How Much Can You Get for a Workers’ Compensation Claim in 2024?
Workers’ compensation in Vermont is an insurance program that provides benefits to employees who suffer job-related injuries or illnesses. This insurance program covers both full-time and part-time employees. In Vermont, workers’ compensation benefits typically include medical expenses, wage replacement benefits, compensation for disabilities, and vocational rehabilitation benefits. If you recently suffered a job-related injury or illness and are planning on pursuing workers’ compensation benefits, you may be wondering what the average settlement for a workers’ compensation claim is in 2024.
What Is the Average Workers’ Compensation Settlement Amount in 2024?
There is no average workers’ compensation settlement amount. Determining an average workers’ compensation settlement amount is challenging because of the many variables involved in these cases. Workers’ compensation settlement amounts can vary significantly depending on the factors surrounding each case. How much you can get for a workers’ compensation claim in 2024 depends on the specifics of your case.
Factors That Can Impact the Value of Your Workers’ Compensation Claim
Several factors can impact the outcome of your workers’ compensation case. The following are some of the factors that can significantly impact the value of your workers’ compensation claim;
The Extent and Seriousness of the Injury or Illness
The extent and severity of your injury or illness are crucial in determining how much workers’ compensation benefits you are entitled to. The general rule is that the more serious the injury or illness, the higher the settlement. For example, a back injury leading to paralysis will most likely yield a higher settlement than a minor sprain. Severe injuries and illnesses tend to yield a higher settlement because they require extensive medical treatment, resulting in substantial medical expenses. A severe injury or disease may also affect your ability to work in the future, thus increasing the value of your claim.
State Laws and Regulations
State laws and regulations can affect the amount of workers’ compensation benefits you recover. For example, temporary total disability (TTD) benefits, which are awarded to employees who cannot work due to their job-related injuries or illnesses, amount to two-thirds of the employee’s average weekly wage, subject to a maximum and minimum cap.
Legal Representation
Whether or not you have a workers’ compensation lawyer can impact how much workers’ compensation benefits you get. Having an attorney can result in you recovering more compensation than if you didn’t have an attorney. A skilled workers’ compensation attorney can help gather and compile relevant evidence to support your claim. They can negotiate with the insurance company or your employer to ensure you receive fair compensation.
Contact Us for Legal Help
If you’ve suffered a work-related injury or illness, our qualified Vermont workers’ compensation attorney at Sluka Law PLC is here to help. Contact us today to schedule a consultation.
