What is it?
Workers Compensation Insurance provides medical and wage benefits to employees who are injured or fall ill on the job. It is coverage that is mandated in most states and failing to provide coverage for employees can result in fines. If you do not have Workers Compensation Insurance and an employee is injured or becomes ill, you could be sued for their medical expenses and lost wages.
If an employee is injured or falls ill on the job, the following coverages may extend:
- Medical expenses: Costs incurred for treatment for a work-related injury or illness.
- Lost wages: A portion of the wages lost during the time an employee is unable to work.
- Rehabilitation costs: Cost for additional treatment required to restore lost skills or abilities as a result of an injury or illness.
- Death benefits: If an employee is killed on the job, their dependents may be able to receive a portion of the employee’s wages. In some states, there may also be coverage for funeral expenses and legal fees if the employee’s family sues the employer.
How does it work?
- If you have a loss: Call us at (303) 597-1667 as soon as possible for claim assistance.
- Workers Compensation Insurance is paid for solely by the employer, and no portion of the cost can be deducted from an employee’s wages.
- Coverage will only extend to an employee that is injured or becomes ill as a result of their job duties or employment.
- If an employee has reported an injury or illness, the employer must submit the First Report of Injury form to the Worker’s Compensation Insurance carrier.