A clincher settlement is another way to settle a South Carolina workers’ compensation claim. This differs from a Form 16A settlement. The critical difference between a Form 16A and a clincher is that a clincher is final. In exchange for a negotiated lump-sum payment, the injured worker permanently releases the employer and insurance company from any future obligations. This includes obligations for medical or disability payments. Even if the worker’s condition later worsens or requires surgery, the insurer has no further responsibility. A clincher settlement is often favored over a Form 16 because it provides an immediate financial resolution. It also offers certainty, and a clean break from the insurance company.
What is the difference?
Like a Form 16A, clincher settlements usually happen after the worker has finished treatment and reached maximum medical improvement (MMI). They have also received a permanent partial impairment rating. That rating can be adjusted (“bumped”) based on how much the injury may affect the worker’s ability to earn income. Additionally, it considers any ongoing pain and discomfort. In some cases, injured workers can request ongoing disability payments based on lost wages. For example, this is possible if their back injury is rated 50% or higher or if the accident involves more than two body parts. These possible outcomes are the grounds for negotiating a clincher settlement.
Because a clincher ends the right to all future workers’ compensation benefits, it is vital to have a comprehensive understanding of the long-term medical outlook. It is also crucial to appreciate the best claim for future disability benefits. An experienced South Carolina workers’ compensation lawyer can help you secure an appropriate lump sum. This sum is based on maximizing future disability benefits and covering potential future expenses.
What should you do?
If you’ve been injured on the job in South Carolina, don’t navigate the workers’ compensation system by yourself. Reach out to an experienced injured workers law firm like The Law Offices of Bradley H. Smith today for a FREE CONSULTATION.