There is no mystery to the reason. From a back injury to the slip and fall, employee injuries cost employers millions of dollars each year in medical costs and time lost from work.
But just because workers’ compensation is required, it doesn’t mean there aren’t effective ways to mitigate its cost. Knowing what works and where to find savings can make a considerable difference in your workers’ compensation cost structure.
Workers compensation is a type of insurance coverage that protects your employees in case of injury or disease during the course of employment. Policies can provide coverage for:
- Medical expenses
- Lost income/wages
- Rehabilitation costs
- Death benefits