What is workman's comp?

There are many workers’ comp benefits for both employees and companies.

Workers’ comp insurance can include compensation for:

• Medical expenses
• Partial reimbursement of missed wages
• Rehabilitation or ongoing prescription drug expenses
• Death benefits in the event of an occupational fatality

This type of insurance is usually mandatory for most businesses with employees. There are some exceptions, which do vary state by state. Some of these types of exceptions may include:

• Family-run businesses (with only family members as employees)
• Small agricultural businesses
• Companies with seasonal workers

However, business owners should contact their state’s appropriate governing agency to navigate exemptions. Workman’s comp insurance is vital because it provides a way for employees to get the help they need to be healthy and ready to return to work in the event of an on the job injury. If the employee cannot come back to work – for example, if their injury means that they are permanently disabled and can’t do the job that they once did – workers’ comp disability insurance can help make longer-term payments too. This helps show employees the support and investment you’ve made in them.

Why workers’ comp benefits employees

Workers’ compensation benefits can vary depending on the type of injury, where the injury occurs on the body, and how long it takes to recover. Many workers’ compensation insurance companies have detailed charts for different types of injuries and how they factor into workers’ comp payments to employees. Some injuries may result in larger payouts than others, depending on the severity and the implications for the injured employee.

Having partial financial support through workers’ compensation coverage can make a difference in getting proper medical treatment. Workers’ comp monetary assistance can offset healthcare costs and encourage employees to seek out necessary medical treatments regardless of potential costs.

However, to receive reimbursement, injuries must be considered “covered.” This means that the injury must have occurred while completing work-related duties (such as using a power tool while installing something on the job) or because of work-related duties (like developing a respiratory illness due to exposure to mold at a job site). There are some exceptions to these rules, such as if the employee was intoxicated or under the influence of drugs while the accident occurred. In such a situation, workers’ compensation coverage may not apply.

Workers’ comp benefits usually also include the partial replacement of lost wages. This aspect of workers’ comp can be immensely useful to an employee who might need days or weeks off of work to recover. Replacement wages are not usually paid out at the full amount of what the employee would have made if they had been at work. Reimbursement rates are unique to each state and insurance company. This means that the employee can continue to pay their bills while receiving medical treatment or recovering.

Lastly, workers’ comp benefits also typically include death benefits. This means that expenses such as funeral and burial costs may be covered for the employee’s family. These benefits can aid families who are grieving the loss of a loved one.