Workers Compensation insurance

For medical professional and facilities

What is Workers Compensation Insurance?

Workers Compensation Insurance is a type of policy that provides benefits to employees who suffer work-related illnesses or injuries. In the context of the senior living and healthcare industries, this insurance is vital due to the high risk of injury and illness that employees face in these sectors. This policy is designed to cover medical expenses, lost wages, rehabilitation costs, and death benefits in the event of a work-related incident.

What does it cover?

Workers Compensation Insurance covers the following:

  1. Medical expenses: It covers the cost of medical treatment necessary due to a work-related injury or illness. This could include doctor visits, hospital stays, medications, surgeries, and any necessary medical equipment.

  2. Lost wages: If an employee is unable to work due to a work-related injury or illness, workers compensation insurance can provide a portion of their lost income.
  3. Rehabilitation costs: If an employee needs physical therapy or other forms of rehabilitation to recover from a work-related injury or illness, these costs are typically covered.

  4. Disability benefits: If a work-related injury or illness results in partial or total disability, workers compensation can provide long-term or permanent disability benefits.

  5. Death benefits: If a work-related injury or illness results in an employee’s death, workers compensation can provide death benefits to the employee’s dependents.

Westwood will source Workers Compensation Insurance coverage which is perfect for your organization

Who needs this insurance?

 

Any organization that employs workers typically needs Workers Comp., including those serving the senior living and healthcare industries. This includes nursing homes, assisted living facilities, memory care centers, hospitals, clinics, and other healthcare providers.

Workers in these sectors are exposed to various risks such as slips and falls, back injuries from lifting patients, exposure to infectious diseases, and stress-related illnesses. Thus, it’s crucial to have insurance that protects employees and helps them recover and return to work following an incident.

Workers compensation insurance for organizations serving the senior living and healthcare industries

How much does this insurance cost?

The cost of Workers Comp. depends on several factors, including the nature of the work performed, the number of employees, the organization’s claims history, the location of the business, and the safety measures in place at the workplace.

In the senior living and healthcare industries, the cost can be higher than in less risky sectors due to the higher likelihood of work-related injuries or illnesses. However, implementing effective safety and training programs can help reduce injuries and subsequently lower insurance costs.

Organizations should work with an experienced insurance agent to understand the specific factors that may influence their Workers Compensation Insurance costs. The agent can help the organization find a policy that provides adequate coverage at a competitive price.

Workers Compensation Insurance is an essential policy for organizations in the senior living and healthcare industries. It provides critical protection for employees who are at risk of work-related injuries or illnesses, ensuring they receive the care and support they need to recover. In doing so, it also protects the organization from potential legal claims and helps maintain a safe and productive workplace.

Contact Michael Richards below for assistance with Workers Compensation Insurance  coverage

How do I get Workers Compensation Insurance cover?

Click the contact button below and contact Westwood. We’ll pass your information to one of our agents in your area. Our agent will be able to advise you of the best coverage for your business and help you put together an application that will prevent you overpaying premiums.

We look forward to working with you.

Contact Michael Richards now

Michael Richards, Westwood team member

Michael specializes in insurance for this particular group. You can call him on the number below or fill out the form and he will get your message directly:

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    If you think your client could be large and stable enough to benefit from starting or participating in a captive or has a special need for another alternative structure, contact Michael Richards now by phone: 855 351 7487.