Common Questions You Might Have about Worker’s Compensation Insurance

No matter what industry you’re in, it is mandated for business owners to have worker’s compensation insurance in place for emergencies.

While it is not mandated in every state of the United States, having such indemnification only safeguards business owners in the long run.

Herein, business owners can be assured of their most valuable assets; the employees. The indemnity covers medical expenses or loss of wages for employees in case of an injury at the workplace. It also takes care of any disability that may have been caused due to an accident, temporary or permanent.

Here are some common questions  you might have about worker’s compensation insurance.

Is insurance necessary?

Well, worker’s compensation insurance is necessary for every type of business. Such indemnity safeguards the financial interest of the employers by protecting them against any liability.

The insurance is not required in Texas, but in all the others, you are legally mandated to have this, and a hefty fine is levied on those who fail to do so.

How to choose the best policy?

When choosing the best insurance plan and provider, your sole deciding factor must differ from the price, as this indemnification goes beyond it. You must look at other factors such as coverage, ease of claims, customer support, company reputation, etc.

For instance, you must focus on care facilities, return-to-work programs, support staff, anti-fraud systems, and the handling process of the company. These factors will help you make a better decision.

Can a person be fired for filing a worker’s compensation claim?

No, as an employer, you can not fire an employee just because they have filed for a worker’s compensation claim. It is not only unethical but also illegal in many states.

Can the business owner choose the medical provider?

You must clear it out with the insurance provider, and the exact rules also vary from state to state.

In some states, the employee must only visit the doctor chosen by the employer or the insurance provider. This ensures the employers and the provider that the employee is in safe hands and the claims come from a trusted source.

Depending upon the company, you may also be able to choose from a list of a network of doctors.

Is there a way to reduce workplace injuries and accidents?

Yes, promoting a workplace culture of safety and precautions is one of the most effective ways to reduce such accidents and injuries.

The potential safety hazards at the workplace must be recognized and fixed so that you can follow the best safety practices.

In addition, constant training of the employees and the workers along with procurement of top-notch safety equipment is a sure shot way to reduce accidents at the workplace.

Moreover, you can also consult the insurance provider to help make a  workplace safety   plan that covers all the basic instructions. They can clear any common questions regarding safety guidelines and other best practices, such as wearing PPE kits or other protective equipment that could provide protection.

So, these are some frequently asked questions about worker’s compensation indemnity.