AH 3278 Lecture Notes - Lecture 5: Cash Flow, Indirect Costs, Paraplegia
Document Summary
Module 5: employer costs and responsibilities associated with worker"s compensation. Wc as a source of disability benefits is surpassed in size only by the federal social security disability (ssdi) program and medicare. Provide cash and medical benefits to workers with disabilities who become unable to work properly to normal retirement age. Paid 143. 4 billion in wage replacement benefits. 93. 4 billion for medical and hospital care. Anywhere from 500 to several thousand in annual workers" compensation premium. Some states allow you to pick which one. Some states require all companies have insurance through the state. Some companies are exempt in some states. Pay an annual premium to the insurance company. Based on payroll, company size, type of work performed and claim experience. Insurance companies can give discounts to companies who show that they have implemented safe work practices such as a safety program and drug policy. Assume all financial risks and provide the medical and compensation benefits to their injured employees.
