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What is a lump sum settlement?
Oftentimes when you're injured and you have a workers compensation claim
you're going to get your medical bills paid and then eventually
when you're either finished treating for the claim
or you've decided that you want to go on with your life in another
avenue, you're going to want to try to settle the claim, so what we try to do
is to obtain a lump sum settlement.
The lump sum settlement, there's no magic formula but the important thing
is to make sure that you received adequate compensation,
that you understand the formula for how the employer calculates the value
of the workers compensation claim, and often if it's a very serious
injury there's something called a medicare set-aside
that involves payment of monies to the federal government
for future medical bills. A lump sum settlement is often a complicated situation
and your best bet is to talk to an attorney
to understand all your legal rights, and I suggest that you order our book The
Ohio Work Injury Book,
and we talk about the concept of the lump sum settlement.
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