What Does Workers’ Comp Cover?

If your employee suffers a work-related injury or illness, workers’ compensation benefits can help cover their:

• Medical expenses
• Lost wages
• Ongoing care costs
• Funeral expenses

Medical Expenses

Workers’ comp insurance provides coverage to help your employee pay for medical expenses related to a work-related injury or illness. This can include emergency room visits, necessary surgeries, and prescriptions. For example, if one of your electricians cuts their hand at a customer’s home, workers’ compensation insurance can help cover their hospital visit.

Missed Wages

Workers’ comp helps replace some of your employee’s lost income if they need time off to recover from a work-related injury or illness. So, if your restaurant chef spills a pot of boiling water on her arm and cannot work for two weeks, workers’ compensation coverage can help replace some of her lost wages.

Ongoing Care

Some work-related injuries or illnesses can be so severe that they need more than one treatment. For example, if your warehouse employee hurts their back while lifting heavy boxes, workers’ comp insurance can help cover their ongoing care costs, like physical therapy.

Funeral Costs

In the unfortunate event your employee loses their life from a work-related accident, workers’ compensation coverage can help cover their funeral costs and provide death benefits to your employee’s beneficiaries.

Let our agents help you understand your state’s requirements by law for your business and protect your most essential assets.

Lower your workers’ compensation premium

If you are looking to lower your workers’ compensation premium, take a look at your experience mod. Experience Modification Factor is a calculation of your claims history. But what does that really mean? Think of it as a comparison. It is the ratio of the costs of your company’s actual workers’ comp claims compared to the expected costs for other companies of similar size in the same industry. You may hear people refer to it as an experience rating, experience mod, E-Mod, and EMR.

Your MOD can be above or below the industry average of 1.0. Above meaning, it’s worse than the industry average and below means better. But you can improve your E-Mod by taking the following steps:

•  Set up an effective claims management program
• Develop a return-to-work program
• Create a safety program
• Investigate every accident
• Require employee safety training
• Initiate employment screenings