Click me
Transcribed

Structured settlements and workplace injuries

SELLING A STRUCTURED SETTLEMENT ΤΟ PAY FOR MEDICAL EXPENSES WHY ARE THE MAJORITY OF INJURY CASES PAID IN STRUCTURED SETTLEMENTS? The Periodic Payment Settlement Act of 1982 (Public Law 97-473) formally recognized and encouraged the use of structured settlements in physical injury cases. 25-35% With an ongoing structured settlement, a general rule of thumb, you will save between 25 and 35% in state and federal taxes on interest income that would otherwise be subject to tax. WHY SELL YOUR STRUCTURED SETTLEMENT (OR A PORTION OF IT)? 1/5 American adults say that they have suffered an injury while on the job. A work-related injury resulted in an average loss of approximately $38,000 including wages, productivity loss, and medical expenses. $38,000 For a herniated disc, a surgery costs about $6,000 on average (this is according to a 2006 report in USA Today, so current costs are likely a little higher). X-rays, which are often required even for minor strains and sprains, can cost from around $100 to more than $1,000, while physical therapy will likely cost at least $100 per session. Average Herniated Disc Surgery Average X-Ray Cost Average Physical Therapy Cost $100-$1,000 $6,000 $100 • That's just an estimate of some anticipated costs; there may be other costs (wheelchair, crutches, wheelchair accessible vehicles, ramps, etc.) and unexpected injury-related costs crop up all of the time. • Many Americans are ill-prepared to pay any medical bills or significant expenses beyond what's expected (if they can cover that), even with structured settlement payments. A NerdWallet study found that 63% of Americans say they've received unexpectedly high medical bills. 63% Roughly three-quarters of Americans are living 3/4 paycheck-to-paycheck, with little to no emergency savings to cover these expenses. SOURCES: huver.com/index.php?p=faq#2 time.com/money/3629764/medical-debt-cfpb blogs.findlaw.com/law_and_life/2014/01/what-are-the-7-most-common-workplace-injuries.html fit2wrk.com/_forms/ARTICLE_Fit2wrk_ClinicalEd vol1-16.pdf allaw.com/articles/nolo/personal-injury/estimating-value-back-injury-claim.html money.cnn.com/2013/06/24/pf/emergency-savings Brought to you by: STRUCTURED ASSET SERVICES www.structuredassetservices.com

Structured settlements and workplace injuries

shared by structuredasset on Oct 26
13 views
0 shares
0 comments
There are many ways to stumble into a structured settlement. One of the most common is from a work-related injury. One out of every five American adults say that they’ve suffered an injury while on the job

Category

Economy
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size