Workers’ Compensation & the Negative Impact on the Job Market
by Marissa Bushman
on Dec 26
in Economy
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Marissa Bushman
Marketing & Social Media Manager
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With the job market continuing to struggle, an influx in workers’ comp cases is not helping the matter. An increasingly high amount of employees are taking advantage of their employers and insurance companies. Injured workers are frequently cheating the system by exaggerating injuries and collecting money from workers’ comp suits.
While employees may have legitimate claims, many are slow to get back to work because there are limited job options and staying at home is just, well…easier. Other employees are working under the table at other jobs while they collect money from the insurance companies. Not only is this highly illegal, but it’s extremely damaging to the job market.
Due to the costs associated with workers’ comp, employers are finding it difficult to find this extra money. In addition to paying for the injured workers, they are also finding that their overall health insurance costs are increasing and they need to pay to onboard replacement employees.
In order to combat these cases, employers and insurance companies are taking matters into their own hands. In order to prevent workplace injuries in the first place, employers are paying extra attention to safety programs and procedures. Insurance companies, on the other hand, are paying investigators to find the employees that are being deceitful.
It’s important to know that not all employees on workers’ comp are scamming the system, in fact, most aren’t. However, for those who are simply looking to collect a simple (and illegal) paycheck, they are starting to ruin it for the rest of us. If you were wondering who to thank for rising insurance costs, now you know!
Tags: Economy, Workers' Compensation
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