Workers Compensation
By: Kiara Aikens, Kerri Cobb, and Tanner Cook
Brief History
Workers Compensation was first used in 2050 B.C. by the Ancient Sumerians. It was also used by the Ancient Romans, Greek, and Chinese. Congress pasted the Employer's Liability Act of 1906 and 1908, which made the employer responsible for worker injury. Today the structure is the same and people are encouraged to have workers comp insurance.
What Does it Do, and Why Does it Matter?
Workers Comp Insurance can help protect you if:
- Your employees gets an injury at work and need medical attention.
- Work-injured employees cannot work and need disability pay.
- A work related injury kills or permanently disables an employee.
- Your employee decide to waive their benefits and decides to sue your business for compensation.
Jerry
I run a major corporation and without my workers compensation insurance my company would have been sued for work related injuries. I would recommend that all business owners have it.
Donna
I was working at my job when I was injured. I had to stay at home for three weeks. Without workers compensation I would have not been able to pay my bills.
Tommy
I am a lawyer that specialize in workers comp. When employers have workers comp insurance, it makes my job easier, and also makes the lives of the employer and employee better.
Questions about Workers Comp?
Do I have to fill out paper work? Yes you have to fill out paperwork for the company, insurance, and for the medical expenses.
Is workers comp required? Workers comp is required by employers with five or more employees.
Is workers comp taxable? It is not a taxable income.