How Does Workers’ Compensation Get Calculated?
Last updated Friday, October 7th, 2022
Work can eat up one-third of your life. There’s bound to be an injury or two during those 90,000 hours spent on the clock. And when injuries happen, it helps to understand how to calculate your workers’ comp. Then preparations can begin.
How hard could it be to file this type of claim? Calculate how much you should receive, fill out the paperwork and submit it. Everything’s all taken care of in a flash. Or is it? Scenarios like this one are rarely, if ever, the case.
Workers’ compensation claims can be denied for all kinds of reasons. Something as small as a clerical error could keep your claim from being approved. You may not get the full amount you’re entitled to receive. Things can easily go amiss.
Figuring out potential benefits and wages is not so easy. You may think you’re going to get a certain figure but remember, these are only estimates. There are many factors that could affect calculations including:
• Date of injury
• Earnings history
• How many jobs you held at the time of injury
• Length of time with company when injury occurred
• Medical bills
• Nature of work performed
• Type (and extent) of injury suffered
• When and if you’ll be able to work again
Did a loved one suffer a work-related injury? Were you injured on the job? Unsure about what lies ahead? Our hardworking team at Murphy Law Firm can review your case absolutely free! We offer legal advice and go from there. A workers’ compensation win can be easy when you request help from the pros. Our affordable attorneys are here for YOU!
Georgia Workers’ Compensation Calculator
The more information you have, the better off you’ll be. Even if calculations are approximate, they can still give you a rough idea what to expect. It’s helpful to know if you may be getting indemnity benefits, or lost wages.
Want to know the dollar figure amount that could come from your workers’ comp settlement? Consider estimates you get as a ballpark figure. The final amount will most likely change as new facts develop.
Use our helpful Georgia Workers’ Comp Settlement Calculator to do some research. Find out some basics on what your workers’ compensation claim could be worth.
What is the Maximum Amount for Workers’ Compensation?
This question can be difficult to answer in general terms. Every case has specific details that makes it unique. This question is like asking, “What’s the worst damage a storm can do?” There really isn’t an average scenario.
Workers’ comp benefits will obviously be lower for someone who sprained a thumb than a brain trauma victim. Calculating your claim can be helpful here.
One major distinction is how the money comes. Payments offer a portion of your weekly earnings. A settlement is different. These lump sum payouts may cover:
- Attorney fees
- Costs for related medical care, physical therapy, prescriptions, surgeries, ambulance trips and medical devices
- Death benefits
- Future medical needs
- Future lost wages including sick pay, vacation pay, overtime and bonuses
- Lost wages
- Necessary hospital and emergency room costs
- Permanent partial disability (PPD) if injury resulted in loss of body part or future work opportunities are now limited
- Permanent total disability if injury prevents you from ever working again
- Stock options
- Temporary disability payments that were late or incomplete
- Vocational rehabilitation services if necessary
Another way workers’ comp amounts differ is representation. Going it alone against big insurance companies can be tough. An experienced workers’ compensation attorney can handle everything from research to paperwork. High dollar settlements require skilled negotiators like those found at Murphy Law Firm.
How Much Money do You Get from Workers’ Compensation?
Again, the answer to this question will vary based on your specific circumstances. There is, however, a basic formula to figure out weekly benefit amounts. Settlements are much more in depth. These payments take many factors into consideration so they will vary widely.
“You will receive two-thirds of your average weekly wage, but not more than $725.00 per week for an accident which occurred on or after Jul 1, 2022,” according to the Georgia State Board of Workers’ Compensation.
There can be many twists and turns in the workers’ comp arena. Protecting your best interest here can be harder than it appears at first. Getting legal representation can help you understand your rights. Then you won’t get just a simple estimate. Your attorney can determine a fair settlement value and work to get it for you.