By: Corey Meaux
It’s Settlement Season!
Now that we are entering the last quarter of 2024, it is time to start thinking about settling some of your older claims. Remember, plaintiffs (and their attorneys) typically like settling claims before Christmas so they can end the year with more cash in their pockets. We recommend reaching out to those attorneys or claimants now to get the ball rolling before negotiating yourself or scheduling a private mediation. Private mediators will see their calendars fill up very quickly over the next few months, so you’re going to want to schedule those now.
The reason I recommend starting the process now is due to the plethora of steps some of your files will need to take before final settlement approval. First, you’ll need to check to see if those files need a Medicare Set-Aside (MSA). Over the last year, we’ve seen that CMS is taking longer and longer to approve these MSAs, so now is the time to send off those claims. Secondly, you’ll need to confirm all Medicare conditional payments, Medicaid/Medicare liens, child support liens, and insurance/medical provider liens. Also, if you want your attorney to provide you with a detailed settlement evaluation, you’ll want to give them the file now, as it takes time to go through these older claims with pages and pages of medical records included. Lastly, you’re going to need to confirm that your employer approves of the settlement amount that you or your attorney recommends, and you’ll possibly need to add reserves to your files before attempting settlement negotiations.
It’s always best to end the year with fewer files on your desk. And, as we always say, the best workers’ compensation file is a closed workers’ compensation file!
