What Is Workers' Comp Insurance?
You're probably aware that if you get injured on the job you're eligible for workers compensation. But what does that mean? Workers' compensation insurance covers a variety of work-related injuries and illnesses.
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Workers' Compensation Mandates
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Workers' compensation insurance is a state-mandated insurance program that pays benefits to workers injured on the job. Employers are required by state law to either buy into the state workers' compensation insurance program or become a certified self-insured employer.
Why You Need It
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Workers' compensation insurance protects the employee from incurring serious medical debt or a total loss of wages due to an on the job injury. When employers cover a worker under the workers' compensation program, they receive immunity from civil lawsuits relating to the accident or incident that may have caused the injury.
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What Benefits Are Paid?
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Basic benefits covered include: death benefits, vocational rehabilitation and job displacement, temporary and long-term disability and medical care.
Are You Covered?
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Certain types of contractors and other kinds of employees may not be covered for workers' compensation. Check with your employer regarding the specific regulations in your state.
Time Limits
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An employer must be told of an employee injury on the job within a set time period for workers compensation benefits to take effect. Time periods vary by state and type of injury.
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