What is Workers' Compensation?
How Does the Workers' Compensation Work?
What are the Four Types of Workers' Compensation Benefits?
1. Medical Coverage
Medical Care Management: Supervise care to ensure the injured staff gets proper treatment and return to work as quickly as possible.
Provider Network: This is a group of healthcare providers and doctors who have contracted an employer or insurer to provide medical services, usually giving a discount. These professionals should have training in occupational medicine. Some states make it a requirement for injured staff to get treatment from providers within the network.
Pharmacy Benefit Manager (PBM): This is a prescription drug program administrator whose function is to control costs. A PBM negotiates deals with drug suppliers, establishes formularies, pays claims for prescription drugs, and smoothens contracts with pharmacies.
Utilization Management: A procedure designed to makesure that the type of medical care provided to staff iscost-efficient, necessary, and appropriate. Providers may be expected to get prior approval before some medical procedures are performed.
Temporary Partial: The worker is only partially disabled because of a short-term injury. A worker generally gets their reduced pay (for work they can perform) plus a percentage of the difference between the worker’s regular wage and their reduced salary.
Temporary Total: The worker is disabled by the injury and is unable to work for a short time. Benefits are paid out over the disability duration. Generally, they are based on a percentage (such as 66.666%) of the worker’s average weekly salary.
Permanent Partial: The worker has suffered a lifelong disability that prevents them from earning as much money as they did before the accident, such as hearing loss. Some states split partial permanent disabilities into two categories: schedule and non-schedule.
Permanent Total: The worker suffered a permanent injury that they cannot recover from. As a result, the worker cannot gain additional income by doing the type of job that they were doing at the time of the accident. A permanently and fully disabled worker usually earns 66.666% (or any other defined percentage) of his average weekly salary for the rest of his life. Benefits stop in some states when the worker hits the official retirement age.
What is a Third Party Administrator for Workers' Compensation?
How Does FMLA and Workers' Compensation Work Together?
How to Qualify for Both FMLA and Workers' Compensation
How Long Can You Receive Workers' Compensation Benefits in California?
How Many States Require Workers' Compensation Insurance?
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How Does Social Security Disability Affect Workers' Compensation?
How Social Security Determines the Offset
Applicable Limit (Highest Possible Amount of Benefit)
How Much Does Workers' Compensation Pay in Texas?
Temporary Income Benefits
Supplemental Income Benefit
Supplemental Income Benefit
What are Federal Workers' Compensation Benefits?
What are the Different Types of Workers' Compensation?
Missed Wages: If your employee is forced to miss work, the worker’s insurance can cover the missed wages.
Health Bills: The accrued work injury-related medical expenses.
Repetitive Injury: This category can be related to back injury or chronic carpal tunnel issues. If a repetitive action at work causes the injury, medical care is covered for that injury.
Illness: If something at work causes an illness, it is also part of the policy to cover the medical bills for that.
Disability: The insurance must cover all medical costs and missed income if the incident or illness has caused permanent disability to the employee.
Funeral Costs: The policy covers the cost of interment in the devastating event that an employee loses his or her life on the job.
Ongoing Treatment: If there is a need for ongoing medical attention after the incident or injury, medical treatment is provided.