Michael Saltzstein Provides Insight on Worker’s Compensation
The law of a country has provisions for certain benefits for the employees working within any industry. One such advantage available to employed people is the ‘worker’s compensation. Michael Saltzstein is a visionary of financial structures, global risks, strategic planning, multi-line claims and worker’s compensation.
Worker’s compensation is the legal insurance that employees can claim if and when they suffer an injury within their workplace. In case the worker falls ill as a direct result of the work that they do, then too the insurance can also be claimed. It is the sole responsibility of the employer to do so, the employee does not have to pay for this compensation in any way. The Worker’s Compensation Board is there to process a claim of this category to the advantage of the employees; it is a state agency.
The amount of this compensation remains fixed and does not vary as a result of either the employer’s fault or the worker’s fault. However, there are two situations when an employee can be denied this compensation outright, which include:
- When the worker had the intention to hurt himself or some other co-worker and then got injured.
- When the worker is found to be under the influence of alcohol or any other intoxication during the accident.
The injured employee’s medical costs and the ensuing wage replacement due to an injury at the workplace are covered under this insurance informs Michael Saltzstein, a veteran in handling worker’s compensation cases and other cases of financial risks. Including this compensation in the policies of the business is a compulsion that needs to be adhered by every business, irrespective of its size.
The worker’s compensation must not be considered an advantage just for the employees, the employers too benefit from this. This IS because in case of an injury the company does not have to pay out of their pocket since the compensation is already covered by the insurance company. However, if the company does not this included in its protocols it becomes a headache for the business owners to compensate the costs and leads a lot of conflict and confusion within the work place.
Additionally, if an injured employee ever decides to sue the company, they will not be able to do if the worker’s compensation is already present in the terms and conditions of the company at the time of recruitment. This is possible since in many of the states, as would agree expert Michael Saltzstein, this insurance also covers the employer’s liability insurance. This will help pay for all the legal fees.
Worker’s compensation is one such insurance preferred by all employees since it provides massive support in case the worker gets injured at the workplace. However, what should be known about this insurance is the areas it does not cover. Some of them include:
- Anyone who suffers a heart attack
- One-time common ailment such as influenza or a headache
- Repetitive mental trauma
- Any medical condition of the employee that existed at the time of being hired
It is thus better to have a clear idea of what a worker’s compensation covers and what it doesn’t.