Worker’s compensation is often referred to as workers comp. This is a type of insurance that provides medical benefits and wage protection replacement to an employee that was injured on the job. With workers comp, the employee relinquishes their rights to sue the employer.
The Importance of Workers Compensation
The Department of Labor has programs that are designed to help prevent workplace injuries. There are different workers compensation laws depending on the state in which you reside.
In most states, businesses that have a certain amount of employees are required to have workers comp insurance.
When states mandate businesses to have workers comp insurance, this protects both the injured worker and the business. In a perfect world, when an employee is injured on the job, they can receive workers comp. Unfortunately, it is not always that easy.
A workers comp lawyer is usually contacted when a problem arises with an employee not being fairly compensated for denied workers comp.
5 Reasons Why Workers Comp is Important
1. Lawsuit Protection
Companies are typically protected with workers comp laws. Compensation laws are in place to keep employers from having to directly pay for workplace accidents and treatment. Without compensation laws, all work injuries would have to be settled in court.
If workers’ compensation did not exist, companies could potentially spend millions on workplace injuries. Now, employers only have to submit an insurance claim to help pay for an injury.
2. Employee Protection
With workers comp, an employee can file their claim with the insurance. An employee does not need permission from an employer to start a worker’s comp claim. The insurance is responsible for paying the employee, not the employer. Essentially, workers compensation helps to protect the employee in case an unforeseen accident occurs on the job.
4. Quick and Safe Return to Work
Accidents are inevitable, and some are unavoidable. On average, there are about 2.8 million non-fatal work accidents that happen per year.
Workplace comp helps employees to be compensated during their injury, so they can return to work healthy. Employees can get the necessary treatment without having to worry about being able to afford the needed medical procedures.
4. No-Fault Coverage
There is a no-fault provision in worker’s compensation policies that protects both the employee and employer. Regardless of how the injury happened, the blame is not placed on either party.
No-fault coverage is only valid if the employee is injured while doing something that is in the scope of the required job description. Compensation is required, even if the employee is somewhat responsible for the injury.
5. Compensation While Injured
Perhaps, one of the biggest concerns while injured is how you will take care of your bills and family. A steady income while injured is important. Unfortunately, just because you are sick or injured does not mean your bills and responsibilities will end.
Having workers compensation insurance is a security net that ensures that you can still maintain an income while out of work. Contacting a workers comp lawyer can help you to better understand workers comp laws and your rights.
Do You Have Workers Comp Insurance?
Lastly, do you know if you have workers comp insurance? Sometimes businesses look for ways to cut costs, but this is not an area that should be cut. From the most dangerous to the quietest workplaces, accidents happen.
Workers compensation allows you to better prepare for potential accidents. It is a form of security that is standardized for all employees. Certain rules and policies have to be followed by everyone. Make sure you fully understand your workers compensation rights.
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