Initially, after your workplace accident, you may have filed a workers’ compensation claim with your employer or their insurer to be financially compensated for your initial medical treatment and temporary lost wages. Later on, though, you may have pursued a third-party claim against the individual or entity responsible for your accident in the first place. Here, you may have claimed the cost of your long-term healthcare needs, your pain and suffering, and more. Well, if this applies to you, please read on to discover whether you can recover monetary damages from both a workers’ compensation claim and a third-party claim and how a seasoned Panama City work injury attorney at Manuel & Thompson, PA can help you keep the amount you require to heal from your injuries and accident event.
Can I receive workers’ compensation and third-party compensation?
Simply put, your employer or their insurer will likely apply what is known as subrogation after learning that you sought out and won a third-party claim. Essentially, subrogation entitles them to place a lien on your third-party claim settlement or judgment so they may be reimbursed for the benefits they have already paid out. Or, they may place a credit against your potential future benefits.
The reason behind this is that you cannot receive double the amount of recovery that you require for your work injury. Because if you do, your employer or their insurer may pay the consequences for an accident that was not their fault. Therefore, the negligent third-party may be the only one to incur a financial loss in the end.
It is worth mentioning that subrogation may also allow your employer or their insurer to take control over your third-party claim. Moreover, they may get the final say on approving or denying the proposed settlement offer by the third party. It may not be worth fighting this, though, as you may be required by law to provide them with a notice of claim, regarding your intention to file a third-party claim.
Will I have to return my entire workers’ compensation payout?
You may feel like your employer or their insurer is dominating your third-party claim, and understandably so. But you may rest easier knowing that they cannot seek reimbursement for any amount that exceeds the workers’ compensation benefits they have distributed to you thus far. Also, they must consider the attorney fees, court fees, and other expenses you have incurred through this legal process.
Although, as insinuated above, you may attempt to negotiate with your employer or their insurer to reduce your potential future workers’ compensation benefits instead of taking this reimbursement effective immediately. Or, to make all this giving and taking of money less complicated, you may ask to enter a global settlement with your employer or their insurer and the at-fault third party. Essentially, this is a single agreement with multiple plaintiffs that resolves all claims against a defendant.
All of this to say, you must be fully equipped to enter your upcoming third-party claim proceedings and potential subrogation actions. Your preparation is not complete without hiring one of the competent Panama City personal injury attorneys. Contact Manuel & Thompson, PA today.
