Worker's Compensation Case?

Workers' Compensation Pre-Settlement Funding

Getting injured on the job is an all too common occurrence, and these injuries can be life-changing. Around 3 million workers in the United States are injured or become sick due to job-related causes each year, according to the Bureau of Labor Statistics. Workers' compensation is required of employers in most cases, and it protects workers' incomes in the event of work-related injuries, illnesses, or deaths. Each state has specific requirements that govern workers' compensation, but most offer coverage of medical costs and income loss for covered workers. For some injuries, workers can also seek permanent impairment settlements, and workers awaiting these settlements may qualify for pre-settlement workers' compensation funding.

Pre-Settlement Funding for Workers' Compensation Claims

Employers reported around 3.2 cases of nonfatal workplace injuries and illnesses per every 100 workers in 2014 across a range of industries. Many of these injuries were minor and non-life-threatening. Others were more serious, leading to impairments that are permanent and that affect the worker's future capacity to earn a living. In those cases, a permanent impairment rating is determined, and the plaintiff can seek out a settlement for the impairment. Because of the variation in the way that workers' compensation programs are administered from state to state, some states may take a loss-of-earnings-capacity or wage-loss approach to determining impairment. Regardless, in cases where monetary awards are anticipated, workers' compensation pre-settlement funding can provide a needed source of funds while claimants await the bureaucratic red tape involved in settling workers' compensation claims.

Access Fast Workers' Compensation Pre-Settlement Funding

When you apply for workers' compensation pre-settlement funding, an underwriter examines your case to determine Buckeye Legal Funding's ability to advance on your case. If you are approved for funding, then you receive a cash advance against the proceeds of the settlement to do with as you wish. When your case is settled, you repay the advance. If it is does not come to fruition, you do not repay the advance.

How Much Can You Receive Through Workers' Compensation Pre-Settlement Funding?

The amount of an advance for workers' compensation pre-settlement funding you can qualify for depends on a variety of factors including the percentage of permanent impairment you're left with after your injury. Doctors working with workers' compensation use American Medical Association Guidelines to determine the significance of your work-related injury or illness. 

With the average duration of workers' compensation claims lasting 15.7 months to as long as 18.2 months for permanent disability claims, workers' compensation pre-settlement funding is a viable solution for many injured workers. Learn how Buckeye Legal Funding can help you keep your finances on track as you await a decision on your case with workers' compensation pre-settlement funding.