The Pennsylvania workers’ compensation law provides that if you have suffered a work related injury, it is possible that you may be entitled to receive a “lump sum settlement”. This also can be referred to as a “compromise and release”, which is a one time payment that can replace the hassle of dealing with weekly workers’ compensation checks.
The lump sum settlement may be a great avenue for people looking to get back on their feet after being out of work for a significant period of time. Many people use this one time payment to pay bills and expenses which have accumulated due to only receiving a weekly check.
If you do decide to accept a lump sum settlement it is imperative that you speak with an attorney before making your decision. There are many gray areas in the workers’ compensation process which could leave you without receiving owed monies or paying out of pocket for medical
expenses. You must remember that once you accept a settlement you can not go back for money even if you still can’t work. It is also possible to receive a lump sum settlement for your medical expenses however, if you require more medical attention and the lump sum provided was spent, you can not re-open your claim. We highly recommend you speak to an attorney before deciding on a lump sum for medical expenses.
Your situation most likely needs to be reviewed to determine if it is in your best interest to receive a lump sum payment. It is important to keep in mind that receiving a settlement can end your worries of having future benefits reduced or taken away. Once agreed, Pennsylvania workers’ compensation does not owe you another dime thereafter. For this specific reason you should look to contact the team of experienced workers’ compensation attorneys at Michael J. O’Connor & Associates. Call us for a free consultation and review of your case at 1-(800) 518-4LAW or visit our website www.OConnorLaw.com. Offices located Frackville, Allentown, Bala Cynwyd, Bloomsburg, Hazleton, Lancaster, Pittsburgh, Reading, Scranton, Stroudsburg, Sunbury, Wilkes-Barre, and Williamsport.