About Worker’s Compensation Insurance
There’s a good chance that you’ve heard about workers’ compensation insurance the first time you got hired. In fact, there’s a good chance you may have even received workers’ compensation benefits from the company you work for. Unfortunately, there aren’t too many employees thinking about the workers compensation insurance the company they work for offers and in the long run, this can have negative consequences for their financial wellbeing and overall health.
The majority of employees do like the fact that in the event they get hurt at work, their employer will cover the cost associated with the accident, but accepting your employer’s workers compensation is not always a good idea. In fact, there are many advantages and disadvantages associated with this and if you don’t have a good understanding of how this works, then you won’t be able to make a great decision for yourself.
The History of Worker’s Compensation Insurance
Back in the nineteen hundreds, if you would hurt yourself at work, you had to sue your employer in order to prove that they were at fault for the accident. Back then if you injured yourself while working, you had to live with a permanent disability, look for another job or deal with lost wages. The reason it was so difficult to get compensated for your injuries in the nineteen hundreds is because you had to basically prove that you got hurt because of the unsafe work environment. To make things worse, the majority of employees could not afford the costs associated with suing their employer. Luckily, in order to protect employers, labor unions pushed for workers compensation insurance, so by nineteen forty nine, employers in every state had to offer their employees some form of workers compensation insurance.
These days, this type of insurance is more than money for lost wages. Based on where you live, it can actually provide you life insurance for your dependents (in the event you die on the job), pay for your medical bills and also for your lost wages.
How It Works
If you work and injure yourself on the job, then you’d have to speak to a supervisor and report the injury to him or her. The law also grants you access to medical care. If your injury makes it impossible for you to work, then your employer needs to pay you money for lost wages. How long you get money and how much depends on the state you work in. While your employer’s workers compensation insurance can help cover a lot of expenses associated with your injury, there are some trade-offs to accepting it.
Accepting Your Employer’s Worker’s Compensation Insurance
You’d be surprised of the number of employees that accept their employer’s workers compensation insurance without second thoughts. So what happens when you do this is that you’ll basically waive your right of being able to sue the employer. Do you remember what we said earlier? In the past, people could not afford suing their employer and that is the main reason why these days employers need to offer workers compensation insurance to their employees.
WCI is there not only to cover the costs of lost wages and medical bills, but also to protect employers from getting sued. So with that in mind, how can you know whether you’ll be treated fairly or not after accepting your employer’s WCI?
Fair Treatment and How to Make Sure You’ll Get It
Generally speaking, most people agree to the fact that accepting your employer’s workers compensation insurance is a good idea. Employers will do everything they can in order to help you get better and also prevent similar accidents from happening in the future. However, each accident is unique and that is why prior to accepting your employer’s WCI, you need to speak to an attorney.
In fact, speaking with a lawyer is very important if you have an injury that you fear may turn into a permanent disability or if your injury is life threatening. If you’d like to learn more about WCI then you may want to check out the WCI website. There you’ll find a lot of information that can help you understand the laws regarding workers compensation insurance in your state. It even has forums and resources by state for injured employees along with personal stories from them.