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 June 1, 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

 

*** SPECIAL ALERT -- May 10, 2020 -- Motley Fool Stock Picks On FIRE! ****

The recent Motley Fool stocks picks, even with this COVID crisis, are STILL performing well and beating the SP500! Here are some of their most recent picks and their performance:
  • Shopify (SHOP) – April 2, 2020 pick and it is already up 90%
  • Zoom Video (ZM) – March 19, 2020 pick and it is already up 16%
  • DexCom (DXCM) picked Feb 20, 2020 right before the market crashed and it is still up 17%
  • Tesla (TSLA) picked January 2, 2020 before the crash and it is up 77% compared to the SP500 -12% so it is ahead of the market by 89%
  • HubSpot (HUBS) picked December 5, 2019 and it is up 4%
  • Netflix (NFLX) picked November 21, 2019 and it is up 37%
  • Trade Desk (TTD) picked November 11, 2019 and up 50%
  • Zoom Video originally picked Oct 3 and it is up 87%
  • SolarEdge (SEDG) picked September 19, 2019 and it is up 20%
  • Zoom was also picked October 3, 2019 and it is up 95% since then.
The average stock they've recommended is up a life-changing 346% - more than 4X the return of the S&P 500 ! Now, no one can guarantee that every pick in Stock Advisor will have the same mind-blowing returns as Netflix and Disney. But you sure don't want to risk missing out.

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

Hurry! Order now so you will get their next stock pick! Here is the expected schedule of release dates for their stock picks...:

  • June 4 - Tom's New Recommendation
  • June 11 - Tom's New Best Buys Now
  • June 18 - David's New Recommendation
  • June 25 - David New Best Buys Now

CLICK HERE to get The Motley Fool's Stock Picks for just $99 per Year! 

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.


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!

LEAVE A REPLY