In Regards To Workers Compensation, What Exactly Is A Lump Sum Payment?

by admin on May 9, 2012

A compromise and release, otherwise known as a lump sum payment, is a one-time payment that replaces your weekly workers’ compensation checks, medical expense, or both in some cases. According to Pennsylvania law, one is able to receive a lump sum payment only if they have been off employment for over four months as a direct result of a work-related injury.

If you accept a settlement for a lump sum, you can either get the payment in one large sum or periodically through an annuity-like structure. Accepting a lump sum will terminate your weekly and bi-weekly workers’ compensation checks.

It’s essential to make sure that the lump sum settlement that you will be receiving can adequately pay for your injury and subsequent needs, because you won’t be receiving anymore wage loss benefits. If you accept a lump sum settlement for medical care, than you should know that you won’t receive any more money after the funds from the lump sum settlement are gone.

If you are considering a lump sum settlement, it is crucial that you hire an experienced and knowledgeable Harrisburg workers’ compensation attorney so that you can receive the payment that your injuries have entitled you to.

For more information or help with your Pennsylvania Workers Compensation case, you can call Calhoon & Associates at 877-291-9675.

Previous post:

Next post:

Home | How We Can Help You | About Us | Your Team | Our Results | What Others Say | FAQs | More Information | Contact Us
2411 North Front Street
Harrisburg, PA 17110
Phone: 717-695-4722
Toll Free: 877-291-WORK (9675)
  14 North Main Street
Chambersburg, PA 17201