On-the-job accidents can have crippling effects to both employers and employees. However, workers compensation is designed to minimize the damage to both parties. Often called workers comp, this form of state-mandated insurance pays for the medical treatment of workers who are injured or disabled while working. An employee who receives workers compensation payments forgoes the right to sue their employer to cover damages.
So what exactly is covered by workers compensation?
· Injuries that occur on the job (including offsite job activities), regardless of fault
· Medical expenses associated with injury
· Compensation for lost wages
· Costs associated with rehabilitation and/or retraining
· Compensation for long-term and permanent injuries, along with issues and illnesses developed over time (ex: back problems from repetitious heavy lifting)
· Benefits to the families of workers who are killed on the job
Workers compensation does have limits to prevent abuse of the policy. Workers often receive two-thirds of their wages, up to a fixed maximum. Though modest in appearance, these benefits are not taxed and can therefore afford the worker comfort while recovering.
What is not covered by workers compensation?
· Injuries that occur while a worker is intoxicated (drug and alcohol tests are state-imposed)
· Self-inflicted injuries
· Injuries due to a direct violation of the law or company policy
· Injuries unassociated with work
· Compensation for pain and suffering
Workers compensation laws vary by state, but it is often required for employers to operate legally. Ask your agent about the requirements for your business.
Keep your employees and workplace safer with workers compensation. Call Prestige Insurance Group at (305) 969-8776 for more information on Miami workers comp insurance.