Workers’ Compensation and Structured Settlements

At Harris Guidi Rosner, P.A. we are available to discuss with you if a structured settlement would be beneficial for you to consider regarding your workers’ compensation claim. There are many good reasons for an injured worker to consider using a structured settlement and it is best to start this conversation with your lawyer in advance of any mediation in your case or any formal settlement discussions if this is an option that appeals to you.

Structured settlements often fit best with the following types of workers’ compensation cases:

Death Claims
Catastrophic Claims
Permanent Total Disability Claims
Traumatic Brain Injuries
Amputations
Multiple, serious work claims
Vision and hearing loss claims
Spinal Cord Injuries

The benefits of structured settlements in workers’ compensation can include:

There are significant tax benefits. Structured settlement payments are tax-exempt at both the state and federal levels. The appeal for many injured workers is that a structured settlement can provide a steady, predictable tax-free income over time rather than a single lump sum payment.
Structured settlements can be specifically individualized to your needs. There are options you can explore with a structured settlement specialist as payments can be made monthly or annually, or at other specific intervals. The payment amounts per period can be fixed or they can be adjusted over time, depending on your anticipated needs.
For many injured workers, the greatest appeal is the stability and security of a structured settlement as the injured worker does not have to make a single payment last a lifetime.
Structured settlements offer protection of the injured workers’ capital as the funds are not based on the ebb and flow of an unpredictable economy. Structured settlements are funded with annuities from United States Treasury obligations and from major life insurance companies.
Structured settlements are common in claims requiring Medicare Set Asides (MSA). This will assist in ensuring your adherence to Centers for Medicare and Medicaid Services guidelines and the avoidance of penalties and fines, if your case is one that requires a MSA.
Your attorney can introduce you to a skilled specialist in the structured settlement process at no charge to you in advance of mediation or settlement discussions, for you to start exploring your options. A structured settlement professional can attend settlement conferences with you and your attorney, create proposals and investment comparisons and answer any questions you may have about the financial security of the insurance companies involved. New plans can be revised and created as is necessary and wanted during the negotiations process, to fit your needs.

If you would like to explore using a structured settlement in your case, or have other questions about your workers’ compensation injury, contact our workers’ compensation department at Harris Guidi Rosner, P.A. for a free consultation at (904) 777-7777. If you are wheelchair-bound and cannot drive, or have other limits on your transportation, call us and we can offer a roundtrip Uber to your initial consultation. Lastly, if email if more convenient for you, email us at mills@harrisguidi.com to schedule an initial consultation regarding your work accident and to discuss your legal rights.

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Kendall Mills

A Florida native, Kendall has been a Workers' Compensation Attorney for over 17 years. She is an attorney with the Jacksonville Law Firm of Harris Guidi Rosner, P.A.. Kendall has lectured at numerous seminars, including continuing education classes for workers’ compensation claims professionals and she is certified by the Florida Department of Insurance as an instructor in Florida Workers’ Compensation.
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