Workers
comp was established many years ago as a benefit-type system
that safeguards any worker hurt or injured while on the job.
The Department of Labor and Industrial Relations and the Division
of Workers Compensation administers the day-to-day operation
of the system.Workers compensation insurance provides coverage
for an employee who has suffereed an injury or illness from
job-related duties. Coverage includes medical amd rehabilitation
costs and lost wages for employees injured on the job.
Prior
to the establishment of workers compensation insurance, employees
who got hurt of injured on the job could only pursue their
employer for compensation through civil or tort law. Workman
compensation insurance allows businesses to provide benefits
to sick or injured or employees while protecting themselves
from high dollar lawsuits. There are some specific federal
laws that allow certain types of protection to specific types
and classes of workers.
1.
The Jones Act provides military personnel the chance to seek
benefits called "cure and maintenance" when a worker
is injured as a direct result of negligence by the employer
while working on any type of U.S. vessels;
2.
The Federal Employment Liability Act (FELA) holds railroad
employers liable for employees' injuries resulting from the
railroad's negligent actions.
3.
The Longshore and Harbor Worker's Compensation Act (LHWCA)
gives workers comp benefits to particular types of private
naval employers.
4.
The Black Lung Benefits Act provides compensation for miners
who may be suffering from "black lung" disease (pneumoconiosis).
Employee Wage Protection. From a worker's standpoint, worker's
compensation provides at least some level of protection in
the event they suffer a job-related accident or illness. In
most states, worker's compensation insurance will pay a disabled
employee approximately 50% of their lost wages for a set number
of weeks, generally not to exceed six months, which is when
social security disability benefits would kick in.
Medical
Compensation. Benefits are regulated by each individual state,
but other possible benefits range from payment of medical
bills to a financial award or settlement for either a partial
disability (i.e. loss of one hand, limb or eye) or a permanent
disability, such as blindness.
Why
do you need workers' compensation insurance?
Without
adequate coverage the employer is exposed to two types of
risks. First , if an employee is injured on the job, the employer
may be held personally liable for both the cost of their medical
care and for lost wages while the employee is unable to work.
Second, many states imposes strict fines and penalties for
employers who are cited for not having the required insurance.
Workers
compensation insurance is required by law in most states .
Do
you know that the state of Florida requires all employers
with four or more employees (1 or moe if in the construction
industry) to obtain and maintain workers' compensation insurance
for on -the-job injuries?
Failure
to provide this would make you company subject to an immediate
stop-work order and may face a penalty of 1.5 times the amount
the employer would have paid in insurance premiums for the
uninsured period.
Need
Workers Compensation Insurance?
We
have teamed with one of the largest insurance agency - The
Hartford as well as other agencies to provide workers compensation insurance for your
employees . Premiums are calcualated based on your payroll
for accuracy and timely deposits made. Rather than paying
for insurance up to a year in advance and tying up vital cash,
premiums are paid as you go one payroll period at a time!
The insurance premium you pay depends on your employees job
description i.e administrative, delivery person , construction
etc
