ID H0518

Repeals existing Section 72-404 of Idaho Code and replaces it with new provisions governing worker's compensation settlement agreements and lump sum payments.

Allows parties to compromise and settle worker's compensation claims through agreements for lump sum payments, future payments, medical cost reimbursements, and other benefits without commission approval, except when a party is a minor child or legally incompetent person.

Requires commission review and approval of settlement agreements involving minor children or legally incompetent persons based on the best interests of the parties, with written decisions and immediate appeal rights to Idaho Supreme Court on grounds of abuse of discretion.

Mandates all settlement agreements be filed with the commission including a detailed ledger of benefits paid or disputed and all agreed terms, with the agreement becoming effective upon filing and constituting a final adjudication of resolved claims.

Requires the commission to issue a notice of dismissal with prejudice within seven days after settlement agreement filing, while allowing exceptions for future agreed-upon medical or other benefits; effective July 1, 2022.