After filing a claim for workers’ compensation, naturally, you want to see your benefits. Most companies are required to some type of workers’ compensation policy. However, who insures the business may vary from state to state. In most cases, there are three different ways that a business can insure itself. Keep in mind that no matter how your employer insures his or her business, your benefits will still be the same. You are still entitled to the same compensation, however, how you still need to know the organizations that you work with.
Many states allow companies to purchase workers’ compensation insurance. They purchase it from private companies. Now, not all states allow this. Some states require that a business uses state programs. If your employer has a private insurance company that handles the workers’ compensation claims, then it is an insurance company that will send you the benefits.
If an employer has a company large enough, he or she will be able to self-insure. In order for the state to allow companies to do this, the company has to prove that it has enough assets to cover any expected workers’ compensation liability. The company will usually have a third-party administrator that administers the claims for the employer. This administrator will take care of the claims processing and any paperwork involved. In this case, you would be receiving your benefits from the company itself, rather than a third-party program.
There are state-run insurance funds in most states. The state’s department of labor or commerce is what handles these types of programs. When it comes to the state program, most states will allow you to choose between an insurance company or the state program. Most often, when a business decides to use the state-funded programs, it is because it is a small business or there are few workplace injuries for the employer to be worried about. In this case, you would receive your benefits from the state department.
When it comes to workers’ compensation, your first priority is usually to receive the benefits that you deserve. You may be wondering when you will receive your benefits and who will send it to you. It all depends on the type of insurance that your employer has. Keep in mind that most businesses are required by law to have some form of workers’ compensation insurance. If you need help navigating your workers’ compensation claim, contact a workers’ compensation lawyer, like a worker’s compensation attorney in NY, today.
Thank you to the experts at Polsky, Shouldice & Rosen, P.C. for their expertise and input into worker’s compensation law.