PTD refers to Permanent and Total Disability Benefits (PTD). In this instance, if you can prove you cannot perform any work, you would be entitled to permanent and total disability benefits. Specifically, you must prove inability to earn any meaningful wage. These are paid at the Temporary Total Disability (TTD) rate for life. That would be two-thirds of your average weekly wage.
You could also opt for a lump sum discount for your PPD, leaving your claim open. This is not the best idea, as those benefits would then be subjected to a significant reduction at 10 percent compounded on an annual basis.
You also need to be aware of subrogation claims. This means when a separate insurance company paid for any of your medical benefits, they have a claim against your settlement. How much is recovered by the insurance company depends on the type of policy held. It may mean they can recover all your workers’ compensation benefits, some of the benefits or none of them.
If you are receiving Medicare, or there is a reasonable expectation that you are going to receive Medicare, any settlements must be reviewed and approved by Medicare. Not complying with Medicare provisions in a workers’ compensation settlement situation has serious repercussions.
In any situation dealing with workers’ compensation, it is best to discuss your case with an experienced workers’ compensation attorney at the Law Office of Jason M. Hatfield. Workers’ compensation claims can be confusing and complicated, and if you try to navigate the system on your own, you may miss out on benefits you are entitled to or have your claim denied. Our dedicated attorneys know the system and can make sure you get what you are entitled to according to Arkansas workers’ compensation laws.