Worker’s Compensation
Unraveling Workers’ Compensation
Overview:
- Business insurance aiding employees injured or ill on the job.
- Covers medical care, lost wages, vocational rehabilitation, and death benefits.
Administration:
- State-regulated programs with varying rules.
- Federal workers covered by the U.S. Department of Labor.
Mandatory Coverage:
- Most states mandate coverage for employees.
- Exceptions exist, varying by state and business type.
Cost Factors:
- Premiums depend on state laws, business size, payroll, and risk.
- Shopping around for rates is beneficial in some states.
Filing a Claim:
- Promptly notify the employer of injuries or illnesses.
- Submit a workers’ compensation claim form detailing the incident.
- Employers file claims with their insurance; benefits provided if approved.
- Deadlines for filing vary by state law, emphasizing the importance of swift action.