Understanding Workers’ Compensation – Making Changes in 2020
“The strong individual is the one who asks for help when he needs it.” – Rona Barrett
Workers’ compensation laws protect people who become injured or disabled while working at their jobs. State statutes establish this framework for most employment.
While each state has its own specifics regarding workers’ compensation regulations and insurance guidelines, the overall structure remains similar.
Most states require most employers – even those with 1-5 employees to have workers’ compensation coverage. The employer pays this insurance – it is not taken out of the employees’ wages.
When an employee is injured on the job, it covers medical expenses related to the accident. If the employee is unable to work, it also covers the loss of wages. In the case of injury, employers cannot withhold workers’ compensation when the injury was the direct result of the employee’s negligence. On the other hand, when an employee receives workers’ compensation benefits, they automatically give up the right to sue their employer.
Employers of small companies often find that workers’ comp insurance via the state is the most economical. Larger corporations may choose to self-insure or obtain coverage through a private company.
Simply being insured isn’t enough. Workers’ compensation is a considerable expense on a company’s budget. As we approach 2020, establish a plan for easing the burden of time and money connected to both worker’s compensation insurance and claims. Remember, with the new year, often come new changes. Take time to ensure that you are complying with all applicable laws.
Consult with a professional –
an expert who can connect you with the best company and compensation insurance for your needs.
Evaluate your safety protocol.
Prevention is the best way to reduce incidents, which in turn reduces insurance premiums.
Communicate with all management staff and employees.
Establish specific policies for responding to an incident and following through with the proper documentation and reports.
Be prepared to take action when accidents happen.
- Respond immediately to the situation, including first aid and any necessary medical attention.
- Document the incident, promptly file a report, and assist the employee with his/her paperwork. If possible, a representative should meet with the employee to complete injury/illness reports.
- Communicate which physicians and medical facilities are acceptable to the program. Ensure the employee understands where to send forms, reports, medical expenses, etc.
- Follow-up with the employee to ensure he/she is recovering.
- Focus on helping the employee return to work. Be willing to modify a task or find a light-duty job until they can return full time to their prior position.
Choosing the best workers’ compensation insurance program, as well as learning the ropes, and being prepared. Bluebox Creative Solutions understands this – we’ve got your back. Our core principles shape our efforts. We are dedicated to our clients, and they benefit from our success. The services we offer are transforming small and medium-sized businesses, giving them the advantages previously available only to the largest companies. Our concept is simple; we leverage resources and economies of scale (think Costco and Walmart) to save money in many areas, including Workers’ Compensation insurance. Contact us today.