When people search for a new job, they often want to work for a company that offers benefits to their employees. Traditional employee benefits include vacation time as well as health, dental, and vision insurance. One benefit that some companies may be required to offer to their employees is workers comp insurance. What is workers compensation insurance? Read on to find out!
A Look at Workers Compensation
Why is this type of coverage a benefit to company employees? By offering this type of coverage, companies can reduce their liability for work-related employee illnesses and injuries. This type of coverage prevents employees from suing employers if they are involved in a work-related injury or experience a work-related illness. Learn more at Scotti Insurance. The state where a business operates will regulate if this coverage is required to be offered to employees.
Coverage Offered Through Workers Comp
If an employee is hurt on the job or becomes sick due to their job, workers’ compensation insurance can step in and assist the employees in many areas. Workers compensation insurance will help with the following:
· Employee medical expenses related to the accident or illness;
· Lost wages due to the accident or illness;
· Ongoing care costs for future care and medical treatments; and
· Funeral expenses if the employee lost their life due to a work-related accident or illness.
What does this mean? This means that, if the employee has an accident on the job, workers’ compensation coverage will help them. Because the accident took place at work, the employee’s medical bills can be covered by the insurance.
If they have to miss work, they will still receive their wages through insurance coverage. This type of insurance takes care of the employee and pays their medical expenses. This includes doctor’s visits, emergency room care, prescriptions, and more.
This coverage makes sure the hurt or sick employee will not miss out on their pay. It will also cover future medical costs. An example of what it could cover would be ongoing physical therapy for an injured employee. If these benefits are not provided to the injured employee, he or she may file a lawsuit with the help of a personal injury lawyer. The RZ Injury Lawyers can help you with your claim.
Funeral Costs and Death Benefits
In the unfortunate event that an employee dies, workers’ compensation may be able to help. This coverage would pay for the funeral costs if the employee died during a work-related accident or from a work-related illness. Death benefits may also be available to the family of the deceased employee. While death benefits will never make up for the lost life of the employee, these benefits can help the employee’s family out by paying a portion of the wages they would have brought home to their family.
Examples of Covered Employee Illnesses and Accidents
What sort of accidents and illnesses are covered by workers’ compensation insurance? Here are a few examples of the accidents and illnesses that this type of employee coverage could cover:
· Slips, trips, and falls at work;
· Illnesses due to harmful chemicals;
· Employees exposed to allergens that end up leading to illness;
· Carpal tunnel syndrome due to repetitive movement on the job;
· Loss of a limb related to a work-related accident; or
· Death while on the job.
Workers’ Compensation Insurance is a Smart Investment for Businesses
Is workers compensation insurance a smart investment for businesses? Absolutely! This type of coverage reduces a business’s liability if an employee is involved in a work-related accident and illness.
This type of insurance coverage also protects both the employee and the company. This coverage can keep an injured employee from having to sue their employer for lost wages and medical bills if they are injured while at work. Check with state guidelines to see if the business operates in a state where workers’ compensation insurance is required.
