Calculating a Personal Injury Settlement
Calculating a Personal Injury Settlement
One of the first questions someone filing a personal injury lawsuit always asks is, “How much can I get?” Getting into an accident is an expensive ordeal.
The Problems with “How Much Can I Get?”
If it wasn’t entirely your fault, then you deserve compensation that will help cover the cost of your accident. Thankfully, a personal injury lawsuit allows you to receive compensation for both physical injuries and mental pain and anguish you suffered as a result of the accident. You can get the following:
• Your medical bills
• Your lost wages
• Any money spent on your recovery
How Much Will I Get?
After asking, “How much can I get,” victims then ask: “How much will I get?” This question addresses the reality of your personal injury lawsuit, not the possibility or potential of it. The amount you will get is based on several factors, which includes the following:
• Your history
• Type of accident and injury
• The history of the other person
The reason the question “how much will I get” is a problem is because of the previous listed factors. Making a true assessment regarding what your personal injury lawsuit is worth is difficult due to the complex nature of these factors. Therefore, if you want to be happy with your settlement, talk to your lawyer about these questions, and make sure you get the right answers.
Personal Injury During Coronavirus Outbreak
There is a link between treatment of injuries and the amount of compensation a client can receive. If a client does not receive medical treatment for the injuries sustained in a personal injury accident, they simply may not be able to make a viable claim. It is essential that personal injury clients receive appropriate treatment for their injuries.
It’s common that clients will receive multiple types of treatment, which can include:
• Physical therapy
• Chiropractic treatment
Useful tools for personal injury clients during Coronavirus precautions
• Telemedicine appointments can allow patients to receive attention from medical professionals from the comfort of home. Some doctors who have never seen the need to in the past are now offering remote appointments to all patients.
• Switch to a health provider that does offer telemedicine. Doctor-on-demand services allow a doctor to virtually treat you at your bedside.
• Physical therapy services are offered as a part of the tele-health boom in the United States. So getting to an appointment is as easy as joining a virtual meeting from your living room.
Can a personal injury settlement cover my telehealth appointments?
Many Texans either do not have healthy insurance. Or their health insurance may not cover telemedicine.
In a recent Texas Tribune article, a person who wanted to meet with their therapist, couldn’t because the therapist was immunocompromised. When the therapist suggested that they meet remotely, a representative from the health insurance provider said that they wouldn’t be able to provide coverage. So who and what is covered under tele-health? Navigating insurance policies is never easy, and doing so under the stress of a personal injury and amid covid-19 is even harder.
One way to sidestep the issue of in, or out of network is to choose a health provider who only gets paid if the case resolves in a settlement or jury verdict cash win. The arrangement can be referred to as a doctor’s lien or a chiropractor’s lien. For people who do not have any health insurance, a hospital lien is one way that doctors can get paid for emergency and ongoing services.
What to do if you are afraid of, or unable to keep medical appointments.
Keeping medical appointments is very important to case value. It illustrates irrefutably to juries and adjusters the validity and severity of injury due to the crash.
If you are afraid of, or unable to go to the doctor physically there are steps you may take. With Austin’s most recent shelter-in-place order, going to some appointments physically may not even be an option. Many elective procedures are prohibited during this cautionary time. Take note of and save correspondences with your provider. Rather than waiting for Coronavirus responses to end, ask your health provider if there are other options. Many have already come out with options to meet virtually from the safety and comfort of home.
Talk to your lawyer about changes in the treatment of your personal injury. An attorney will need to be updated about changes so that they can best defend rights in negotiations.
Understanding Personal Injury Cases and Settlements
You got into an accident, and you argue that it wasn’t your fault. Now, you want to file a personal injury lawsuit. The last thing you want to think about after an accident is the long process that follows, but in order to get the settlement you deserve, you will need to work with a lawyer to make sure you reach the proper outcome. Here are the steps to follow:
• Find a Lawyer
• Select and Sign
• Discovery and Deposition
Infographic: How a Personal Injury Case Works
After an accident, a personal injury lawyer can help you afford to get the care you need. But how does the process work?
Check out this infographic for a brief explanation of what to expect when you sign up with a personal injury attorney.
Whether it was a car accident, serious truck crash, wrongful death or dog bite – most cases follow a similar pattern.
What Kind of Settlement Will I Get?
Jason and Justin McMinn work hard for clients to get the settlements they deserve, as well as to help clients understand that how much they can get is not always what they will get. But there is more than just your run of the mill settlement. A structured settlement is a type of settlement that can be reached after a case. What is a structured settlement? It is:
“Type of damages settlement whereby Defendant agrees to make periodic payments to injured Plaintiff over his or her life. Commonly such settlement consists of an initial lump-sum payment with future periodic payments funded with an annuity.”
Structured settlement payments depend on the victim. Sometimes this could result in monthly or yearly payments, depending on what your lawyer works out on your behalf. When it comes to a structured settlement, there are 3 steps:
• The parties of the settlement agreement agree that the defendant will pay the plaintiff periodic payments as part of the negotiated settlement.
• The defendant transfers the obligation to make the periodic payments to a third party assignee, usually an annuity company.
• That third party assignee purchases the annuity and distributes the payments periodically according to the settlement agreement.
So how do you know if you are entitled to a structured settlement? If your injury or incident resulted in damages that are going to require future loss or expenses, you can explore the options you have with structured settlements. For more information on how a structured settlement works, please read here.
During Settlement: Overcoming Setbacks
Personal injury can be physically, emotionally and mentally painful. No matter what accident you got into, there will be many setbacks ahead of you as you face complicated, complex medical and legal processes. These processes can be long, but they are not always helpful. Here’s how to make the most of it: getting the medical recovery, legal justice, and financial compensation you deserve.
• Listen To Good, Professional Advice: Once you have found the medical and legal professional to take care of you, listen to them. Going your own way will only frustrate everyone involved, so cooperate in order to get things done not just on time but as a team– successfully. This means doing the following:
◦ Be on time to appointments, meetings, and important dates, not late.
◦ Don’t fight, but you can argue when you feel lost or left behind.
◦ Discuss ideas and thoughts that you have with your doctor and personal injury lawyer, which will encourage them to do the same with you.
• Reach A Settlement Early: If you can, reach a settlement early through negotiation or mediation. This will save you money and time, allowing you to turn all of your energy and focus on to getting healthy and able again.
After Settlement: What’s Next?
You’ve finally completed the long, complex legal processes involved in a lawsuit. A settlement was reached, either through negotiation, mediation, or trial. Everything is back to normal, right? Wrong. Unfortunately, you are likely to still have lingering medical, financial, and personal issues to take care. So, after settlement, what’s next? Here’s how to make the most out of your settlement and move on, getting your life back on track:
• Get Treatment: The most important thing you should do after reaching a settlement is to focus on your recovery. If your injuries were minor, then this will take less time. However, major injuries require long periods of rehabilitation and generous support from family and friends. In addition, listen to your doctor’s advice when it comes to determining the extent of your treatment.
• Pay Your Medical Bills: After receiving your settlement, you should also make an assessment of your outstanding medical bills– then, pay them. Therefore, it is important that you keep all of your medical records and bills in a safe, easy-to-find place. In addition, if you are continuing to receive treatment, then keep track of the expenses and costs involved. Seek support or financial aid if needed, but put your health first.
• Check Your Bank Account Balances: After paying your medical bills and any other remaining fees, check your bank account balances. Is there anything left to make ends meet? Depending on the size of your settlement and extent of your injuries, you may have to either go back to work or apply for unemployment benefits.
• Make Time For Yourself: However, don’t forget to make time for yourself. Spend time with family and friends. Go see a doctor or psychologist if needed. Think about the effects of your personal injury on your life, and try to repair any damage. This will help you forgive, forget, and move on– because after settlement, you have the rest of your life ahead of you.
Recent Personal Injury Case Results
The McMinn Law Firm has helped injured Austinites for fifteen years, winning over 100 million dollars in settlements to date.
Uninsured Motorist Accident
Drunk Driver Accident
Truck Accident Victim
Austin Personal Injury Lawyers Waiting To Help You
We specialise representing clients in the following areas, we are waiting to help you on your personal injury case.
What Past Clients Are Saying
"Jason, Justin, and their entire support team represented me in an accident involving an 18 wheeler. I couldn’t have asked for a better outcome, and maybe as importantly, the service along the way was something you would want as a client, their entire team was amazing! I can with great confidence recommend them to friends, family, and to anyone who happens to read this. Thank you McMinn Law Firm for a job well done!"
"The McMinns were amazing. Within two days of my accident – and still barely able to move – I received a visit to my house for personal consultation (on a Saturday). All the initial feedback about my potential case turned out to be 100% accurate, and when it finally came time to settle they didn’t back off an inch. …If you’re hurt, make the call."
"I was rear ended by a large truck. Am thankful for Justin and Jason and their team and all the hard work they put into resolving my case! I highly recommend that you contact them if you’re injured in a wreck!"
- Lori M.
In Need Of Compensation?
Let us – at no cost to you – evaluate your situation so you can be sure. We don’t get paid unless you do. Call or reach out today to speak to an attorney with no obligations.