When you open your business and start hiring, you will likely have to follow many workplace laws. In Georgia, these will likely include the rule for you to carry workers’ compensation insurance. You might not realize the full benefit of this coverage. However, it is protection for employees. Indeed, they might come to rely on it. Here is why.
Workers’ compensation is more than just free money for employees. Often, it is a lifeline upon which employees can depend in times of need. As their employer, you can provide them with a lot of reassurance with coverage.
What’s Workers’ Compensation?
In the business sense, workers’ compensation is a form of commercial insurance. Yet, money doesn’t go to the business in the event of a claim. Instead, it goes to an employee. The employee will file against the policy in case they receive an injury or illness in the course of their work.
For example, if an employee in your t-shirt manufacturing company sustains a severe injury when using the printing press, then they could have to go to the hospital. They might need surgery, ongoing treatment and even ongoing rehabilitation. They might be unable to work during this time. Their income could suffer enough under the burden of medical bills. Workers’ compensation can help the employee recover some of these costs.
The Benefit of Workers’ Compensation to Employees
Many states require businesses to carry workers’ compensation because of the service coverage provides employees. It will, in effect, act as protection when an employee gets into a bind that they didn’t plan on.
- Even if an employee has health insurance, it might not cover all the costs associated with injuries. Workers' compensation can therefore help patients cover coinsurance, deductibles and related costs. This can ease the burden of ongoing medical care.
- Coverage might help employees receive extra care their health insurance won’t cover. For example, they might be able to use it for rehabilitation costs not insured under a health plan.
- Most workers’ compensation payments come in the form of supplementary income. So, as a claimant has to devote more and more time to their recovery, they will have the money to do so. If the employee has to stop work for a period, this money can also act as a form of disability paycheck.
- Some data shows that those who get workers’ comp actually have a better chance of recovery. This can help them return to work in better shape. They can thus resume their duties with minimal interruption to the business or to them.
In short, workers’ comp will provide valuable personal support to those who work for you. They can continue to contribute to their jobs in the most-effective ways possible.
Also Read: How to Reduce Your Vulnerability to Liability Claims