Featured image by RODNAE Productions via Pexels
Did you know that insurance companies are responsible for paying a wide range of workers’ compensation benefits to workers who have been injured or become ill at work?
As a business or company owner, it is crucial for you to understand the different types of benefits and advantages that may be available to your workers. This way, you can help them navigate the claims process.
RELATED ARTICLE: MENTAL HEALTH AND WORKPLACE SAFETY
Many providers offer workers’ compensation insurance. Each of these providers may have specific benefits available to injured or ill workers. You can find reputable insurance providers’ websites, such as https://www.employers.com/. These companies can help you get the coverage you need to give your employees the support they deserve.
So what types of benefits do insurance companies typically pay to workers who are injured on the job? Here are just a few examples of the most common types of benefits that your workers may be eligible for.
Medical
Approximately 80% of workers’ compensation claims are related to medical expenses. Therefore, injured workers must have access to the best possible healthcare. Insurance companies typically pay for various medical services. These can include doctor visits, prescriptions, surgeries, and hospitalization.
Additionally, many workers’ compensation insurance providers offer access to specialized medical care and support, such as physical therapy and mental health services. For workers who need ongoing or long-term medical care, insurance companies may also help to cover the cost of home modifications or specialized equipment required for recovery. You can look up various insurance providers’ websites to check coverage details. For instance, go to https://www.employers.com/.
Wage Replacement Benefits
Workers who cannot return to work due to injury or illness may be eligible for wage replacement benefits. These benefits can help cover the lost income your worker would have received if they had not been injured or fallen ill.
Insurance companies will typically calculate the number of benefits that an employee is entitled to. This is based on their average weekly earnings before their injury or illness. Some workers’ comp providers may also offer additional support for temporary or permanent disability. Of course, this depends on the severity and duration of their injury.
RELATED ARTICLE: WORKPLACE INJURY? WHAT STEPS SHOULD EMPLOYEES TAKE?
Death Benefits
Insurance companies will typically pay death benefits to the deceased’s family or dependents if a worker dies due to workplace injury or illness. These benefits can help cover funeral and other expenses. They can also help to compensate for lost income because of the loss of a loved one.
Overall, if an employee is injured or falls ill at work, it is essential to understand and provide options with workers’ compensation benefits. With the right insurance coverage, you will know that your employees can access the benefits and support they need to recover and get back on their feet.
RELATED ARTICLE: DIRECT AND INDIRECT COSTS INVOLVED IN WORKPLACE ACCIDENTS
How Do Insurance Companies Determine Which Claims to Pay Out?
Generally, insurers will evaluate several factors when determining benefits to pay out to workers who have suffered an injury at work. These factors may include the injury or illness’s severity and the projected recovery duration. The insurance company will also consider the worker’s projected ability to return to work.
Additionally, insurers will typically consider any other relevant factors. These likely include medical history, pre-existing conditions, and the specific circumstances of the workplace incident. Ultimately, insurance companies will use this information to determine which types of benefits are most appropriate in a particular situation. They will try to ensure that injured workers can receive the support they need.
Insurance companies aim to help businesses and workers manage the costs and risks associated with workplace injuries so everyone can stay safe and healthy on the job.
RELATED ARTICLE: ESTABLISH A SAFETY MANAGEMENT SYSTEM TO MEET OSHA STANDARDS