If you have been approved for workers’ compensation permanent partial or total disability cash payments following your work-related injury in Iowa, you will have two options for payments. You may receive a weekly check from the workers’ comp insurance provider over a predetermined number of weeks, depending upon the nature and extent of disability. This is commonly referred to as an open file.
However, you also have the option to close your case by negotiating to receive a lump sum payment for the total amount of money you would be owed over the course of the scheduled payments.
By accepting a lump sum payment, you forfeit the right to pursue any further claim against your employer or the workers’ compensation insurance provider. You may, however, continue to seek additional compensation through a third-party lawsuittagainst any party held responsible for your injuries.
We at Loney & Schueller often get questions of this nature, and Eric, Randy, and Sarah are always ready to answer your questions and address your concerns.
If you’ve been injured while on the job or at work, there is a wide array of avenues one can choose from to pursue their rightful compensation. It can be confusing and overwhelming, but we are here to help, and we make no bones about it, we are on your side! We will fight actively for you to ensure you the compensation you rightfully deserve. Call us at 515-225-4485.