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four business workers with a piece of a puzzle, coming togetherWhen the time comes to buy workers’ compensation insurance, many business owners struggle. This is a complex form of insurance. Yet, it is also one of the most important types for you to have. What makes it more complex are the details. Knowing what type of benefits a policy offers is challenging. Here is a closer look at some of the most important components of your policy. Do you know how extensive your coverage is?

Workers’ compensation insurance usually provides coverage that falls into four areas. Each one provides a specific type of benefit to the injured worker depending on the incident.

Medical Treatment

The primary component of most policies is this one. Medical treatment provides coverage for costs an employee hurt on the job may incur when going to the doctor or getting care for his or her medical injuries or illness. Most of the time, this component covers:

  • Emergency medical needs
  • Doctor’s appointments
  • Hospital visits and stays
  • Medications
  • Therapy
  • Medical equipment including wheelchairs and crutches
The extensiveness of this coverage depends on the situation. Most often, a person’s coverage depends on the state’s requirements. Keep in mind, pre-existing medical conditions might limit coverage.

Disability Coverage

Most workers’ compensation insurance plans include disability payments. This can help the worker to obtain payment of their current wages while he or she is unable to work.

How much the policy pays out depends on the level of loss present. For example, if an individual has temporary but total loss, he or she cannot work for a period of time at all. Someone with permanent total loss may be eligible for their wages long-term. Other classifications exist as well. You might qualify for temporary, partial disabilities, where you may be able to work part-time, but still get benefits.

Rehabilitation Coverage

Sometimes, after a person suffers injury, he or she needs help to get back to fit condition to work again. This may include physical therapy, for example. Workers’ compensation insurance can help to pay for this type of care. It can also help to provide a person with lasting injuries with vocational help to learn a new skill.

Death and Funeral Services

If a person dies on the job, workers’ compensation can sometimes cover those financial losses. It can cover the lost income of the individual and funeral expenses. Additional expenses and losses may also apply here.

Workers’ compensation insurance is usually comprehensive. It offers a wide range of protections for companies. Without it, you may have to pay for these costs out-of-pocket. For more information on workers' compensation benefits, contact us today at (225) 292-7680

Also Read: Keep Restaurant Injuries at Bay With a Risk Management Plan

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