Individuals waiting for a worker’s compensation settlement may qualify for financial assistance during the waiting period. Getting injured on the job does not translate to an immediate payout. Typically, workers’ compensation insurance claims involve a lengthy litigation battle between the claimant and the insurance provider.
Litigants in these cases often have to wait for a long time to recover an adequate claim payout. Medical bills, mortgage, car payments, rent, and other expenses continue to pile up. There are a few sources of assistance while waiting for workers’ compensation benefits.
Using Insurance to Settle Medical Bills
A person’s outstanding medical bills cannot be sent to a collection agency while a workers’ compensation case is pending. However, an injured worker may need to submit personal health insurance to get assistance covering the cost. A person can also call the hospital and request an arranged payment plan.
Considering Workers’ Comp Pre-Settlement Funding
Workers’ compensation settlement loans are designed for claimants who are experiencing insufficient income or overwhelming bills as a result of on-the-job-injuries. Injured workers may be eligible to borrow money against a portion of the proceeds expected from a workers’ comp award.
This can help pay for living expenses, utility bills, auto loan payments, rent and mortgage payments, and unexpected vehicle repairs. A person may qualify for this funding during any stage of the case if the claim was accepted by the insurance provider and he or she has an attorney who is in charge of the payment of the funds.
Seeking Assistance
A person can seek help from friends or family who are able. If these are not viable options, an injured worker may consider seeking assistance through local, federal, and state support programs, including:
- Supplemental Nutritional Assistance Program (SNAP)
- General Assistance
- Temporary Assistance for Needy Families (TANF)
- Rental Housing Assistance
- Low Income Home Energy Assistance Program (LIHEAP)
- Medicaid
- Earned Income Tax Credit
The state may have additional programs and a good place to start is the Department of Social Services or family social services office. A person may be to take out a home equity loan or borrow against a 401k or life insurance plan.
Planning for the Long Haul
Individuals must examine their personal finances and be prepared to change their life. For some individuals, this may involve pulling equity out of their homes, cutting back on expenses moving in with family members, using food banks, selling their car, or filing for bankruptcy.
