Do you want to know about the different types of worker’s compensation policies? Continue reading to learn more about them!
Workers’ compensation insurance policies provide employees benefits if they suffer from a work-related injury or illness. Employers are responsible for buying and providing this insurance to their employees, which is required in most states.
The workers’ compensation plans you can get from an insurance company or state fund are generally standard in the industry.
- Medical Treatment
If an employee gets a work-related injury or illness, they can file a workers’ compensation claim to help pay for their medical treatment. This can include helping pay for their:
- Doctor’s appointments
- Hospital and emergency room visits
- Medications
- Therapy and rehabilitation
- Recovery equipment
To help recover from a more severe injury or illness, an employee may need ongoing care. Workers’ compensation usually covers these costs, but it may not cover some types of alternative care, such as:
- Acupuncture
- Naturopathic treatment
- Homeopathic medicine
- Disability
Sometimes a work-related injury or illness can leave an employee disabled. Work-related disability usually falls under four categories:
- Temporary total disability means the injured employee is entirely unable to work for a certain amount of time but will return to work at full capacity.
- Temporary partial disability means they can work at a reduced capacity without needing time off.
- Permanent total disability leaves the employee completely unable to work, never returning to their previous role.
- Permanent partial disability means the employee can return to work, but they will never work at the same capacity as they did before the injury.
- Rehabilitation
Workers’ compensation can help cover an employee’s ongoing care. This includes ongoing physical therapy or vocational rehabilitation to help them learn new skills to return to work in a different role. It can also help cover any new training and certifications.
A disabled employee may also receive a Transferable Skills Analysis. This helps them find other roles in which they can learn new skills and work with their disability. A vocational counselor is usually assigned to the employee to perform the analysis and find new training or education. Most workers’ compensation programs offer two years of vocational rehabilitation. During this time, the employee can still receive financial benefits for lost wages.
- Lost Income
If an employee takes time away from work to recover from their work-related injury or illness, workers’ compensation can help replace some of their lost income. If they lose their life, that lost income can go to their family instead. The amount their beneficiaries receive depends on state regulations. - Death and Funeral Services
If employees lose their lives because of a work-related injury or illness, workers’ compensation can benefit their family and beneficiaries, such as elderly parents, children, and spouses. These benefits can help them cover funeral expenses and lost income.
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