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September 10th, 2018
Feeling the “Monday Blues” is culturally accepted as commonplace for a large majority of today’s workforce. There are a number of reasons why an employee may begin the week feeling negative and tired instead of energized; ranging from feeling underappreciated or stressed in their job, to carry-over fatigue from their weekend activities. These may all possibly contribute to a Monday morning accident.
Imagine this…Monday morning, coworkers starting their day, grabbing coffee, and suddenly a mysterious injury which nobody sees occurs, leaving you with an employee writhing in pain on the floor and a workers’ compensation claim.
One of the reasons claims may be higher on Monday is because of injuries occurring over the weekend. Employees suffering an injury while away from work is a reality. According to the National Safety Council, “every 10 minutes, 729 people will suffer an injury severe enough to require a medical professional, which amounts to more than $15 million.” That adds up to $90 million in just one hour.
Statistics also show that these Monday morning claims are typically filed when the employee feels there is no other recourse and cannot afford the time away from work without pay. It is probable that most employees would not want to take this route but presenting it as a Workers’ Compensation claim may be the only way for them to make ends meet.
Many employers may not be aware that Voluntary Short Term Disability Coverage (STD) is available. This coverage is not a government benefit. Employers offering this private coverage give your employees the ability to purchase a disability plan to cover expenses if they are hurt away from the job, thus alleviating the need to go out on a Workers’ Compensation claim.
Employers can offer Voluntary Short Term Disability Coverage for free or at discounted rates to their employees. It is purchased with post-tax earnings, making it a tax-free benefit to their employees, to supplement their income while they are disabled.
Another option is an Accident Coverage Plan, which offers additional payments for accidents when they occur away from work. This additional plan may provide coverage for the entire family, giving employee’s more reimbursement overall.
When businesses promote workplace safety in addition to providing good management of health care costs, there is a very high probability your business will see a decrease in the frequency and expense of Workers’ Compensation claims and absenteeism.
Providing one or both of these to your employees is a step in the right direction.
It’s important to understand that Voluntary Short Term Disability Coverage is different from California State Disability Insurance. California SDI may cover a portion of a claim, but employers also offering Voluntary Short Term Disability give their employees the option of additional coverage in their time of need, alleviating the possibility of filing worker’s comp.
Brown & Brown is the 6th largest insurance intermediary in the country. More than 75 years of success has enabled us to identify new opportunities, adapt our solutions and services to meet changing market demands, and satisfy the various needs of our customers. Backed by national strength and local presence, with over 300 locations and 8,500 teammates strong, we have solutions to fit all your insurance needs.
Employee Benefits Consultant
Brett takes a strategic approach when assisting his clients navigate compliance and health insurance reform, providing comprehensive analysis and creative plan design for optimal benefit plan communication and compliance.CONTACT ME