Workers’ compensation benefits aim to support injured workers until they can return to work. Still, if you are a family breadwinner, there is a good chance that you will also use this money to cover your family’s needs.
Can workers’ comp alone adequately provide for both your recovery and your family’s expenses?
How much workers’ comp can you receive?
Workers’ compensation offers several types of benefits:
- Wage replacement, often two-thirds of your average weekly earnings
- Medical treatment coverage
- Vocational rehabilitation services
- Permanent partial disability benefits
- Permanent total disability benefits
The amount you receive depends on factors like your pre-injury wages and the severity of your injury. Effective Oct. 1, 2024, the maximum weekly benefit will be $1,481.76.
Is workers’ comp enough?
Among 50 states, Minnesota is ranked 30th in affordability, which means it is neither among the most affordable nor the most expensive places to live. Still, sustaining your family’s needs and injury-related expenses solely through workers’ comp benefits can be challenging.
A reduced income can significantly strain your family’s finances if you were the primary and only earner and lived paycheck to paycheck before the injury. For one, your family’s sustenance does not decrease because of your injury. Groceries and school expenses will most likely remain constant. There are also utilities, rent or mortgage to pay.
You cannot dedicate all your compensation to your family’s needs, as your recovery remains a priority. This means you will need to make tough choices about budgeting, lifestyle changes and additional sources of income.
When confronted with such a situation, enlisting the help of a skilled attorney is crucial. They can work to secure the maximum amount of compensation you deserve, which can be incredibly important for you and your family during this challenging period.