The History and Current Advantages of Workers Compensation

In the past, employers were regarded as responsible for compensating workers that were injured in their work environment. This process was a time consuming one, and it would often cost employees and employers a lot of money; often resulting in unhappy employees and employers. Over time, the government decided to make this insurance a legal requirement, and employees and employers were required to contribute to the fund to ensure that, in the event that an injury occurred or an illness was contracted, the employee could be compensated without being forced to claim from his or her employer.

Paying off Medical Expenses

Medical expenses can quickly add up, and if you are injured or contract an illness at work, you will lose out on your salary, as well as be forced to pay medical expenses to get back on your feet. Some injuries are so severe that they might leave you disabled, and this means you might not be able to return to work at all. Without insurance, you might find yourself in a lot of debt very quickly, and this trap is difficult to escape when you are unable to earn an income. Workers compensation will cover all of your medical expenses and pay you a certain percentage of your salary so that you do not have to go without due to an injury or illness.

Compensation for Time Lost at Work

When you are not working, you are not getting paid. Injuries and illnesses might force you to take leave to recover, and this could cause havoc on your finances. With workers compensation, you will be compensated for time lost at work, and this means you can take the time you need to recover without worrying about the unpaid bills piling up.

Temporary or Permanent Disability Insurance

It does not matter whether your injuries are permanent or temporary, you will be able to claim workers compensation, and this is extremely helpful, especially if you work in hazardous conditions where injury is a constant threat. An injury does not have to mean the end of a sound financial future, as long as you have insurance to cover you, and since this is now a legal requirement, your employer should make sure that you are covered from the moment you start work.

It is important to read up on and understand what workers compensation covers and what the limitations are so that you can continue working with peace of mind, knowing you are covered in the event that the worst should happen. Knowledge is power, and you can obtain this information from official and nonofficial sources; it does not matter where you get it as long as you have it!

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