Workers’ Compensation insurance was set up as a means of protecting employees who were hurt or killed in the workplace. This package provides employee benefits such as wage replacement while recuperating, needed medical procedures, medication, rehabilitation supplies, and facilities.
By agreeing to a workers’ compensation package, employees who become injured on the job gain assurance that their needs—if injured or killed on the job—will be covered.
The employer agrees to take out a workers’ comp insurance policy in accordance with the laws of the state. The employer may even decide to take out workers’ comp insurance where it is not state mandated or in addition to what the state mandates to make sure workers are well looked after in case of workplace mishap.
When employers decide to take out a workers’ comp policy, their choices and the range of policy costs are wide and complicated. Often, they are bewildered by the coverage alternatives and options.
State-Run Workers’ Comp Funds
Some states—currently 22—have set out to simplify Workers’ Comp insurance for employers.
In these cases, Workers’ Comp funds are operated under the jurisdiction of state departments such as labor, commerce, or industrial relations.
Workers’ Comp funds are insurance providers with good financial reputations. When a small-business owner cannot afford or qualify for insurance from a private insurer, the company can apply for the state workers’ comp fund.
Some state-run workers’ comp funds are independent. Others fit into a nonprofit category and qualify for tax incentives.
Workers Compensation Fund
Costs involved in settling worker claims are paid from the workers’ comp fund. This means the insurer has to have made enough on the premiums levied to the businesses to be able to pay off workers’ claims.
Workers Compensation Fund Claims
When it comes to dealing with Workers Compensation Fund claims both the employer and employee are often overwhelmed with forms and decisions. That’s why it’s always wise to seek the assistance of a law firm that specializes in workers’ comp claims.
Whether you are an employer whose employee is making a claim or an employee who has been hurt on the job, competent lawyers who have experience and expertise in Workers’ Compensation law can help you complete the right forms, provide accurate information and avoid missing deadlines.
There are many issues and complexities when making a claim. That’s why it is crucial to engage the services of experienced lawyers who specialize in Workers’ Comp claims.
First, your attorney will meet with you to see if you have a legitimate claim. Then the law office will help you fill out the correct forms and file by due dates.
It’s vital you contact an experienced workers’ comp law firm immediately. Otherwise, you might miss the window of opportunity for collecting medical information and filing a claim.