Lump Sum Settlements
The most dangerous decision in your claim

A lump sum settlement closes your BWC claim permanently and forever. Once settled, you are solely responsible for all future medical costs related to injury relapses and any inability to work caused by that injury. There is no going back. If you are 62 1/2 years of age at the time of settlement or are on SSD, SSR, or Medicare you have to be aware that a portion of any settlement will be allocated to a Medicare Set-Aside Account in order to protect Medicare from being responsible for medical & prescription bills related to allowed, but settled, Ohio BWC claim conditions. Because settlement language directly affects your Social Security Disability benefits, Mike co-counsels with a Social Security disability law firm to ensure both your workers’ comp settlement and your SSDI claim are properly coordinated.

Employers and the BWC often push for quick settlements — it saves them money and eliminates their long-term liability. A fast cash offer can feel attractive when you are struggling. But that offer is almost certainly a fraction of the true lifetime value of your claim.