How old are you?
How well does the light duty job pay , especially in relation to you prior job--and are they any significant benefits/pension differences as well?
Whats the possibilit of being laid off from new job for general business conditions
" for recurring medical issues.
In short if you settle and someting goes "wrong" are you still OK.? Major back problems have a nasty problem of comming back --and if it comes back later there may not be any place to turn and/or it may not be covered as its a pre existing condition.
Unless you have a clear understanding of same you best to discuss option and fees with s pro as to WC litigation--you want somebody how has a specific expertise in winning WC issues not just a lablor law generalist --ask /sort it out up front .
It can get complex rather quickly --------------and its important that on a sunny day when you are feeling good and work if fine that you not underestimate the issues of a bad day .
Obviously if you are able to work the insurer has an incentive to want to factor in a partial cure and your economic earing power and move on.
Last but not least --double check if any setlement would be taxable or not taxable to you.
Your post seems to say you are NOT drawing WC pay but you are only getting medical coverage --in todays wacky medical coverage world I'd NOT want to give up medical coverage w/o extreme care as tothe settlement.
Your post suggests if you had a recurrance of that back problem you might still be covered by prior WC clam as to pay?
I know enought that I would NOT try to sort this out without some skilled help.