Sometimes, employees sustain injuries while working at their workstations. Depending on the severity of these injuries, some end up being unable to work temporarily or permanently. In such cases, the employer is obligated to pay the victims what is known as workers’ compensation benefits. Sometimes, the injured employees might desire to work again, even if it is in a lower-risk capacity. At other times, they may consider changing their career, especially if their injuries impede them from working in the same capacity they used to.
In this guide, we will discuss what would happen to your compensation benefits if you decide to pursue another career.
You can change jobs when you want, even while you receive compensation benefits from a former employer. However, doing this will likely affect your benefits regardless of whether the new job is full-time or part-time. If you are considering working in a different industry or capacity, you need to understand the following:
While changing jobs won’t necessarily stop your benefits, it will impact the amount you will receive. That is, your pay rate will reduce, and you will be paid less than you ordinarily would. Further, if the new job pays as much as your current job, the benefits will be stopped altogether.
Understandably, you may need to take new jobs to account for the financial gap the compensation benefits are unable to fill. However, regardless of the reason behind your decision, your benefit payment will reduce.
To prevent this from happening, you can decide not to report any income you receive. However, this will make you guilty of insurance fraud, which is punishable by law.
Injured workers still receiving compensation benefits usually consider a job or career change for several reasons. These include:
If your reason is any of the above, you might remain eligible to receive partial compensation benefits.
Several injured workers often find new jobs appealing for different reasons, both financial and personal. However, starting a new job comes with many risks and disadvantages. These include:
Keep in mind that your employer is not legally mandated to save your job for you in these instances. Consequently, your position may already be taken over by the time you make a full recovery. Additionally, your employer is not legally required to offer you an alternative position. So, ensure you heal entirely before starting a new job, or you will lose on both ends.
If you are currently facing such a scenario, we can help. At Abatelli Insurance, we are always available to talk more about your options. Contact us today to learn more!
Workers’ compensation is beneficial in two ways, and this is in the process of protecting the employees and protecting the employers. It makes sure to provide adequate coverage for either the employees or employers in case of an unexpected occurrence.
Benefits of Workers’ Compensation for Employees
Some of the things a successful worker’s compensation claim can yield funds for include:
The knowledge that your employer has an adequate workers’ compensation policy will give you peace of mind and an assurance that your financial security won’t be threatened should you get hurt on the job. This is, if neither your employer nor their carrier challenges your compensation claim. It is therefore important to seek legal counsel where a seasoned attorney will advocate on your behalf before commencing your claim and finally help you achieve the compensation you deserve, as there are many common hurdles when making a worker’s compensation claim.
Benefits of Workers’ Compensation to Employers
However, by purchasing workers’ compensation insurance, business owners or employers no longer have to worry about covering their employee’s injuries from their own pockets. The insurance policy offers coverage for this.
This shouldn’t cause employers or organizations to implement negligent protocols, as there will be repercussions. Organizations are still required to maintain a safe working environment for the employees, as anything otherwise can expose them to litigation, regardless of their current coverage.
Perhaps you were seriously injured at your workplace and wish to take legal action; a personal injury attorney can be of great help. Talk to the team members at Abatelli Group, Inc. to find out how we can protect your business from unforeseen circumstances. With reliable commercial insurance, we can help your business if it is located in Whitestone, Flushing, Bayside, Little Neck, or surrounding cities of New York. Contact us today to get started.
Workers’ compensation insurance is a necessary business expense. Not only is it mandatory in many states, once it is in place, it will also protect your business from financial loss if an accident does occur. In addition to providing employees with workers’ compensation insurance, it’s up to you to make sure they have a work environment that is safe and free from hazards. Taking the necessary precautions is the best way to ensure your workers remain safe on the job.
Most states require that businesses carry workers’ compensation insurance for their employees. There is an exemption that would exclude businesses from purchasing workers’ compensation insurance, but they would still need to self-insure their employees through a different type of policy. In most cases, it is better to purchase the workers’ compensation policy simply because it is specifically designed to cover work-related injuries that may impact your employees’ future.
Most insurance companies and brokers offer workers’ compensation insurance. These policies can be found online through larger companies, or you can choose to buy from a local agent who is familiar with your area and can be hands-on in determining the type and amount of insurance for your business. You may be able to get the workers’ compensation coverage you need from a state-funded program. Because the insurance is mandatory, many states offer assistance in helping companies make sure they remain in compliance.
While some states don’t require workers’ compensation for companies that have fewer than five employees, it’s still a good idea to provide some type of insurance coverage. The amount of workers’ compensation you need will depend on how many employees you have and the type of work they do. The nature of your business will determine how much your premiums will cost you each month. In most cases, the more employees you have, the more cost-effective your policies will be. Understanding how the cost is determined will give you an idea of how much you will have to pay for each employee.
The key to buying the right workers’ compensation policy is to find the right insurance agent or broker. The appropriate agent will listen to your concerns and answer any questions you may have. They will be able to guide you through the process, so you can understand your premium costs and how the claims process works once an injury has occurred. Your insurance agent will be the person you go to when you need proper compliance with state guidelines involving workers’ compensation coverage.
As a business owner, it’s up to you to be compliant with state guidelines. Securing the right workers’ compensation doesn’t have to be difficult. The right agents are here to help you. For the right workers’ compensation insurance policy, contact our expert team at Abatelli Group, Inc. today. We serve Whitestone, Flushing, Bayside, Little Neck, and surrounding cities of New York with reliable coverage. We are ready to assist you with all of your insurance needs.