Workers Compensation Information
Even with rigorous safety protocols and robust training, work accidents happen. If an employee suffers a work-related injury or illness, workers’ compensation insurance can provide them with financial assistance. Additionally, for many employers, it is required by law.
The agents at Regina Jasak can help you secure workers’ compensation insurance for your business. Reach out today for more information.
Who Does Workers’ Compensation Insurance Provide?
If an employee suffers an illness or injury related to their job, workers’ compensation insurance may provide benefits, including:
· Medical benefits. Workers’ comp may provide payments to cover employees’ medical expenses (e.g., doctor and hospital visits) after a work-related injury or illness.
· Wage-loss benefits. If a work-related injury or illness affects an employee’s ability to work at full capacity, wage-loss benefits may be provided until the employee has recovered or until the wage-loss benefit limit is reached.
· Vocational rehabilitation benefits. If an employee is not able to return to their previous position, workers’ compensation may provide access to vocational rehabilitation services, which can help them gain new skills to be able to reenter the workforce.
· Death/dependent benefits. Workers’ comp may help cover funeral costs and lost income if an employee passes away due to a work-related injury or illness. Spouses or dependents of the deceased may receive the benefits.
Workers’ compensation programs and the benefits they provide vary by state. For example, workers’ comp may also provide liability coverage for employers. This may cover a business’s legal expenses if an employee files a lawsuit.
Speak with your agent about coverages, duration and limits of benefits, and legal requirements of workers’ compensation. We can help you navigate the complexities of obtaining this insurance and discuss why it is beneficial for your business to have it.
Who Does Workers’ Comp Cover?
State laws vary on who is eligible to receive workers’ compensation benefits. In general, employees are eligible, but independent contractors are not.
If an exempt worker or independent contractor is injured on the job, your business may be responsible for their losses. Make sure to discuss strategies to reduce this exposure with your agent.
How Much Does Workers’ Compensation Insurance Cost?
The cost of workers’ compensation depends on several factors. For example, your business’s size, location, payroll and industry could impact premiums.
Get Started Today
The team at Regina Jasak can help you secure workers’ compensation insurance. Contact an agent to get started with coverage.