One of the most pressing concerns for injured workers is understanding when they will receive their workers’ compensation payments. The timing and frequency of these payments can vary, and it’s essential to know what to expect to manage your finances effectively during this challenging time.
Initial Payments
After filing a workers’ compensation claim, the waiting period for your first payment can be stressful. Here’s a general timeline of what you might expect:
Waiting Period
In New York, there is typically a seven-day waiting period before workers’ compensation benefits begin. This means you won’t receive benefits for the first week of your disability unless your disability lasts for more than 14 days, in which case you will be paid retroactively for the initial week.
First Payment
Once your claim is approved, you should receive your first payment within 18 days of notifying your employer about your injury. This timeline can vary based on the specifics of your case and the efficiency of the insurance company handling your claim.
Ongoing Payments
After the initial payment, you should start receiving regular benefits. Here’s how these ongoing payments typically work:
Frequency
Workers’ compensation payments are generally issued biweekly. These payments aim to replace a portion of your lost wages while you are unable to work due to your injury or illness.
Amount
The amount you receive is typically a percentage of your average weekly wage, up to a maximum limit set by New York state law. The exact amount can vary depending on the severity of your injury and your ability to work.
Delays and Interruptions
Unfortunately, delays and interruptions in payments can occur. Here’s what you can do if you experience issues:
Contact the Insurance Company
If there is a delay, contact the insurance company handling your claim. Sometimes, a simple administrative error can cause delays, and a quick call can resolve the issue.
Consult with Your Lawyer
If payments are delayed or stopped without explanation, it’s crucial to speak with your workers’ compensation attorney. They can investigate the cause and take the necessary action to ensure you receive your benefits on time.
Addressing Payment Reductions
If your payments are reduced, your lawyer can review the reasons provided by the insurance company and challenge any unjustified reductions. This ensures that your compensation accurately reflects your situation and the extent of your injury.
Lump Sum Settlements
In some cases, you might consider a lump sum settlement instead of ongoing payments. Here’s what you need to know:
Negotiation
Your attorney can help negotiate a lump sum settlement with the insurance company. This can provide a significant one-time payment, which might be beneficial for managing large expenses or if you prefer not to deal with the uncertainty of biweekly payments.
Considerations
Before agreeing to a lump sum settlement, it’s essential to consider your long-term needs and the potential for future medical expenses. Your lawyer can help you weigh the pros and cons to make an informed decision. Understanding the timeline and process for receiving your workers’ compensation payments is crucial for managing your finances and ensuring you get the support you need.
If you encounter any issues with your payments being delayed, reduced or stopped, seeking legal advice is a critical step in protecting your rights. At EMD Law, our Albany, NY based workers’ compensation attorneys are dedicated to helping you navigate these challenges and secure the benefits you deserve. Contact us today to schedule your FREE consultation today and ensure your financial stability during your recovery.