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Workers Compensation Information
Although your business may have extensive safety protocols, workplace accidents can still happen. Workers’ compensation insurance may provide assistance if one of your employees suffers a work-related injury or illness. Additionally, having workers’ compensation insurance prevents employers from being fined for lack of coverage because in many states, it is required.
The team at Cole Hixon Insurance Inc. in Athens, Georgia, can help you obtain the workers’ compensation insurance your business needs. Contact us today for more information.
What Does Workers’ Compensation Insurance Provide to Employees?
After a work-related injury or illness, workers’ compensation (often called workers’ comp) may provide assistance, including:
Wage-loss benefits to help replace lost income for the employee due to the workplace injury or illness.
- Medical benefits to help cover medical expenses (e.g., doctor visits) related to an employee’s work-related injury or illness.
- Vocational rehabilitation benefits to provide access to vocational rehabilitation services that can help employees gain new skills if they are unable to return to their previous position.
- Death/dependent benefits to help cover funeral costs and provide lost income payments to the employee’s spouse or dependent if an employee passes away due to a work-related injury or illness.
The above list is not all-inclusive, and workers’ compensation may provide other benefits. Reach out to your insurance agent for more details.
How Does Workers’ Compensation Insurance Work?
After a reported employee injury, employers are typically responsible for submitting a first report of injury form to the employer’s workers’ compensation insurer. Additionally, the process may involve:
Employers may provide details to the employee regarding the employee’s rights and the workers’ compensation assistance the employee may be entitled to.
- Employers or the insurer may request an interview of the employee to obtain details regarding the injury. States may also require the completion of other forms for more information.
- Employers may interview witnesses or obtain statements.
- The employee’s doctor may submit a medical report.
The insurer then typically approves or denies the claim. If approved, the employer and employee receive the details regarding the assistance that will be provided and payments may begin. If denied, the employee may request reconsideration from the insurer or file an appeal to the state workers’ compensation board.
Specific processes vary by state. Additionally, employees are typically required to submit a notice of return to work from their doctor to the insurer and employer. After the employee returns to work, other assistance may continue to be provided, depending on the circumstances.
How Much Does Workers’ Compensation Insurance Cost?
The cost of workers’ compensation insurance varies. Your industry, location, payroll, claims history and the type of work employees perform, along with other factors, may impact premiums.
The professionals at Cole Hixon Insurance are ready to help you get the workers’ compensation coverage your business needs. Contact us today to get started.