When you are injured at work and your employer tells you that they do not have workers’ compensation Insurance because they are self-insured, it might be concerning. You may be wondering what having a self-insured business means if you have been injured o become ill at work for your workers’ compensation claim.
In Florida, it is required to have workers’ compensation insurance if the company has four or more employees. The insurance company will pay workers compensation benefits when the company has an injured employee. However, a company can also insure themselves if that’s what they wish. This means that if an employee gets injured the business will have to cover all the expenses instead of an insurance company.
A business usually chooses to self-insure their liability of workers’ compensation because they save money on paying third party companies and because they have more control over the workers’ compensation claims in which they would grant or deny them. An employer must go through an application procedure and achieve certain financial conditions to lawfully run a self-insured workers compensation program.
Self-insurance is just less expensive for companies in some circumstances. Some companies believe that covering the expenses of employee injuries on their own is more cost-effective than paying premiums, deductibles, and other costs connected with insurance coverage. While self-insurance may be less expensive for some organizations, self-insured employers are obligated by law to give the same amount in workers’ compensation as an insurance company.
If your employer is self-insured it doesn’t affect your claim but as an experienced workers compensation lawyer, we can say it does make it harder. Usually, when a business is self-insured, they will fight more aggressively to try to deny any claim because everything comes out of their pocket. However, this doesn’t mean that a third party would fight less to pay the injured victim the minimum amount.
If your employer is self-insured, they are the ones that decide whether or not your workers’ compensation claim is approved or denied. Primarily, this is the main difference between submitting a claim with a self-insured employer and an employer who works with an insurance company: all claims’ negotiations will be handled by your employer. If your claim is granted, your company will cover your medical bills, lost wages, and other liabilities. You will not have to rely on an insurance carrier to get workers’ compensation benefits as an employee of a self-insured company.
If your claim is being denied by your self-insured employer, you must consult with an experienced workers’ compensation attorney today. It makes no difference whether or not your employer believes you are truly injured. It is your right to take time off work to undergo medical care.
Or if you or someone you care about has been injured at work, contact the Law Office of Ruth E. Johnson immediately.
Remember when injured you get to choose your legal counsel, so have an experienced, aggressive, knowledgeable l team that aims to get you the most compensation for your losses. Choose the Law Office of Ruth E. Johnson.
If you want to know more information about workers’ compensation, please visit our page for further information here.