Workers compensation is a type of insurance program which insures employees for injuries and illnesses that occur due to their job. It’s mandated by the state, with each state establishing different rules for when an employer must have this insurance. Employees benefit by getting access to medical care after sustaining a work-related injury or illness as well as receiving a portion of their wages while they can’t work due to that specific condition. The rate of compensation should an employee become permanently disabled or dies as a result varies depending on the state’s regulations.


ALSO READ: Motley Fool Review: Is Stock Advisor Worth the Money? UPDATED March 23, 2020


The program began over a century ago, with the federal program the first to establish it, covering its civilian employees after an act was passed in 1908 to help workers who engaged in hazardous work. Less than a decade later, all federal employees were covered, and states soon followed. By 1921, nearly all states had workers compensation laws, and today, each one of the 50 states as well as the District of Columbia, U.S. Virgin Islands and Puerto Rico, have their own programs.

Some of the latest statistics, as reported by the Social Security Administration, show that state and federal workers compensation covered more than 135 million employees in 2015, and total wages paid to covered workers that year was over $7 trillion.

What Workers Compensation Can Cover, and What It Can’t

 


INVESTING TIP #27-- HOW TO GET FREE STOCK!

Get Up To $1,000 in Free Stock with Robinhood--the Commission-Free Brokerage!

Open a new account and receive one free stock valued at up to $500! Then, once your account is open, get more free stocks (value from $5 to $500) for each friend, family, person you refer! USE THIS LINK to get started with Robinhood!

Generally, workers compensation coverage starts the very first minute you’re on the job, through any time you’re officially on the job performing a service for your employer.  A work-related injury may not have to be the result of a single incident, for example, an illness that results from continued exposure to a chemical or chemicals in the workplace, or a repetitive stress injury like carpal tunnel syndrome.

Workers comp doesn’t cover injuries that occur during a normal work commute or during unpaid breaks and mealtimes, or accidents that happen while taking part in recreational activities. If an injury results from the fault of your own, such as starting a physical fight, while being intoxicated or using illicit substances, it’s generally not covered.

How the Claims Process Works

 

There are several obligations that both employees and employers are required to meet for workers compensation to cover a work-related injury or illness. The employer must have workers compensation insurance, or it can be fined or face a lawsuit. The employee who becomes ill or injured must report the incident to their employer right away, and typically must fill out a specific form. If this is not done within the period of time specified by their state, they may lose their right to any benefits. Employers may be required to provide their employees with their specific rights and responsibilities, but if there is any confusion, the state agency responsible for administering the program can help.

What Happens When Problems Occur

 

Workers compensation claims don’t always go smoothly. If the employer did not have the required workers compensation insurance, or if it’s questionable as to whether the injury or illness is related to something that occurred on the job, affected employees may need to take further measures, such as hiring a Pittsburgh injury lawyer, or an injury attorney in the particular city in which they work or live.



WALL STREET SURVIVOR'S BEST OF THE BEST LIST

MARCH 23, 2020: URGENT UPDATES TO HELP YOU MAKE MONEY WHEN THE MARKET IS DOWN!

The markets have dropped over 30% since their highs just a few weeks ago because of the Coronavirus, but we are starting to see more signs that this might be a PERFECT BUYING OPPORTUNITY:

#1. HOT Fool Picks in Spite of Crash. Here is why we love the Motley Fool--On Thursday, March 19, 2020 they recommended Zoom Video (Ticker ZM) when it was at $124. Today, March 23 it closed at $160, that's up 29% in 3 days! But that's not all, they also recommended it October 3, 2019 when it was at $77 so that is up 108% since they picked it back in October, in spite of the market crashing 30%. Other recent picks are TSLA, NFLX and TTD which are all UP since they were picked!

#2. Stock Prices Are Down 30%.  This is a good thing! If you are thinking of buying stocks, now's your chance to get quality companies at much more affordable prices. This offers a very attractive entry point, because stocks are ON SALE and you can now buy quality stocks for 30% less than you would have paid for them in February.

#3. More Articles Are Starting To Recommend Buying. As we are nearing the bottom of this drop, we are starting to see more articles like this: BlackRock is suggesting we may be at a "once in a lifetime opportunity", Morgan Stanley says to start buying, and Warren Buffet has a stock pile of cash and rumors are he is starting to buy.

#4. Dollar Cost Averaging Works! Since nobody knows where the bottom will be exactly, smart investors continue to invest a fixed dollar amount in the market each month. This is called Dollar Cost Averaging. That way, when the markets are down you are buying more shares of your favorite stocks at cheaper prices. This helps drive down your average cost and increase your profits when the stock market moves back up.

If you need recommendations for stocks to buy now, keep in mind that the Motley Fool Stock Advisor beat the market by over 30% the last 4 years, and they are currently recommending that NOW IS THE TIME to start buying some of those quality stocks that should make up the foundation of your portfolio. The Motley Fool Stock Advisor service is recommending at least 15 stocks that you should plan on holding for the next 3 to 5 years. So, if you need investing ideas, it is a PERFECT time to consider the best stock newsletter over the last 4 years--The Motley Fool Stock Advisor

Normally it is priced at $199 per year but they are currently offering it for just $99/year if you click this link


P.S. this offer is still backed by their 30-day money back guarantee.
P.S.S. Still skeptical? Read this complete Motley Fool Review.

SHARE
Previous articleMotley Fool Review: Is Stock Advisor Worth the Money? UPDATED March 23, 2020
Next articleOvercoming Your Fear and Greed in the Stock Market

LEAVE A REPLY