It is alarming how many people make ignorant statements about workers compensation. Workers compensation is not now nor has it ever been a retirement fund. It is an insurance policy. An insurance policy is supposed to pay out when there is a legitimate claim made. A retirement fund is when a person works until they get to an age they choose to retire, all the time contributing and building up their retirement funds.
Injured workers do not have that option. They no longer have the option of improving their financial status or working a second job if they need or choose to do so. It is a fact that 80% of the cases go right through the comp system with no problem. Those are the minor injuries. . One place in South Dakota at a 10% PTD rate and another places it at a 5% PTD rate. Both statistics were projections and not actual real numbers. Half of those are on PTD had a prognosis that most likely would have allowed them to go back to work had they received the timely medical treatment guaranteed them by law. Only those who are on PTD get permanent funds. It would really like to be able to find a statistic on how many PTD cases are settled out but so far they have been unable to. I am sure it is not kept by anyone because that would be a statistic that insurers could be held accountable with. Those kind of statistics for the most part are not kept. And where is the statistic saying how much the carrier saved by settling out that case if the injured worker lived to the normal life expectancy? And how about a statistic that shows how much the injured workers that are PTD loose when they agree to these settlements.
Workers compensation was set up for exactly what it is being used for, at least when we are able to get it. That is to pay injured workers medical and indemnity benefits for temporary or permanent injuries. Insurers pay out much less than they would if you were injured in any other capacity other than as an employee. The funny thing is most of us would not sue at all if the carriers would just do the right thing to begin with.
When injured workers become PTD they are no longer able to work or have any control over their income. They can no longer contribute to their Social Security Fund. Those injured workers and their families who were insured through their employers, loose their medical benefits and have to pay exorbitant premiums if they can afford it. I know that the premiums that come out of the injured workers salary are figured into the average weekly wage in most cases, but that does not include the amount of the discount an employer gets based on the number of employees. A policy outside of work is usually much higher. Most injured workers that are PTD can't even get themselves insured in most cases unless they are under one of the state or federal programs. Often insurers will not cover them because they are PTD.
When you stop contributing to your Social Security Fund the amount you would have received at retirement is lowered. You start loosing money for every day you are out of work. The amount you would have received at retirement is much less than it would be if you had been able to work and build up that fund the way you wanted to before retirement. Most injured workers that are PTD can no longer afford to contribute to their 401K and in most cases the injured workers have to take their money out of their 401K to live on while they are having to go through the denials and delays the insurers are allowed to starve you out with. Are some of our lawmakers saying that injured workers should have to live at just above or below the poverty level just because they had an accident at work? That just because of our accident we are no longer eligible to live expecting enough money to support our medical needs and our families? Is that what they are really saying? Most of us already live way below our living standard that we had at the time of our injury.
Thank you for choosing Lawcore.com!
Mesothelioma is one of the most deadly forms of cancer known to man. It is caused almost exclusively by exposure to asbestos - Find information on choosing a mesothelioma lawyer, the various types of mesothelioma, other illnesses caused by exposure to asbestos (namely Lung Cancer & Asbestosis), and more.
Yamaha Rhino ATV Rollovers & Accidents have been shown to cause serious injuries, including amputations, multiple surgeries, and even death. If you have been involved in a Rhino ATV accident and would like to learn more about a Yamaha Rhino Lawsuit or how to contact an ATV Accident Lawyer, click above for more information.
Exposure to Benzene is known to cause a form of leukemia, Acute Myelogenous Leukemia or AML - Find information on benzene exposure, the side effects, choosing a benzene attorney, & how to get compensation if you have been injured or lost a loved one to Benzene exposure.
Have you been injured in an Auto Accident? Find a wealth of information on claims for injuries (Or even death) sustained in a car accident, car accident lawyers, statistics on auto accidents, insurance claim details, & how to reveive compensation for your damages.
Related Resources:
Truck Accident Lawyers
Motorcycle Accident Lawyers
DUI / DWI Lawyers