Hurt on the job?
Did you or one of your employees get hurt on a job?
Are they going to be out of work for an extended time period?
If you are answering either of these questions with yes, you probably want to know how long before my employee starts collecting Worker’s Comp for lost wages.
Waiting Period
New York Worker’s Compensation policies are in place to cover injuries or illnesses that occur at work or on a job site.
Worker’s Compensation policies have a built-in waiting period of 7 days for lost wages.
Once an employee is out of work for 7 consecutive days they will be able to start collecting for lost wages. If the injury or illness keeps you out of work for longer than 14 days, you will be reimbursed for the initial 7-day waiting period.
Worker’s compensation lost wage benefits are subject to a maximum weekly amount. The weekly benefits maximum will be two-thirds of their New York average weekly rate, calculated from the previous year.
Medical Expenses
Even though lost wages has a waiting period of 7-days. Medical Expenses will kick in immediately. Trips to the doctor, ambulance rides, or physical therapy costs will all be covered by the Worker’s Compensation policy immediately.
What’s Next?
The cost for your business to carry Worker’s Compensation will vary based on several factors. These factors include type of industry you are in, the number of employees, past Worker’s Compensation claims history and many more.
If you have questions regarding your Worker’s Compensation coverage for your business in New York, reach out to an independent insurance agent who can help you understand your specific needs, and what coverage limits you as a business owner should have to be protected.
If you don’t have a relationship with an agent or want a review of your insurance then click the button below to schedule a review with one of our trusted insurance advisors.
