Workers’ compensation insurance is an important form of protection for employees in New York.
Like many other states, New York law requires employers to carry workers’ compensation insurance coverage to protect their employees.
Workers comp insurance in New York provides financial support for workers who sustain injuries or become ill on the job. This coverage also covers medical expenses associated with the injury or illness and lost wages due to missed work as a result.
In this article, we will discuss how workers’ compensation insurance works in New York, what benefits it can provide, and how to make a claim under New York’s workers’ compensation laws.
What Is Workers’ Compensation?
Workers’ compensation is a type of insurance required by law to be purchased by employers to protect employees from losses due to on-the-job injuries or illnesses. It helps with:
- Covering medical treatment
- Rehabilitation expenditures
- Lost earnings when an employee becomes ill or injured due to their employment-related activities.
Workers’ compensation is not only helpful for employees but the business too in that it shields companies from lawsuits brought about by workplace mishaps and protects the business from legal penalties.
How Does Workers’ Compensation Operate?
To be eligible for worker’s compensation payments in New York, an employee must disclose an illness or injury to their employer within 30 days of the incident. This report must contain information regarding the injuries and be accompanied by any medical records demonstrating that the employee’s job-related activities were the direct cause of the injury.
The NYS Worker’s Compensation Board must receive a claim from the employer after receiving this report (WCB). After reviewing the claim, the WCB will decide if it qualifies for benefits.
What Does It Cover?
If the WCB approves the claim, the injured or ill employee may receive financial compensation for their medical expenses and partial reimbursement for their lost wages. Generally, these benefits cover up to two-thirds of an employee’s average weekly wage.
Other forms of compensation, such as physical rehabilitation, may also be available depending on the situation.
Additionally, surviving family members may be entitled to death benefits and funeral expenses if an injury results in death.
Note that workers comp does not cover injuries that occur outside of work. Also, employers may try to deny valid claims, so injured workers must be aware of their rights under New York law. Employers may offer alternate settlement forms, such as lump-sum payments, but you should only accept these after seeking legal advice.
Who Pays for Worker’s Compensation?
Employers must carry workers’ compensation insurance in New York. It means that the costs of the insurance premiums are often covered by their payroll budgets. Businesses should maintain track of their premium payments because missing a deadline could result in significant penalties from the WCB.
How Do I Make a Worker’s Compensation Claim?
You must complete the relevant form, which is available on the WCB website. Your claim will be processed through the claims process after submission before making a decision. You might be asked to submit further evidence or paperwork to back up your claim.
The Bottom Line
In summary, workers’ compensation insurance is a crucial component of employee protection in New York since it offers financial support to those who suffer an injury or illness at work.
The state’s workers’ compensation laws guarantee that, in the event of an accident or illness, employees will be provided with the required benefits. It is also a legal requirement for all employers in New York, and failing to carry it could result in severe penalties.
With a better understanding of how workers comp insurance in New York works from the information highlighted above, you can make sure that you and your employees are well protected.
