My answer to them depends on their stage of recovery:
The decision to negotiate a cash settlement of your workers’ comp case depends on a few factors, including the severity of your injuries, your permanent limitations, and your need for ongoing treatment.
When your injury has stabilized, we will make a settlement demand to the insurance company for a cash lump sum to settle your case. Generally this leads to negotiations including the insurance company’s offers of settlement, and counter demands by our office.
If the insurance company arrives at a cash offer which is fair and adequate, it may be worth settling sooner rather than having your case stuck for many months or years in the workers’ comp system, where insurance companies make it difficult to get satisfactory medical care.
On the other hand if the insurance company is not being fair to you, and is denying much needed treatment or other benefits, it may be worth it to set your case for a hearing or trial before the Workers’ Compensation Appeals Board.
Generally, before considering a settlement offer, it’s best to wait until your medical condition has stabilized and reached “Maximum Medical Improvement”, also known “Permanent and Stationary” status.
Until then, we can estimate or predict the cash value of your case. But once your doctor says that you won’t improve any further, even with more treatment, the doctor will decide to what extent your injury has caused you permanent limitations, and what your need for future medical care is. At that point, using the doctor’s final report and your entire medical file we can realistically evaluate and maximize the cash value of your case.