It provides
insurance to cover medial care and compensation
for employees who are insured in the course of
employment, in exchange for mandatory
relinquishment of the employee's right to sue
their employer for the tort of negligence.
The
tradeoff between assured, limited coverage and lack of
recourse outside the worker compensation system is known
as "the compensation bargain." While schemes differ
between jurisdictions, provision can be made for weekly
payments in place of wages, compensation for economic
loss, reimbursement or payment of medical and like
expenses, and benefits payable to the dependents of
workers killed during employment .
General damages for pain and
suffering, and punitive damages for employer negligence,
are generally not available in worker compensation
plans. Cash benefits are established by state formulas
with maximum benefit level. The benefits are
administered on a state level, primarily by the state
department of labor.
How does it work? California's workers' compensation act provides an
example of a comprehensive state compensation program.
It is applicable to most employers. The statute limits
the liability of the employer and fellow employees.
California also requires employers to obtain insurance
to cover potential workers' compensation claims, and
sets up a fund claims that employers have illegally
failed to insured against.
Note: All the
above information are subject to change without notices.
Inexpensive Health Care
$2.10
per day
It is
known as a scheduled benefit health insurance plan.
