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Is the Money Paid by a Workers’ Compensation Claim Really That Bad?
To us, workers’ comp payouts for serious injuries can be described in one word: appalling.
A worker whose employer carries workers’ comp typically receives only about 70% of their lost wages, and even that is capped at a maximum weekly amount set by the state and tied to the statewide average weekly wage. Those temporary income benefits are also time-limited — they generally last only until you reach maximum medical improvement, or up to 104 weeks, whichever comes first. So a carpenter earning $70,000 a year who suffers a serious on-the-job injury receives only a fraction of his usual paycheck while he recovers, and those benefits won’t last indefinitely. With so little coming in, he’d better recover quickly. You can learn more about our San Antonio work injury lawyers here.
There’s another glaring problem for employees on workers’ comp: the benefits don’t account for the true value of lost future earning capacity. If you suffer a long-term disability and can’t return to work, workers’ comp offers only limited impairment and supplemental income benefits — a small fraction of what you actually would have earned over a full career. You might receive an additional lump sum for a permanent impairment, but that amount is insignificant next to a lifetime of lost income.
For some, it gets even worse. Say you work evenings at a warehouse while working your way through graduate school by day to become a CPA. You suffer a serious spinal injury on the job and can no longer work or continue your education. Workers’ comp bases your benefits on your warehouse wages — not on the accountant’s salary you were about to earn. Since a CPA can earn many times a warehouse worker’s pay, you lose an enormous amount of potential income, easily seven figures over a career. This is where the insurance companies behind the workers’ comp pool benefit at the worker’s expense, because the system simply does not fairly compensate you for lost future earnings. The consequences for injured workers and their families can be disastrous.
Is it any wonder you need an experienced Texas work injury lawyer who can effectively investigate your case and represent you? If your employer is a non-subscriber and does not carry workers’ comp, you need to know that, because you may be able to sue them directly for your full damages. And whether or not your employer carries workers’ comp, you and your attorney should immediately begin identifying every third party who may be liable for your workplace injuries, so that together we can aggressively pursue all legitimate claims against them. You can learn more on our San Antonio accident resource page. Our workplace injury lawyers build strong cases, and we tirelessly fight for the fairest compensation you deserve. Call Carabin Shaw today at (210) 222-2288 for a free consultation.