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settlement question. Ohio

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  • settlement question. Ohio

    I took a settlement offer and wc is going to close my case. The 30 day cooling off period was over the end of March. So it has sat with the state of Ohio for the 30 days. Im just wondering if anyone knows if there is a time limit when they have to pay me? My lawyer says it should be any day now but I just want to know if there is a time limit. I live in Ohio.
    Thanks
    jamlws

  • #2
    You can find information on settlement rules here...http://www.ohiobwc.com/downloads/bla...C4123-3-10.pdf
    There are additional rules where attorney fees are included here...http://www.ohiobwc.com/downloads/bla...121.03.111.pdf

    Question however... in the settlement documents, is there provision for allocation of the monies you are receiving ?
    This should be done to show a specified dollar amount for any PPD indemnity, and for the future medical consideration if there is any.

    The medical allocation is necessary so when you become Medicare eligible you can show that amount, and not the entire dollars in the settlement are for medical.
    You could have to prove you have exhausted 100% of that money, including reasonable interest before Medicare will provide benefits for this body part if necessary.

    There should also be a page indicating a signed release of information form to SSA to provide your SSA status, and show there are no outstanding conditional payments that have not been reimbursed to CMS/Medicare.

    is a time limit when they have to pay me?
    Once the judge/mediator reviews the agreement for adequacy, you/IC wait the 30 days, you should receive the funds within 30 days...plus 5 for mailing..or there could be penalties/interest due.
    The ER/IC usually has 30 days from receipt/approval of the settlement documents.

    Noting in WC moves overnight... including the final check.
    Was there language included by your AA in the documents providing for a specified time to pay the funds. Usually there is something to the affect of 'if paid within 30 days, applicant waives interest/penalty'... it not, they'll take the max time permitted. Overnight deposits equate to big money for IC's...taking yours out makes for a 'loss'...

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