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Question

Submitted 660 days ago...

Vivian

Vivian

New User (1)

Worker compensation settlement

I had back injury in my work place in 1999. I was paid by my insurance to have chiropractic treatment since then. I have treatment once a month and it costs around $250 covered by the insurance.
Now the insurance company wants to offer me $10,000 to settle the case. And they said if I don't satisfy this amount I can make a counter offer. I consult my chiropractist and he wants me to continue the treatments. I think he does not want to lose a client. So, my questions is, if I want to settle the case , how much should I counter offer in order to max my benifit? Is there any rule or formula that is set by the insurance company to pay for the settlement?

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Answer 1 / 2 - Submitted 246 days ago...

DaliaPierce

DaliaPierce

Beginner (47)

It depends on your state.

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Answer 2 / 2 - Submitted 246 days ago...

Trove882

Trove882

Brain (2,222)

You have been receiving treatment since 1999 at a cost of 12x250=$3000 per year, a total cost to the insurance company of $30,000. Depending on your age, this could go on for another 20 years until you are age 65 (retired). I would think the insurance company would be willing to double or triple their offer to get rid of you, don't you. Why don't you ask for $25,000 and settle for $15,000. Be prepared to write them a letter, politely explaining why your proposed amount is reasonable. Or you could consult an agent that deals with insurance company's on the client's behalf, an insurance adjuster. These people will charge a commission, but will have more specific ideas of what they can get for you, and will negotiate on your behalf.


This answer was edited by Trove882 246 days ago.

Reason: spelling

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Worker compensation settlement

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