{"id":186129,"date":"2024-02-21T12:33:34","date_gmt":"2024-02-21T12:33:34","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=definition&p=186129"},"modified":"2024-02-21T12:33:34","modified_gmt":"2024-02-21T12:33:34","slug":"workers-compensation","status":"publish","type":"definition","link":"https:\/\/www.techopedia.com\/definition\/worker-compensation","title":{"rendered":"Worker’s Compensation"},"content":{"rendered":"
Worker’s compensation, also known as “worker’s comp,” provides financial assistance and medical care to employees when they suffer work-related injuries or illnesses. It’s a government-mandated program that ensures employees don’t bear the brunt of medical costs or lose out on wages due to injuries sustained in the line of duty.<\/p>\n
While worker’s comp coverage varies from state to state, it generally includes the following benefits:<\/p>\n
Worker’s compensation is a nationwide program in the United States. However, each state administers its own program. For example, while most states require all employers to provide worker’s comp, Texas is an exception, as it allows employers to opt-out.<\/p>\n
The coverage and computation of benefits also varies, typically based on the worker’s average wages before the workplace injury. Other factors include the severity of the injury, plus the state’s specific formulas or schedules for different types of injuries.<\/p>\n
All employers, with a few exceptions like in Texas, are required to implement worker’s compensation insurance. It serves to protect employees and shield employers from potential lawsuits related to workplace injuries.<\/p>\n
If you’re an employer, it’s crucial to understand your state’s specific requirements for worker’s compensation. You’ll need to know which injuries are covered, how to file claims, and how to dispute claims if necessary. Note, too, that state laws change frequently, hence you need to monitor on any updates.<\/p>\n
Employers can purchase worker’s compensation insurance from a licensed insurer or through a state-funded program.<\/p>\n","protected":false},"excerpt":{"rendered":"
What is Worker’s Compensation? Worker’s compensation, also known as “worker’s comp,” provides financial assistance and medical care to employees when they suffer work-related injuries or illnesses. It’s a government-mandated program that ensures employees don’t bear the brunt of medical costs or lose out on wages due to injuries sustained in the line of duty. Coverage […]<\/p>\n","protected":false},"author":286937,"featured_media":188368,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"definitioncat":[231],"class_list":["post-186129","definition","type-definition","status-publish","format-standard","has-post-thumbnail","hentry","definitioncat-it-business-alignment"],"acf":[],"yoast_head":"\n