1. Either you or the insurer commence negotiations to settle your claim;
2. An agreement on the terms of the settlement is reached (this includes when weekly payments and medical expenses stop);
3. The appropriate paperwork is prepared and signed by all parties;
4. The paperwork is sent to WorkCover WA for approval; and
5. A cheque is eventually sent out and the matter is over.
Once an agreement is reached the documentation needs to be finalised and signed by all parties which can take a week or 2 and then WorkCover will need to do their bit which is another week or so. The insurers are generally required to write to Centrelink, after WorkCover has notified them the settlement can go through, and request to know if any money is owing and they will not start their process for releasing your money until they have received a Centrelink notice back, so there could be 4 – 8 weeks more delays here.
Medicare will retain 10% of any settlement sum and return it to you once they have established you did not book any treatment for your injury up to them, if you have they will take that amount of the sum before they send it back to you.
You also need to be aware of any implications with Social Security, Private Health or salary continuance insurance amongst other things.
If your common law termination date is still live it is likely that any settlement will prevent you from making a common law claim in the event you have reached the 15% whole person impairment threshold.
If you settle your claim on a lump sum basis your settlement sum will also include a component for weekly payments and medical expenses.
It is difficult to give you an idea of what you could get as a settlement without having a thorough look at your claim and all the information available including current capacity, ongoing medical expenses, weekly payments and other related documents.
Disclaimer – All the responses above are very general in nature and should not be relied on to any extent if you want to get a clear answer to any queries you should seek good legal advice.