claims. it avoids the uncertainties of a trial or hearing and gives maximum protection for the greatest unknown- future treatment needs.
many attys are cool towards it because their fee is only based on the PD and not the combined and larger amount of a total buyout of both PD & future Medical.
experiences may vary in different jurisdictions.
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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#3
Thank you so much for taking the time to answer this most important question.
Presently my attorney wants me to settle. I just filed for SSDI and I am waiting for their decision. He is processing the paper work to find out how much would need to be Medicare Set Aside and approval from CMS.
My concern is SSDI would offset MSA and whatever I was left out of the lump sum settlement if anything that there would be nothing left for me to live on monthly. So I have been trying to find answers on the internet and stumbled across stipulation and award on an attorney's website where he stated this was the best plan and in my best interest. He only related this to large lump sums though such as 250,000 and above.
So you answered my question but of course I am concerned that my attorney is NOT going to be happy with my decision as please correct me if I am wrong but at this point it looks like it would be in my best interest to have open medical coverage and stipulation and award?
My attorney says I will get less money now because I filed SSDI before the Insurance Company said now they are willing to settle. He said if I had not filed SSDI I would get the full lump sum and SSDI would never have offset my settlement. Needless to say on top of pain it is hard to make sound wise decisions when your brain is befuddled with pain. So any advice would be greatly appreciated.
 
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#4
I don't know enough about your claim to recommend a particular type of finalization especially since each jurisdiction has different benefits and rules.
unless you are totally disabled the settlement amount would rarely be enough to live on without sacrificing adequate treatment.
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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#5
I have come to realize this. I am not able to work, thus the reason for filing for SSDI. I would if I could.
I have spent a lot of time in prayer today while trying to find answers on line.
I am thankful to this site to be able to find some answers. Smile
 
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