Does Workers’ Compensation Cover Prescriptions?
After an employee sustains a work-related injury, you may be wondering what expenses are covered by your workers’ compensation insurance carrier. What are considered “medical costs”? Is it possible that your business could be financially liable for any expenses? What about things the little things that often get overlooked, like prescription costs? Who pays for them?
In most states, workers’ compensation carriers cover all medical expenses caused by a work-related injury, including prescriptions. For example, in Florida, your company’s workers’ compensation insurance carrier is responsible for paying for an employee’s medical prescriptions related to their work injury if the initial claim is approved. Depending on the severity of an employee’s injury, your carrier may wind up paying a significant amount in prescription costs for a long time. That’s why it’s important to have reliable workers’ compensation coverage for your business.
At NPN Brokers, our team works to pair your business with the right workers’ comp insurance policy. Forget the hassle of researching insurance companies; NPN Brokers can find the best plan for your business. To get affordable, reliable coverage to protect your company, call the Florida insurance brokers for workers’ compensation at NPN Brokers today at (866) 340-9120.
Does My Business’ Workers’ Compensation Insurance Cover Prescriptions?
Each insurance company offers different types of workers’ compensation coverage. Some may not provide adequate coverage or may try to avoid paying the full amount of an employee’s medical prescription costs. That’s why choosing a dependable, transparent workers’ compensation coverage plan is so important. Without a reliable policy, your company could become financially responsible for an employee’s injury-related prescription costs.
Most states will require workers’ compensation insurance companies to pay for an employee’s prescriptions related to their work injury. Suppose you don’t have workers’ comp insurance. In that case, your company can be held financially responsible for those prescription costs and may even face additional penalties for failing to have the proper insurance coverage.
Once a claim is settled, your company’s workers’ comp insurance will likely be held responsible for all medical costs caused by a work-related injury. That includes treatments and medications prescribed by a doctor. These fees can add up, which is why it’s important to have reliable coverage when you need it most.
Of course, there are exceptions. Your insurance company isn’t required to pay for medical bills or prescriptions when a workers’ compensation claim has been denied or if your carrier is in the process of challenging it. In that case, expenses can be delayed until the case is settled – at which point they may even get dismissed altogether.
At NPN Brokers, we work to match Florida businesses with workers’ compensation insurance policies. We understand how costly coverage can be, which is why we work with insurance companies that offer Pay-as-You-Go plans for our clients. The Florida workers’ compensation insurance brokers at NPN Brokers can help your company find reliable, affordable workers’ comp coverage.
What Prescriptions Does Workers’ Compensation Cover?
Suppose one of your employees sustains a work-related injury and requires medication. In that case, your insurance carrier will be liable for the cost. Does that apply to all prescriptions an employee takes? Is there a way to lessen those costs?
Generally, workers’ compensation insurance carriers can’t dispute medications prescribed by a doctor to help an employee with a work-related injury. However, your insurance carrier may not have to pay the cost of prescriptions if a workers’ compensation claim is in the process of being challenged.
Regardless, insurance companies don’t have a say in the prescriptions an injured employee needs to take. That’s up to a medical professional. Once a workers’ compensation claim is settled, your insurance carrier will most likely have to pay the cost of prescriptions. It might also have to reimburse an employee for prescription costs that piled up before the settlement.
Your insurance carrier won’t be responsible for other medications an injured employee takes, just the ones prescribed post-accident. While your insurance carrier can’t object to medications prescribed by a doctor, you may be able to periodically ask for medical reassessments of an employee’s needs. Should an employee no longer need certain medications for their work-related injury, your insurance company will not have to keep paying the costs.
How Can I Find Workers’ Compensation Insurance That Covers Prescriptions?
Workers’ comp coverage for prescription coverage is essential for all businesses. A reliable policy can protect your company from the potential financial burden that comes with the prescription costs of a work-related injury. But some coverage plans require audits, deposits and are too expensive for small businesses. That’s where NPN Brokers comes in.
Our team only works with workers’ compensation insurance companies with no audits, no deposits, and no contracts. Even better, NPN Brokers can match high-risk industries with affordable workers’ comp coverage. Companies in industries prone to work-related injuries that result in medical prescriptions can have difficulty finding affordable workers’ comp insurance. The Florida insurance brokers for workers’ compensation at NPN Brokers can help your business find dependable and reasonable coverage that can protect your company in case an employee needs regular prescriptions due to a work-related injury.
Because your business is liable for medical costs related to a work injury, including ongoing prescriptions, the expense of a claim can be huge. That’s not the only reason it’s important to have workers’ comp insurance, though. More importantly, most states require that businesses have workers’ compensation coverage. For example, in Florida, any employer with four or more employees must have coverage. If they don’t, companies can face large financial penalties. Avoid the fines by finding a coverage plan that suits your needs.
So, workers’ comp insurance is important, but who has the time to find the right plan to cover an injured employee’s prescription costs? It can take valuable time to find the right policy, something most business owners don’t have. If that sounds like you, try working with the NPN Brokers. Our experienced Florida workers’ compensation insurance brokers can take the time to sort through all the policies out there to find the one that best suits your business’ needs.
Call NPN Brokers for Workers’ Compensation Insurance Coverage Today
If an employee gets injured at work, you’ll be glad you called NPN Brokers. For a reliable, affordable policy, call the Florida workers’ compensation insurance brokers at NPN Brokers today at (866) 340-9120.
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