Mesothelioma compensation claims against companies at fault for asbestos exposure are estimated to result in an average of $1 million to $1.4 million if they settle, and $2.4 million for a jury award.
It typically takes less than one year to receive compensation from settlements or an asbestos trust fund. The amount awarded will depend on the severity of the illness, the patient’s age, medical costs, and the company’s negligence.
Compensation for a diagnosis of an asbestos-related disease is available through many different sources, including trial verdicts, settlements, asbestos trust funds, and more.
Your option will depend on the payout amount, eligibility, and preferred timeline.
Average Amount for Asbestos Exposure Awards
Although medical expenses alone can be overwhelming, with an average cost for just one mesothelioma hospitalization being over $24,000 in 2014, these are not the only costs to you and your family from an asbestos-related disease.
As such, the average award from a mesothelioma case typically pays for more than just medical costs. The award will vary depending upon the type of compensation being pursued as well as several additional factors.
According to Mealey’s Litigation Report, the average mesothelioma compensation amounts are estimated to be as follows:
- Mesothelioma lawsuit verdicts – $2.4 million.
- Mesothelioma settlements – between $1 million and $1.4 million.
- Asbestos trust funds – $125,000 or more.
Yet, asbestos-related lawsuits in recent years have resulted in higher settlements. In one case Johnson & Johnson and Imerys Talc America were ordered to pay $117 million in damages to a patient who had developed cancer due to exposure to talc-based products.
Factors Affecting Mesothelioma Compensation
The amount of financial compensation that you may be entitled to will vary based on different factors. Some of these factors include:
- The type of mesothelioma claim filed
- The victim’s age
- The asbestos company’s negligence
- The location, or venue, where you file your asbestos claim
- Your history of asbestos exposure (such as the type of asbestos fibers, location, and amount of exposure)
- Your work history, inclusive of any military service
Your mesothelioma lawyer will help you identify all the relevant factors to ensure that those factors are considered in the legal process.
Who is Eligible for Mesothelioma Compensation?
Anyone diagnosed with an asbestos-related disease may be eligible for compensation. In the case of wrongful death, surviving family members may also be entitled to financial assistance.
The factors that determine eligibility for mesothelioma compensation may be different depending on which type of claim you make. Some of the requirements for eligibility include the following:
- Evidence of asbestos exposure
- Medical records and other documentation to substantiate a mesothelioma diagnosis or other asbestos-related disease
- Adherence to the statute of limitations (i.e., the legal deadline to file a case, which depends upon one’s state of residence) associated with your type of claim
Contacting a mesothelioma law firm is the best way to collect this information, determine your eligibility, and estimate the amount of possible compensation for your case.
Mesothelioma Compensation: Options for Victims
There are many different types of compensation for an asbestos-related disease, however, the primary types are:
- asbestos trust funds
- mesothelioma lawsuits
- settlements
These options are discussed in detail below. However, an asbestos lawyer can help determine which path is best for you to receive the most compensation. An experienced lawyer also understands the details of each option and can handle the filing process on your behalf.
Asbestos Trust Funds
Many companies that manufacture asbestos-containing products have declared bankruptcy due to the many lawsuits that have been filed against them. However, these asbestos companies still owe a financial responsibility for the harm that they caused to innocent victims.
As part of the bankruptcy proceedings, manufacturers of asbestos are required to create asbestos trust funds. These trust funds must have a sufficient amount of money to compensate current and future claimants.
Individuals may be entitled to file an asbestos trust fund claim when they are exposed to asbestos and develop lung cancer as a result. More than $30 billion has been set aside in trust funds to compensate victims of mesothelioma. Currently, there are over 65 asbestos trusts.
Mesothelioma victims must meet certain criteria to receive a payout from an asbestos trust. Note that some individuals may be entitled to file a claim against more than one trust fund.
Mesothelioma Lawsuits
A personal injury lawsuit may be the best claim to file if you need compensation to pay for medical bills, lost wages, and other expenses.
If an individual dies of an asbestos-related disease, their estate may file a wrongful death lawsuit against the companies that made them ill to obtain financial compensation for past medical bills, funeral and burial costs, and other expenses.
If you and the defendants do not settle and your case proceeds to trial, a jury will decide whether or not they are liable for your damages. If you (the plaintiff) prevail in your case, the jury will decide a payout amount.
Note that the amount awarded will be determined by many different factors, such as the expenses incurred from an asbestos-related diagnosis. The trial verdict award may also include punitive damages if the liable party (the defendant) was excessively negligent, intentional, or malicious.
Mesothelioma Settlements
A mesothelioma settlement is a legally binding agreement between an asbestos plaintiff (you) and the defendant. A settlement can be reached before, during, or after a lawsuit goes to trial. Many mesothelioma lawsuits settle out of court and never reach a jury trial.
When a settlement offer is made by a defendant, the mesothelioma patient or a family member (in the case of wrongful death) can choose whether or not to accept it.
Other Types of Compensation
In addition to the above forms of compensation, there is a possibility that you can take advantage of other types of financial assistance. These programs are intended to assist anyone facing a serious illness, including those who have been diagnosed with an asbestos-related disease.
These alternatives are discussed below and include Workers’ Compensation, Military Veteran Claims (VA claims), private health insurance, Medicare and Medicaid, long-term disability insurance, community assistance, and Social Security disability benefits.
An asbestos attorney and law firm can help you choose which form of compensation you may be eligible to receive.
Asbestos Workers’ Compensation
In the case of occupational exposure to asbestos dust, a worker who develops mesothelioma may file a workers’ compensation claim. Some industries that regularly use asbestos include, without limitation, manufacturing, construction, chemical plants, and shipbuilding. Keep in mind that each state has different eligibility requirements.
It is important to understand that workers’ compensation is an exclusive remedy. This means that if an employee becomes ill due to asbestos exposure, they can seek compensation under their state’s workers’ compensation law, however, they will not be allowed to file a separate lawsuit against their employer.
Mesothelioma Military Veteran Claims
Many individuals who served in the U.S. armed forces can file claims with the United States Department of Veterans Affairs (VA) if they were diagnosed with mesothelioma. For example, this option may apply to those who worked in shipyards and other settings where asbestos was commonly used,
As a veteran filing a VA claim, you must meet a few requirements. Veterans must be honorably discharged, able to establish their asbestos exposure is directly linked to their service, and have documentation and other forms of evidence to show that they developed an asbestos-related disease as a result of their asbestos exposure.
Private Health Insurance
Health insurance can help offset your monetary expenses. If you already have insurance, you should review your copay and out-of-pocket deductible amounts as well as any coverage limitations.
If you have medical benefits from your employer’s group health insurance plan and cannot return to work, your employer has the right to stop paying your monthly premium.
You have the option to continue this coverage for a limited time, however, it may cost more. To learn more about your benefits, you should review your insurance documents and obtain further information from your insurer and human resources manager.
Medicare and Medicaid For Mesothelioma?
If you were exposed to asbestos and developed mesothelioma as a result, you may be eligible to receive Medicaid or Medicare benefits. These government programs offer healthcare benefits to people with disabilities, eligible senior citizens, and those who have a limited income.
Each state may have unique eligibility requirements for Medicaid, which is the Federal and State-funded insurance program for individuals with limited income. The U.S. federal government has web pages to help you explore Medicaid and Medicare benefits further.
Long-Term Disability Insurance
If you have long-term disability insurance and were diagnosed with malignant mesothelioma, you may be able to receive a certain percentage of your salary as disability compensation.
Usually, this type of insurance becomes available if you are unable to work for more than several months. You will be required to submit paperwork to your insurance company to prove eligibility. This paperwork may include documentation from your doctor verifying your asbestos-related disability.
It is important to understand that your insurance policy may place a limit on how long you can continue to receive these types of benefits.
Financial Assistance
Financial assistance may be available through your local community. Some organizations provide grants to assist families affected by a mesothelioma diagnosis. Specifically, these grants can help you or your loved one afford lodging, transportation, food, and other out-of-pocket costs that arise during cancer treatment.
Social Security Disability Benefits
If you are not able to work due to your mesothelioma diagnosis, you have the option of applying for Social Security Disability Benefits. You may qualify to receive a disability determination within a few days. However, it usually takes several months to submit an application and begin to receive benefits.
Additionally, the Compassionate Allowances program allows patients with pleural and peritoneal mesothelioma to apply for Social Security disability benefits under a fast-track process.
How Long Will It Take to Obtain Compensation?
The timeframe to receive payment from your mesothelioma compensation claim depends on the type of claim filed. Specifically:
- A jury verdict could take several years, while an asbestos company may offer to settle a case very quickly, meaning that payment could come within several months.
- The time frame associated with receiving compensation from an asbestos trust fund could be within just a few months.
- Compensation from other sources such as workers’ compensation and Social Security Disability Benefits may take a few months or more to receive.
Mesothelioma Compensation Lawyers
Mesothelioma lawyers have the experience to help you decide what type of case should be filed and what evidence should be presented. They also can help select a jurisdiction and fight successfully on behalf of anyone whose health has been negatively affected by asbestos exposure.
Mesothelioma patients and their loved ones do not have to pay legal fees until a settlement or verdict is reached. Initiating this process is the best way to discover what damages may be owed as a result of negligent asbestos exposure.
Steps to File an Asbestos Compensation Claim
The general process for filing any asbestos-related compensation claim is similar. Consider the following steps to obtain mesothelioma compensation:
- Step One: Consult with an asbestos lawyer at a nationally recognized law firm who has experience helping mesothelioma victims and surviving family members to receive the maximum monetary award possible.
- Step Two: Work with your lawyer to research the details of your claim, such as when and how you were exposed to asbestos. Your attorney will ask you to provide them with any employment or medical documentation to prove these facts.
- Step Three: Your asbestos lawyer will discuss all of your financial options and help you choose which type of claim you wish to pursue.
- Step Four: Once your lawyer prepares your case, they will file a claim on your behalf. After the claim is filed, the next steps will vary depending on the type of claim you choose.
- Step Five: After you file your claim, the amount of compensation will be determined and negotiated.
Although this is a general outline of steps, the process of seeking compensation depends on the type of compensation you wish to pursue.
Common Questions About Asbestos Compensation
Yes. There are over 65 asbestos trust funds with approximately $30 billion available for current and future claimants.
A person who is diagnosed with an asbestos-related illness may be eligible to file a mesothelioma claim for compensation. If a loved one passes away from mesothelioma, a lawyer who focuses on handling asbestos cases can help family members file an asbestos claim after death.
Asbestos lawsuits usually provide family members, dependents, or spouses with the highest amount of monetary compensation. As noted above, going to trial and receiving a verdict from a jury has an average award of $2.4 million.
The types of expenses include without limitation, diagnostic costs, treatment costs, and other medical expenses not covered by insurance, travel costs associated with finding a cancer treatment center and mesothelioma specialist, loss of income due to a mesothelioma diagnosis, the inability to support dependents, funeral and burial expenses, and loss of potential income in the case of wrongful death.
You should begin your search for the right lawyer by asking them several different questions, such as:
Do you provide a free consultation?
How many years have you handled asbestos-related cases?
What databases and other resources do you have access to?
Do you work with experts to help prove my case? and
Are you available across the country?
