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What happens when I settle my workers' compensation claim?

A settlement contract is a negotiated agreement between you and your employer where you agree to end legal proceedings in exchange for money. In Illinois, your Lump Sum Settlement Contract must be approved by the Arbitrator handling your case.

Generally, you never want to settle your workers' compensation claim until you are at maximum medical improvement. It is always advisable to consult with a workers' compensation attorney to determine the value of your claim. If you do try to settle the claim on your own, it is likely you will not be receiving the full value for your injuries. There are typically four types of benefits that you should be aware of, and the effects of settling your claim.

If you were off work as a result of your injuries, you should evaluate whether you received the proper amount of Temporary Total Disability (TTD) benefits. Your employer is also responsible for any necessary medical treatment related to your work injury and therefore must pay for those expenses. The final two types of benefits are mostly in dispute; your right to receive a Permanent Partial Disability (PPD) award for permanent injuries and payment for future medical expenses. Because each claim is unique and varies according to the employee's wages received and injuries he/she sustained, always consult with a workers' compensation attorney to determine maximum value of your PPD award.

Finally, your right to receive future medical expenses if you need to see a doctor because of your injuries will depend on the prognosis given by your treating physicians. The effects of signing a lump sum settlement contract generally close off your right to receive future benefits including medical treatment as a result of your injuries. It is unlikely an insurance company will offer a settlement and agree to pay for any future medical care you need. The only way to secure future medical expenses is to go to trial and obtain an award.

The final effect of entering into a settlement contract for your workers' comp claim is that it will close off your right to future benefits for injuries you sustained as a result of your work incident. In order to ensure you receive the proper amount of compensation which you are entitled, please give our office a call for a free legal consultation.

The attorneys at Law Offices of Mathys & Schneid are committed to representing people who have been seriously injured and incur significant medical expenses as a result of work related injuries. Law Offices of Mathys & Schneid continue to handle workers' compensation claims and all types of other personal injury cases in Cook, DuPage, Kane, Will and Kendall Counties and all throughout the Chicagoland area.

  1. "Committed To My Cause"

    I was struck by a car while cycling and severely, almost fatally injured. A team of excellent medical professionals performed complicated and extensive surgical and medical procedures as part of a successful effort to restore my health....
    -Jeff D.

  2. "Could not have made a better choice"

    We found Mark [Mathys] through the web after an auto accident in October 2011. While selecting someone you don't know to represent you can be a gamble, we could not have made a better choice....
    - Dave

  3. "Very satisfied"

    Mark [Mathys] is very professional. He responds almost immediately, via email, to any question, comment or concern I have and if he is not able to respond right away, he will let me know. I have been very satisfied with Mark so far and I am happy to be his client.
    -Jennifer

  4. "Easy to talk to"

    Mr. Mathys and Mr. Schneid were very professional and easy to talk to. Prior to working with them, my wife and I had no real experience with the legal system beyond a house closing, yet Mr. Mathys and Mr. Schneid explained the whole process to us very well. I knew that whenever I had a concern about our case or the legal system in general I could call their office or send an email and receive answers the same day... -Larry

  5. "Provided very wise advice"

    I've dealt with attorneys on a variety of issues, almost all of them since leaving college and entering the workplace. Mr. Mathys was the first attorney I had any real experience with, and I was impressed then and remain so. He provided very wise advice and always kept me informed. In the end, he delivered a favorable result. I recommend him highly.
    - Tyler D.

  6. "In-depth knowledge of the law"

    Mark [Schneid] is an excellent and skilled attorney and demonstrated in-depth knowledge of the law when he helped settle my dog bite lawsuit resulting from a traumatic incident. He explained what was needed of me and how I should handle the situation in a professional manner.
    - Karen K.

  7. "They went to bat for me"

    Not long ago I was involved in a car accident where I was hit by a gravel truck at an intersection. After I called Mathys & Schneid, even though I didn't have a very large case, they made me feel like I was one of their most important cases. They went to bat for me with the trucking company's insurance and got me a settlement. I would definitely recommend them to my family and friends. -Dan H.

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