Small business owners in Missouri should understand the difference between health insurance and workers’ compensation insurance. Workers’ compensation insurance provides financial protection for workers who receive injuries or are subjected to illnesses while working on the job. Health insurance benefits are provided by employers to help employees with the cost of preventative medical care and other medical expenses. It is important to note that health insurance most often does not cover injuries that are sustained on the job.
The problem for many business owners is figuring out exactly where medical insurance stops and workers’ comp begins. The main difference in the offerings is that workers’ compensation insurance only provides compensation for injuries that are sustained while an employee is working on a job. Medical insurance is the exact opposite and provides individuals with money to offset the expenses associated with illnesses and injuries that do not result from working on a job. Some employers and their workers have found out the hard way that medical insurance will sometimes specifically exclude any injury that is covered by workers’ compensation insurance.
Workers’ compensation insurance is mandatory for all companies in Missouri that employ five or more workers. The exception is companies that do business in the construction industry. These companies are required to carry workers’ comp insurance if they employ even a single person.
Disability insurance is a little different from medical and workers’ comp insurance and provides a safety net for workers who suffer a long-term disability from a workplace injury. This insurance will also provide compensation to employees who suffer injuries away from work that prevent them from working.
Navigating the maze of insurance plans that are provided by employees and available to workers may be difficult for someone who lacks professional training. The time for an employee to gain an understanding of these protections is not while trying to secure compensation for an injury. Workers with questions regarding the workers’ compensation process or who need to file a claim for injuries sustained at work may find the answers they need by speaking with an attorney.