Workers’ Compensation insurance provides financial support to workers who cannot work due to workplace incidents, covering their medical expenses, rehabilitation costs, and lost wages. It also provides peace of mind for employers, ensuring they will not face legal actions or costly lawsuits in workplace accidents. Understanding the importance of workers’ compensation benefits is essential for both employees and employers, as it serves as a safety net and promotes a positive work environment where everyone’s well-being is prioritized.
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Workers’ Compensation Benefits for Injured Employees
It covers employees for necessary medical treatment after a work-related injury or illness to ensure adequate care. This includes doctor visits, hospital stays, surgeries, medications, chronic pain management treatment, equipment (wheelchairs and crutches), and physical therapy. These medical benefits don’t have co-pays, deductibles, or financial limits.
However, some state laws limit medical benefits depending on the authorized treatment. For example, the coverage may be provided only for a few physical therapy sessions rather than all sessions. Also, the medical expenses are covered until the injured worker attains maximum medical improvement (MMI), where additional treatment won’t improve their condition. Once MMI is reached, the coverage may be limited to treatment helping to maintain MMI.
Disability benefits provide financial relief to workers who cannot return to work temporarily or permanently due to a work-related injury/illness. These benefits come in the form of:
- Temporary Total Disability:
The employee cannot work temporarily due to suffering fractures or requiring surgery.
- Temporary Partial Disability:
The employee can work part-time or at a limited capacity due to a broken arm or leg.
- Permanent Total Disability:
Employees cannot return to their previous designation due to permanent disability like vision loss.
- Permanent Partial Disability:
Despite a permanent injury, the employee can resume work but at a reduced capacity that prevents them from earning like before the injury.
The amount of disability benefits varies by state and depends on a percentage of the employee’s average weekly wages (AWW) for the last year. While most states set benefits at two-thirds of the employee’s AWW, some states set their maximum disability benefits based on the AWW of the entire state.
These benefits help injured employees to recover and return to work successfully. They include job training, physical therapy, job development, and placement services, skills assessment and testing, resume assistance, and any necessary modifications to the workplace to accommodate the employee’s limitations or disabilities.
Death benefits provide financial support to the dependents of workers who lose their lives due to work-related accidents/illnesses. These benefits typically include funeral expenses, compensation for the surviving spouse or children, and ongoing financial support to aid them in coping with the loss of income.
Protect Your Workforce with Our All-Inclusive Workers’ Compensation Insurance
At 01 Insurance, we understand the importance of ensuring your employees are covered in the event of an injury/illness that occurs on the job. That’s why we provide comprehensive Workers’ Compensation policies with sufficient benefits to protect you and your employees. Contact us today to be prepared for any unforeseen workplace injuries and resulting losses. You can also call us directly at 1-800-255-2489.