Every company should have Workers’ Comp Insurance. Almost every state requires that a company carries this type of insurance policy. This coverage provides benefits to employees that have a work-related illness or injury. It helps cover medical bills, lost wages from time off of work, and more. Coverage and plans can vary by state. For exact details, it is best to contact an insurance company that sells this coverage. While this may sound complicated, it is helpful to break it down and understand workers’ comp insurance.
How-to Understand Workers’ Comp Insurance: Workplace Safety
First, to understand workers’ comp insurance, you should know what it could and likely will not cover. While coverage varies by state and policy, this insurance could cover medical expenses, lost wages, and ongoing care costs. Additionally, it may cover funeral expenses if an employee gets hurt, becomes sick, or dies from a work-related accident or illness.
On the other hand, there are some things these policies may not cover. This could include injuries received by a fight that an employee started. Another example would be if worker gets hurt while intoxicated in the workplace, or if a worker gets hurt on purpose. Also, it likely will not cover an emotional injury that did not come from a physical injury at work.
How to Proceed if Injured
It is good to understand workers’ comp insurance so that you know how to proceed if you get hurt at work. If a worker gets injured at work, the best action is to report the injury right away. This report should include the date, time, and information around the injury. It is good to know what to do next if there is a workplace injury. First, report the injury to the supervisor immediately. Be sure the report includes the time, date, and events around the injury. This is the same for a job-related illness. Report them to the employer as soon as you know a diagnosis. Make sure to get confirmation that the illness is related to the job.
Also, employee should not use his or her own medical insurance for these injuries. Make sure all medical-related procedures and tests go through the worker’s comp policy. Do not let an employer try and make you use your own insurance. This could end in a compensation battle later down the road. Make sure to have a copy of your benefits so you can refer to them if needed.
Employers can buy workers’ comp policies from private insurance companies or state-funded programs. The requirements will vary by state. The plan will be based factors like the number of employees that need coverage and the type of work they will be doing.
While there is a lot that goes into these policies, it makes much more sense when start to understand workers’ comp. Hopefully, good workplace procedures are in place and employees will not get sick or hurt from work. Proper training on equipment, addressing hazards, and enforcing proper use of personal protective equipment will reduce this risk. However, if someone becomes hurt or sick, it is good to know that a business has a plan in place to cover it. Like many insurance policies, it is one that is good to have, but you hope you never have to use it.