Worker’s Comp or Disability

If you are not able to work as a result of an illness or injury, you may be eligible to receive workman’s compensation or disability benefits.

Depending on the circumstances, you may be one or the other, or both.  If you are injured or become sick on the job you are generally covered by state worker’s compensation laws.  By law, employers are required to have workman’s compensation insurance for their employees except for a few situations.  The benefits from this insurance will help cover lost wages and medical expenses.  However, in terms of wages, you will only recive a portion (about two-thirds in most cases).  However, in many states if you own a significant portion of the company (say 10% or more), then you will not be covered by worker’s comp. If you are in this category personally then you would need separate disability insurance to cover lost wages if you are out of work for an extended period of time.

Now, if you are unable to work for an extended period of time and  whatever caused this circumstance, injury or a health issue, then you may be covered by disability insurance.  Disability benefits kick in for some employees who are  unable to work for an extended period of time (either after 60, 90, or 180 days depending on the policy).  This is separate insurance that covers you for lost wages if you are unable to perform your current job for an extended length of time.

If you have worked and paid into Social Security, you may be able to collect benefits if you have a medical condition that meets their disability requirements.  These benefits will be payable after you have been out for 180 days.

Disability Insurance

That’s why many financial experts refer to disability coverage as a “forgotten” safety net. While many Americans help protect their family’s financial future with life insurance, only a small fraction of today’s workers have set up a plan for disability. [….]


How to Qualify for Social Security Disability Benefits

While I’ve talked about the importance of having disability insurance in the past, a lot of questions still arise regarding Social Security disability benefits. […]


Supplemental Disability Insurance

Group disability coverage at work has its place. It is usually very inexpensive and, quite honestly, people don’t think much about it. It’s a cheap add-on when signing up for life insurance during annual open enrollment. […]


Workers Compensation Administration Services

Workers Compensation Administration Services

Workers’ compensation administration services offered by PEOs include Workers’ compensation reporting, Workers’ compensation safety plans, and much more.

Workers’ compensation administration services are one of the comprehensive services offered by PEOs or Professional Employer Organizations. Workers’ compensation refers to a type of insurance that involves providing medical care compensation for employees who have been injured while working in an organization.

This is provided in exchange for the employee relinquishing the right to carry out legal action against the organization for negligence. Workers’ compensation sometimes has a flexible administration, as a disability insurance, health insurance or life insurance.

Companies outsourcing their workers’ compensation administration to PEOs can experience multiple benefits. As is the case with all HR responsibilities that are outsourced, PEOs take care of all the processing and paperwork involved, handling insurance audit claims and also maintaining OSHA records and all other necessary records and documents.

PEOs also enable their client companies to choose from multiple coverage options, and this is easy since they have strong associations with multiple insurance providers. Client companies are therefore offered competitive rates that would add to their profitability. The workers’ compensation administration services offered by PEOs generally include:

Workers’ compensation reporting

Workers’ compensation risk reduction services

Workers’ compensation safety plans

Information about regulation

Claims management, which includes, apart from managing and processing claims, investigating fraudulent claims and preparing workers’ compensation hearings

PEOs enter into a co-employment relationship with client companies, taking over the employer responsibilities and managing the risks while the employers control their employees at the workplace.

Along with workers’ compensation administration services, PEOs administer employee benefits, provide payroll services, offer innovative recruitment and selection solutions, ensure regulatory compliance, manage employer liability, and more. A PEO helps employers concentrate on improving their business operations, while it leaves no stone unturned in efficiently carrying out the HR tasks.

Workers Compensation Administration Services
Takes Over Your Burden of Handling Insurance Premium Audit Claims and Keeping OSHA Records

By Chris Walton
Published: 12/8/2008