We’ve all heard about it, but what is Workers’ Compensation, exactly?  Workers’ comp, as it is commonly known, is not just a type of workplace benefit- it is required by law. New York law requires employers to provide Workers’ Compensation coverage for all their employees, but full- and part-time. What is it for? Workers’ Comp protects employees who are injured ( while on the job. The coverage also pertains to staffers who sustain illnesses due to exposure to products manufactured by an employer. It is a policy whose coverage begins on the first day of employment. The policy protects employees who file an insurance claim relative to injuries sustained while on the job and mandates that the employee cannot be terminated for filing a claim.

There are a wide range of injuries that are covered under a Workers’ Compensation policy. The most common are falls, however here is a list indicative of the types of claims that are submitted under a business’ Workers’ Comp policy:

It is important to note that such claims are not necessarily restricted to injuries that are caused by a one-time event. This means that it can also cover claims, no matter how minor or severe, that may have developed over time due to conditions at a manufacturing plant, commercial facility, or even in an office setting.

Employers and their staffers often ask Grillo & Associates, “How much does Workers’ Comp pay?” The correct answer is: “It varies.” At the onset, cash benefits are paid for the first seven days only if the disability extends past 14 days. This means that if an employee is out of work for less than two weeks, that the individual will not be entitled to collect cash benefits for the first week.

Those who are unable to work for fifteen (15) days, they will be eligible to receive cash benefits for the first seven days to be received along with their current employment benefits. An employee’s Workers’ Comp benefit will be 2/3rds of their weekly wage prior to sustaining the disability, multiplied by the percentage level of their disability. There is a ceiling on the amount that an injured, sick, or disabled employee can receive under the Workers’ Comp plan. That amount is $934.11 per week.  Also, the injured employee is entitled to receive direct medical care for their injuries and/or illnesses.

Grillo & Associates, as a leading insurance firm in New York, will be glad to assist any employer to understand the finer points of this mandatory insurance coverage. We can also provide greater insight into the entire Workers’ Compensation claim submission process, for both employers and their staff. Bring us your questions and we’ll assist you to understand better how this coverage benefits all parties. Learn more by contacting our team today.