Settling Claim in CO

[grace1561]

Will someone please give me some information on a "compromise and release settlement" and how I should word my letter to the insurance company. I have had it with the horrible health care and neglect from the insurance company and would rather accept the consequences of settling. My injury is not that severe.....

Thanks in advance for any advice you might have!

[jayne]

talk to a workmans comp lawyer first....most first visits are free and he can give you a bit of advice....Sithie is from colorado PM her she might have a better answer for you

[1171]

if you are going to handle the negotiations yourself, your first contact might be to ask them if they are interested and what they will offer.
there can be a bit of a game in trying to get the other party to be the first to set a figure so expect a low response.
generally the best tactic is to confront them with a situation whereby a settlement appears to a be a better option then continuing the claim e.g. series of legal actions (depositions, medial-legal opinions, hearings, court appearances etc.) or continuing high cost treatment: hospitalizations, in-home care, additional complications, etc. and get them to contact you about settlement. Generally whoever wants it more gets the shorter end of the stick money-wise.

P.S.
determining the value of the permanent impairment component can be difficult if you are not at MMI.
In colorado a settlement over $75K has to be approved by the board and the employer notified.
check out the publications available http://www.coworkforce.com/dwc/PUBS/Empl...202008.pdf

[grace1561]

Thank you both for your responses.

[sparkey]

For example. In my case of my permanent impairment award that is suppose to be in the mail, my claim should be still open and the ic is liable to keep paying all my medical bills, mileage, except for the disput of my medications that they no longer pay for.

If for some reason, NOT that i would like to, I could close my claim and ask for a certain amount to make them go away? I need my medical for my PM appointment I have each month. I get injections and those should all still be paid for if my hearing was only over my dispute of rating and medications? Will the IC ever call me to make a settlement to get me off their hands of paying for the treatments/dr. visits? Just curious as I am confused to how long they will keep paying my doctor bills and mileage for my injury after accepting my 10% permanent impairment award check. This does not effect my medical payments?