Lots of factors must be considered before a settlement is awarded in a New York workers’ compensation law case. Expect each case to include its own unique details and yield different outcomes. That said, there are a few ways to estimate workers’ comp settlement amounts.
First, here are a few details to keep in mind:
Workers’ comp cash benefits cover the amount of lost wages due to the disability. However, unless the disability causes you to miss 14 days or more, no benefits are given for the first seven days. Medical care is available despite the disability’s timeframe.
In addition, no matter which of the following formulas apply to you, the State of New York does have a cash benefits weekly maximum, which is adjusted for inflation each year. In 2017, this maximum is $864.32.
Ways to Calculate
Full Disability
50 Percent Disabled
Other Partial Disability
A physician might conclude you’re dealing with a partial disability, but it’s not quite as neat as 50 percent. In this case, you simply substitute .50 for the medical professional’s assessment. For example, you could be 75 percent disabled, in which case the formula would be:
These are just a few examples of common calculations that could come in handy. However, in other situations, you might end up dealing with more complicated circumstances. For example, your ability to earn income could be permanently hampered by an injury to a specific body part. You’ll want to rely on workers’ compensation law professionals to help guide you to a fair settlement.
