Maryland workers comp insurance is a type of insurance that provides medical and wage benefits to employees who are injured or become ill due to their job. It is a legal requirement for most employers in Maryland to carry workers comp insurance to protect their employees and themselves from financial loss in the event of a workplace injury or illness. Although workers comp insurance is standard for most businesses, there are still many questions about workers comp, what it covers, and how employers and employees can use it to their advantage. Read more to learn about the top five questions concerning Maryland workers comp insurance and why it’s necessary for a thriving business.
1. What is covered under Maryland workers comp insurance?
Maryland workers comp insurance covers medical expenses, lost wages, and other related costs that may arise due to a workplace injury or illness. Medical expenses may include doctor visits, surgeries, hospitalization, and prescriptions. Lost wages may include payments for missed work due to injury or sickness. It is important to note that workers comp insurance does not cover injuries or illnesses that occur outside of work or are self-inflicted. Additionally, most workers comp insurance does not cover pain and suffering or punitive damages.
2. Who needs Maryland workers comp insurance?
Most employers in Maryland are required to carry workers comp insurance. This includes employers with one or more employees, full-time or part-time. Some exceptions include sole proprietors, partners in a partnership, and certain independent contractors. Employers who do not carry workers comp insurance may face fines and legal penalties. Suppose an employee is injured on the job and their employer does not have workers comp insurance; In that case, the employer may be held personally liable for the employee’s medical expenses and lost wages.
3. How to obtain Maryland workers comp insurance?
Employers can obtain workers comp insurance through an insurance agent or broker. Shopping around and comparing policies is essential to ensure the best coverage at the best price. Employers may also choose to self-insure, meaning they cover the costs of workers’ comp claims themselves. Most workers comp policies require employees to file a report within a few days of the injury or illness to claim benefits. This report notifies the commission of the damage and begins filing a workers comp claim.
4. What to do when a workplace injury occurs in Maryland?
When a workplace injury occurs in Maryland, the employee should seek medical attention immediately. The employer should be notified as soon as possible, along with an injury report. The employer should investigate the incident to determine the cause and take steps to prevent similar incidents from occurring in the future. The employee should keep all medical records and receipts for the injury or illness to submit with the workers’ comp claim.
5. How long does an employee have to file a workers comp claim in Maryland?
Employees have 60 days to make claims for most unintentional accidents that do not result in death. An employee’s family who perished in an accident has 18 months to file a claim. The injured employee or the employee’s family has two years to file a claim for occupational sickness.
Add Maryland Workers Comp Insurance to Your Business ASAP
Maryland workers comp insurance is an essential protection for both employers and employees. It provides medical and wage benefits to employees injured or who become ill on the job and protects against lawsuits. Employers should ensure they have the appropriate workers’ comp insurance coverage and take steps to prevent workplace injuries. Employees should know their rights and responsibilities in the event of a workplace injury or illness. By doing so, employers can run a profitable business where employees feel safe.