What is Workers’ Compensation Insurance?
In honor of Labor Day, III is reflecting on workers’ compensation insurance and its role as the backbone of workplace safety. The system that protects workers and businesses is more than a legal requirement; it is a key piece of ethical business practices in the modern age.
As you clock in to your scheduled work shift, the last thing on your mind is experiencing an on-the-job injury. The most common types of workplace injuries are often preventable; this can include overexertion from lifting a heavy object, tripping on an uneven surface, or contact with equipment. Luckily, workers’ compensation insurance exists to protect not just the employee but the company where the accident occurred. Each state mandates workers’ compensation coverage, so individual wages and medical benefits vary.
If you do find yourself injured on the job, you may have a lot of questions. Such as, when do you need workers’ compensation? How does it work? What does it cover? Find out all you need to know below!
What is Workers’ Compensation? The short version is that workers’ compensation is a special type of insurance that companies over a certain size are required by law to enroll in. The insurance is used to cover any medical care, lost wages, compensation, and rehabilitation for an on-the-job injury. The insurance is also a ‘no fault’ system, meaning that employees who are injured cannot sue their employer for the injury that occurred.
What do you do if you’re injured on the job? The first step is to seek medical care, not just for your well-being but to document your injury for your medical records. If you do not require medical attention, your employer may choose the doctor you visit to document your injury. The second step is to inform your employer; they may have you fill out an internal incident report. Be sure to grab a copy for your records. Reporting the incident to your employer begins the process; they will create a file to submit to their respective insurance carrier. Once the insurance carrier approves the claim, you will begin receiving benefits. The final step is to keep track of all records or bills accumulated while receiving ongoing medical care for your injury.
How does it work in Iowa? The state has time limits for workers’ compensation claims, meaning that you first must report an injury within 90 days. The state of Iowa covers accidents or injuries on the job, illness from exposure to chemicals or allergens, and repetitive strain injuries. The benefits provided can range from medical care, such as driving to and from appointments, to accessing temporary disability payments and permanent total disability payments. Additionally, you may receive missed wages, ongoing medical care for the injury, and death benefits for spouses and dependents.
How to Prevent Accidents? The majority of workplace accidents are often preventable, and you can help keep everyone safe by following safety procedures and using safety equipment. To prevent slips and falls, be sure to clean spills immediately, use proper signage to indicate a wet floor, and ask to install handrails in high-traffic areas with stairs. If using box cutters or sharp tools, keep them in good shape to prevent hazardous edges and provide proper training to new employees before use. Finally, if you are frequently lifting objects, use proper lifting techniques and aids when possible.
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