When it comes to workers’ comp benefits, most injured workers are focused on two areas: lost wages and medical bills. They have suffered immediate injuries – perhaps in a fall at work or in a car accident while they were on the clock – and they have to pay their medical bills. They’re also going to miss work while they’re in the hospital or at home recovering, and they need that income so that their budget will continue to work.
When looking at medical bills, it’s common advice to tell people to consider the long-term costs along with the immediate costs. If you’re going to need long-term assistance, rehabilitation services, medication\ or something else of this nature, you want to factor that in along with the hospital bills from the day of the incident.
But the same general principle also applies to lost wages. You need to think about the future.
Lost earning potential
Some injuries will create lost future earnings, or they will reduce your future earning potential.
An example of this is if you work in a highly physical industry. You have to be in good shape to complete your job. A spinal cord injury may make this impossible because you will lose some level of mobility forever. As such, you may discover that your earnings in the future are going to be lower because you have to take on a new job, switch careers or work fewer hours.
But if those future wages are also connected to your injury at work, the costs could be more substantial than the immediate losses while you’re in the hospital. Carefully look into all of the legal options you have and consider all potential costs after an injury.