If you’ve sustained permanent disability as a federal worker making it impossible to use a certain body part, you may qualify for compensation under federal workers’ compensation. This is a somewhat flexible compensation program that makes it possible for you to take care of your living expenses due to your injuries. If, for example, you decide to go back to work at a diminished capacity, you may qualify for a lump sum schedule award whose details we will cover in this post.
Are you looking for a federal workers’ compensation attorney who handles lump sum payments for schedule awards? If so, please get in touch with us NOW on 1-855-233-3002 for your free, no-commitment consultation into this question and other federal workers’ compensation concerns. There are certain requirements that must be met in order to qualify for lump sum payments, and you must think of the significance of this kind of payment going forward when it comes to your future work and health prospects. Call 1-855-233-3002 RIGHT NOW to speak to an experienced federal workers’ compensation for free.
What Does The Law Say?
According to the law, you may be entitled to a lump-sum payment that is the equivalent of all future compensation payments. A lump-sum payment may be offered to those who have suffered permanent partial or total disability, and it calculated at a discount of 4 percent on an annual basis. It is also important to note that lump-sum payments cannot be applied to wage-loss compensation thanks to regulations that were put in place in 1992.
The “Best Interest” Clause
Please remember that just because you sustained permanent partial or total disability on account of an injury doesn’t mean that you are entitled to lump-sum payments. The law states that OWCP will only award this if they believe that it is in your best interest. Instances where lump-sum payments are considered in your best interest include if you aren’t relying on compensation as a replacement for lost wages.
Requesting for Lump-Sum Consideration
In order to be considered for lump-sum payments as an injured federal worker, you must put in a request with your Claims Examiner who will then provide you with literature covering regulations on the same so you can make an informed decision going forward.
Show Me The Money
If looking to be awarded a lump-sum schedule award, you must show proof of continued employment, be a Social Security Disability recipient, or an OPM disability retiree. Proof of constant cash flow is usually considered to be sufficient when it comes to determining that a lump-sum payment would be in your best interest.
Need More Information? We Can Help!
There’s so much more we haven’t covered in this post. Need more information to help you make the right decision regarding lump-sum payments for schedule awards? Please call us NOW on 1-855-233-3002 for your FREE and confidential consultation with one of our experienced attorneys. Thanks, and we look forward to hearing from you.