Which type of settlement is common in workers' compensation claims?

In workers' compensation claims, a Schedule/Open-Ended Release Settlement is common because it addresses future medical expenses and wage loss benefits that might arise after the settlement. This type of settlement allows for the claimant to receive a lump sum payment for their current disability while retaining the right to seek additional compensation for ongoing or future medical needs related to the injury.

The benefit of this approach is that it provides immediate financial relief while also preserving access to future medical care, which is often necessary in the case of work-related injuries. By using an open-ended approach, it acknowledges the sometimes unpredictable nature of physical recovery and the possibility of exacerbation of injuries, ensuring the injured worker is not left without recourse should their condition change over time.

In contrast, other types of settlements like Full Release Settlement generally close out any future claims once compensation is agreed upon, potentially leaving the injured worker without assistance if their condition worsens. Partial Release and Advanced Payment Release Settlements may also limit the scope of future claims or provide immediate payments without the long-term security that a Schedule/Open-Ended Release offers.