Poisioned at work

[jonnysmith]

What is the name of your state (only U.S. law)? CT

I was Poisioned at work almost four years ago, even though workers compensation fought this like crazy I still won. But there is a third party involved, they used the chemicals while employees were in the building and numerous people got sick, I was one of the worse ones spending approx. 1 week in the hospital, months on steroids, and almost a year and a half out of work. I am on five medications a day costing over 500.00 a month for the rest of my life. The cost of my meds will range from 500,000.00 to 600,000.00 over my life.

Went to mediation and the third party only has a million dollar policy. My attorney was trying to get me to settle for 300,000.00 to 400,000.00 closing out the workers compensation and the third party. The problem is he gets a third of the amount, and Workers comp has a 100,000.00 dollar lien on the third party suit leaving me under 200,000.00 does this seem right?

I would think any settlement should cover meds, doctors appointments, I have lost pay, benefits, this injury has devasted my wife, my kids, my health, lively hood. As well as 20% damage to each lung, it has caused copd, asthma and rads.

Can someone please help me.

p.s. my attorney threated to fire us because we told him he is crazy if he thinks we will settle without my meds being taken care of.What is the name of your state (only U.S. law)?

[racer72]

You have 2 choices. Accept the offer or fire your attorney and hire another. But you must realize the attorney you fire will still get a third of whatever you finally settle for and you new attorney will then get his cut. You would have to settle for at least another $200,000 for you to pocket the same amount you are being offered now. Also, who did your math. You state future meds will be $500,000 to $600,000. At $500 a month, thats 83 to 100 years.

[ecmst12]

Don't you have insurance to cover part of the cost of your meds? If you are disabled, you should at least have Medicare.

[jonnysmith]

Originally Posted by racer72

You have 2 choices. Accept the offer or fire your attorney and hire another. But you must realize the attorney you fire will still get a third of whatever you finally settle for and you new attorney will then get his cut. You would have to settle for at least another $200,000 for you to pocket the same amount you are being offered now. Also, who did your math. You state future meds will be $500,000 to $600,000. At $500 a month, thats 83 to 100 years.

The medical cost is including having to go to a pulmonary doctor every 3-4 months, cat scans which have to be done occasionally, and was told need to be tested after 5 years or more to see if the chemicals are a cancer causing agent. Also the cost of the meds on a prorated schedule of increasing 3% annually. The meds are closer to 600 a month, including a new one I was just recently put on.

[jonnysmith]

Originally Posted by ecmst12

Don't you have insurance to cover part of the cost of your meds? If you are disabled, you should at least have Medicare.

We do not know if the insurance we have through my spouses work will cover a pre existing condition, and I am not 100% disabled, have worked in another office since the injury, but can not work the amount of hours I was putting in, restrictions are have to be in a clean building, cannot be exposed to any chemicals etc.... lost great health insurance coverage for my whole family, 401, profit sharing, stock options, this injury took a great deal of my health, can not go for long walks, job, dive in the pool, play with dogs etc..

[ecmst12]

If you went right onto your wife's plan after your old plan ended with no gap in coverage, or with a gap of less then 63 days, then you will not be subject to any pre-existing limitations, even if the policy allows for one (not all do).

Even if you are subjected to a pre existing limitation, the longest an employer-sponsored plan can exclude the condition for is 12 months. It sounds like you have already been covered for longer then that.

[jonnysmith]

Originally Posted by ecmst12

If you went right onto your wife's plan after your old plan ended with no gap in coverage, or with a gap of less then 63 days, then you will not be subject to any pre-existing limitations, even if the policy allows for one (not all do).

Even if you are subjected to a pre existing limitation, the longest an employer-sponsored plan can exclude the condition for is 12 months. It sounds like you have already been covered for longer then that.

Now isnt this something my attorney should of been letting us know? He just said take the money invest it right and it will cover my meds. He said put it in a 10% interest account, and that would pay the meds. So I went to my bank only to find out that putting the money in a Jumbo CD for 10 years I will get an interest rate of 4%. Just confused about the whole thing. I have been on my wifes insurance since mine expired, but anything to do with the injury is going through Workers Comp.

[cbg]

Did you ASK him how pre-ex clauses work? He doesn't know what you don't know until you tell him. When the law ecmst12 mentioned went into effect, it was very, very widely publicized. He may have assumed you already knew that.

[ecmst12]

As long as workers comp was in effect, then that's who should have been paying your medical bills, that is correct. Once WC stops and will not be covering your medical bills, then everything can go to the health insurance.

I would strongly advise consulting a financial planner before making any investment decisions. You're going to be getting a nice chunk of change and the market is really iffy right now, so you need some help to get the right balance between safe investments (like CDs) and those that could get you a better return. I know very little about investing and that is what I would do in your position.