Maximizing Your Workers’ Comp Benefits: 4 Reasons to Report Claims Promptly
Employees often look to their employer for more than just a paycheck; they also count on the company to provide support in the form of health insurance, a positive work environment, and safe working conditions, to name a few. If an employee is injured on the job, they should also be able to rely on their employer for assistance in getting the care they need and navigating the workers’ comp claim process.
Timely reporting of a claim is a critical step in the care of an employee. It not only benefits the injured worker, but it is also in the employer’s best interest. At LWCC, part of being Louisiana Loyal means providing the information and resources policyholders need to best protect themselves and their employees. In our decades of service to Louisiana businesses, we have observed nearly every claim scenario possible, and the numbers simply do not lie. Timeliness of reporting is among the most important factors in avoiding some of the most frustrating and costly claims complications.
1. Early Claim Reporting Saves Money
Studies have shown that the longer it takes to report a claim, the more costly it becomes. Waiting seven days from the incident to the time of reporting has been shown to increase costs by as much as 11 percent. This number jumps to 30 percent after two weeks, and 45 percent if an entire month is allowed to pass.
2. Delayed Claim Reporting Hurts Employees
Addressing an employee’s injury quickly means that they are able to receive the care they need and expedite their return to work. When left to linger, an injury could become exacerbated, lengthening the road to recovery and costing the employee valuable work time. Furthermore, failure to address a claim in a timely manner can negatively impact the morale of the injured worker, as well as other employees.
3. Claim Investigations Rely on Timely Reporting
When a workers’ compensation claim is filed, a certain amount of investigation must be conducted to establish the facts and extent of injury, and to determine if the claim is compensable under workers compensation laws. This includes factors like drug testing of the employee, speaking to witnesses, and identifying any hazards that may have contributed to the accident and could continue to pose a threat. The more time that passes between injury and investigation, the more difficult and time-consuming the claim process becomes.
4. Late Claim Reporting May Have Legal Ramifications
Among the reasons a claim becomes more expensive with the passing of time is the increased likelihood of litigation. When a claim is taken seriously and handled swiftly, employees are less likely to feel the need to seek legal representation. In addition, fines or penalties may be assessed for a claim that is not reported within a required timeframe. In Louisiana, in the event of an injury that results in a death or more than one week of lost time, employers must notify their carrier within 10 days so that a claim can be filed timely with the Office of Workers’ Compensation.
File a Louisiana Workers’ Compensation Claim
If you are an employer who has recently encountered a job-related injury, it is vital to report the incident and begin the claim process as quickly as possible. For LWCC policyholders, a claim can easily be started online, over the phone, via email, or via fax. Our complete guide to claim reporting covers all of the details needed to get the process started, and our agent partners are always available to help.
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