Most people know the very basics of workers comp insurance and that is that it is an insurance paid into by employers that covers employees who get injured on the job. However, there are a lot of other interesting facts that you may want to know about it. Here are some of those interesting worker's comp facts:
Not all employers offer worker's comp
The laws regarding worker's comp insurance depends on the state you work in and can also depend on the number of employees the company has. In some states, a company isn't required to carry worker's comp unless they have a certain number of employees.
An employee can wave their right to worker's compensation benefits
If an employee would rather sue the company they work for with regards to their injuries, then they can do so. However, in order to do this, they would need to waive their right's to worker's comp. If they ended up losing their lawsuit, they would have already waived their rights to those worker's comp benefits and would therefore not be able to claim them.
Accepting benefits means employees can't sue
If an employee does follow through with accepting any worker's comp benefits, then they will no longer have the option of suing their employer, as they would have given up that right.
Worker's comp doesn't cover pain and suffering
Something an injured employee may want to consider is worker's comp won't cover pain and suffering. Therefore, if an injured employee when through a very painful injury, then this may be something they want to consider when deciding whether they want to collect worker's comp benefits or go with their own lawsuit.
Employees don't necessarily need to have been injured at the workplace
In most cases, worker's comp will cover an employee while they are on the job, no matter what location the injury occurred at. This means, if they are injured at another location while doing something for their job and they end up being hurt or even getting in an accident on the way to or from either location, then worker's comp will likely cover them.
Worker's comp has deadlines
If an employee is hurt, they don't want to wait to see how bad the injury is and end up taking their time filing a report. It's best to file the report right away in order to make sure they don't miss out on any deadlines that may make them no longer eligible for the benefits.