There are a number of factors that go into how your workers comp settlement is calculated. Chief among them are the potential future medical expenses and potential comp you may receive. This is really the driving force behind how much your employer and the BWC may offer you to settle your case.
A common misconception is that the longer you have been off work, the more you will receive from a possible settlement. That’s not how the BWC settlements work, unfortunately. You can look at your BWC claim as a balloon. When your claim is allowed you are given a balloon, that balloon is filled with air. As compensation is paid out in the form of temporary total disability compensation, air is removed. As medical treatment is made and paid out through the claim, air is removed from the balloon.
So if you are near the end of the claim and it doesn’t look like any more medical treatment or compensation is forthcoming, the workers comp settlement value of your claim may be low. Now on the other hand if you possibly have medical treatment pending like surgery or you may be found permanently and totally disabled, then you still have a significant amount of air left in your balloon. The more construct the future comp and medical, the more value your claim may be.
Columbus work injury lawyer Kip Malek discusses in greater detail how to calculate your workers comp settlement in the following video: