Workers compensation insurance protects employees who get hurt on the job while, at the same time, shielding businesses from paying out of pocket for legal and medical costs resulting from workplace injuries. And, in most states, it’s required. A workers compensation insurance broker can determine what level of coverage your business needs. In general, though, workers comp insurance covers the following.
Medical Expenses – Whether they are due to malfunctioning machinery or repetitive movements, job-related injuries can result in major medical costs. Typically, workers compensation insurance covers the costs for visits to the doctor, surgeries and procedures, medication and any special equipment, such as a wheelchair, that may be required. State law dictates whether it is the employee or employer who chooses the healthcare provider.
Rehabilitation – Physical therapy and other therapeutic care needed for recovery from a workplace injury often is covered by workers comp insurance. Training that an injured employee might need to regain job skills also is covered. In some cases, rehabilitation benefits may cover the costs associated with education and training for a new job, should an employee not be able to return to their original job.
Disability – Workers comp insurance compensates employees for wages lost due to an injury at work. Most claims fall into the category of temporary total disability, in which an employee is unable to work for a time, but will eventually return to work.
Talk to a workers compensation insurance broker to be sure you have the coverage your business needs.