What Are Workers’ Compensation Benefits?
Workers’ compensation insurance provides coverage and medical benefits to your employees when injured on the job. These benefits are also provided for illnesses caused by working conditions. Workers’ compensation insurance can help cover:
- Medical treatments for employee’s injuries and illnesses. For example, say an employee slips and falls in your store. As a result they sustain a severe injury to their hip. Your workers’ compensation insurance can help cover the costs associated.
- In another example, say an employee breaks their wrist while moving merchandise at your business. Your workers’ compensation insurance can help cover the costs associated.
- An employee’s lost wages from the time that they’re unable to work. For example, say an employee sustains a back injury while lifting heavy boxes. As a result they need months off from work. Your workers’ compensation insurance can help cover the cost of their lost wages. Or say an employee gets into a car accident while delivering packages for your business. As a result they need a few weeks off from work to recover. Your workers’ compensation insurance can help cover their lost wages during those recovery weeks.
- Rehabilitation services for injured workers. For example, say you own a landscaping business. After an employee broke their leg on the job they required rehabilitation for it to recover. Your workers’ compensation insurance can help cover the costs of the rehabilitation services for the employee. Say you own a construction company and one of your workers breaks their leg while using equipment. As a result they need rehabilitation services to recover. Your workers’ compensation insurance can help cover the costs of these services.
- Death and funeral expenses for the family of a deceased worker. For example, say an unfortunate accident occurs and an employee dies on the job. Your workers’ compensation insurance can help cover the funeral costs that their family has.
- Legal fees if the family sues your business. For example, say an employee gets severely injured on the job. As a result, his family files a lawsuit against you. Your workers’ compensation insurance can help cover the legal costs associated.
How Much Do You Get from Workers’ Compensation Benefits?
Workers’ compensation benefits are paid to employees immediately following their accident. The amount of benefits employees receive depend on:
- The size of your business. For instance, the size of your payroll will likely play a role in your coverage. The more employees you have the more coverage you need and vice versa.
- The state your business is in. Every state has their own workers’ compensation program and laws to follow. The federal government doesn’t govern workers’ comp. This means, you’ll want to check to see what your individual state requires.
- The risks your employees face. Businesses with high risk jobs will need more coverage for their employees. For instance, construction workers, roofers, and steel workers all have high risk occupations. In contrast, retail workers, sales associates, and teachers all have lower risk.
- The different circumstances that can be at play make it difficult to know what protection will be provided for certain employees. As mentioned earlier, this is especially dependent on the risk your employees face throughout the day.
That said, finding the right provider doesn’t have to be complicated. In fact, it’s simple. At The Hartford, we’ll match you up with representatives that are happy and eager to answer your questions. Their goal is to make the process as smooth as possible for you.
Get a quote today from The Hartford today to learn more.
How Long Can You Benefit From Workers’ Compensation?
There are a variety of workers’ compensation claims. Some common ones include:
- On the job injuries. For example, say you own an electrical company and one of your employees gets injured on the job. Workers’ comp coverage can help cover their medical payments. It can also help cover the lost wages from recovery time of the employee’s temporary partial-injury. However, depending on the worker, coverage may be necessary for weeks or even months.
- Lost wages from recovery. For example, say your employee breaks their leg on the job while moving heavy boxes and equipment at your business. As a result they’ll require months of recovery before they can return to work. Your workers’ compensation insurance can help cover the costs associated with their lost wages during this time. In most cases, your employees will receive an average weekly wage. This wage is calculated from their total earnings they would receive in a year.
- Illnesses that result from working. For example, say you’re employee encounters asbestos on the job. As a result they become ill and need medical care. Your workers’ compensation insurance can help cover the medical costs associated. Similar to on-the-job injuries, it could take weeks or even months to recover.
- Compensation for permanent injuries. For example, say you have an employee who suffers a permanent total back injury after getting into a car accident on the job. Your workers’ compensation insurance can help cover compensation required for that employee. These compensation payments are often considered disability benefits. Workers’ compensation can provide compensation for those even when partially disabled.
- Death benefits. In the unfortunate event that an employee dies on the job, workers’ comp can often provide benefits to the deceased family. For example, workers’ compensation insurance can help cover funeral expenses.
Each case that requires workers’ compensation coverage is unique. This means that no benefits are guaranteed. In most states, your workers’ compensation benefits kick in immediately after your claim has been filed. It’s important to file your claim as quickly as possible so that benefits can be processed and started. Different states have different laws, but in most cases, your benefits will only last a few years. This is especially true for temporary injuries. For permanent injuries, there isn’t usually a limit on benefits.
How Does Filing a Workman’s Comp Claim Work?
It’s important to know how to file a workers’ comp claim. The sooner you file the claim the faster benefits will kick in for your employee. This can be important because many states require the employer to pay benefits before the claim is processed. That means if you take weeks to file the claim, you’ll be responsible for the coverage your employee needs during that time. This makes knowing the steps to filing a claim especially important. Who knows, it may just save you time and money.
In addition to this, you can save even more time by gathering the necessary information before you file the claim. This will prevent confusion and stress while you speak with a representative.
Information needed on how to file a claim includes:
- Company information. This includes your company’s name, policy number, account number and location code.
- Injured worker personal information. This includes the worker’s Social Security number, birthday, address, marital status, age, gender, hire date, years in their current position, wage information and more.
- Incident details. This includes the date, the address, type of injury, estimated days of recovery, which body part was injured, any reasons to question the injury, witnesses of the injury and more.
The Hartford’s Workers’ Compensation Insurance Coverage
Workers’ compensation benefits through The Hartford go beyond only receiving great rates. They include:
- A preferred medical provider network. Through this network, your employees can tap into a nationwide network of more than one million providers. This helps ensure your employees receive the best medical network possible with the most options for treatment.
- Access to 65,000 pharmacies for prescription drugs. These pharmacies will assist your employees in getting the prescriptions they need. In most cases, your employees won’t encounter out-of-pocket expenses.
- Experienced nurse managers. These nurses help ensure your injured employees get the care they need. It doesn’t matter if they need physical, emotional, or occupational care. Our trusted nurses will make sure they get it.
- Pay-as-you-go billing solutions. This can help you manage your finances easier. This solution bases your workers’ compensation premium payments on your actual payroll. This ultimately helps you manage your cash flow.