Workman's compensation insurance protects injured employees and their employer when employees get hurt on the job. This well-known insurance has existed for decades, but not everybody knows the details related to it. We'll answer some of the questions you may have about workman's compensation.
With some exceptions, workman's comp insurance is required of employers that have at least one employee. Texas is the only U.S. state that is exempted. Employers are not required to insure volunteers, domestic workers in private homes, or independent contractors.
Workman's comp can be purchased from state-funded programs or from private insurance companies. Only Wyoming, Washington, Ohio, and North Dakota require it that it be purchased from state programs. The cost of workman's compensation insurance depends on several factors. These include things like the on-the-job risks, the type of work the employees do, the business size, and the state laws.
Workman's comp covers some of the employee's medical expenses, the cost of ongoing care, and lost wages. If the injury results in death, workman's comp pays the funeral expenses. What workman's comp insurance does not cover varies from state to state. However, you can't expect it to cover injuries that resulted from intentional self-harm, employee intoxication, or a physical fight started by the injured employee. This insurance also doesn't cover emotional injuries unless they are accompanied by physical workplace trauma.
The injured employee should report their injury to their supervisor as soon as possible. Job-related illnesses should be reported as soon as the employee receives the diagnosis and/or learns their worsening illness is job-related. Workman's comp attorneys agree that early reporting increases the case's strength. The incident report will ask detailed questions, such as the date, time, and circumstances of the injury.
The supervisor should take the injured employee to a medical facility for medical attention. Immediate medical attention means the employee can return to work quicker. Once back at the workplace, the form is filled out. The supervisor should give the employee a "First Report of Injury Form," which should accurately reflect the incident, the employee's rate of pay, and so on. The employee needs to verify what the supervisor wrote. The supervisor should then file the claim.
Workman's comp fraud costs insurance companies more than $30 billion dollars every year. While employers rather than employees commit most of these crimes, insurance companies will carefully review the circumstances that caused the employee's injury. If the claim is approved, the insurance company covers the medical costs and lost wages.
