Workers’ Comp Lawyers
Workers’ compensation is an employer’s insurance that pays benefits to employees who are injured at work or become disabled on account of their employment.
Buchanan, Williams & O’Brien have been a trusted law firm serving Missourians for over 40 years.
- Committed to always treating clients with courtesy & respect
- Benefit from the unrivaled experience of our statewide team of lawyers
- Trust the proven success we’ve delivered to clients for decades
Missouri Workers Compensation Class Codes
Insurance companies use workers’ compensation class codes to classify types of employment. Each category has a specific risk level. The higher the risk, the higher the premiums are for an employer. Therefore, it is important for companies to consider the risk classifications relevant to their business before making any insurance purchase.
Class codes might change when you complete a payroll audit and yearly premium. Sometimes, an insurance auditor might switch the codes around, so you need to understand each class code to see how a switch in class codes impacts your level of insurance.
Determining which codes are relevant for you could be a challenging and confusing exercise. If you’re in Springfield, consider contacting a workers compensation lawyer in Springfield, MO for assistance.
Benefits of Workers Comp Missouri
The workers’ compensation coverage provides benefits to those who have work-related injuries by providing coverage for:
Medical and rehabilitation expenses
Lost wages while the employee is off work
Compensation for permanent disability or impairment
Death-related costs to the surviving spouse and family in case of a death on the job.
The amount of benefits paid depends on the severity and nature of the injuries.
Confused about workers’ compensation in St Louis? We are here to answer your questions.
Workers Comp Insurance Cost
Workers’ comp insurance is purchased by a company and underwritten by an insurance company to protect the company’s employees and the business.
The cost of workers’ compensation insurance varies on a number of factors, including:
The state where your employees are located
Number of employees on payroll
The type of industry
The work type
Your company’s claims history
You are more likely to pay higher rates for workers’ comp coverage if your business has more employees or has riskier practices. This is because workplace injuries are more likely to happen in those circumstances.
Insurance companies may also set different rates depending on the size of your business. You can use the following formula to estimate your workers’ compensation insurance premiums:
Workers’ class code rate* claims experience modifier* (payroll/100)= premium compensation insurance
There are a few tips that can reduce your workers’ compensation insurance premiums. Examples are:
Employee training: when employees are trained to do their roles properly, they are likely to reduce work injuries. As a result, your premium will be reduced.
Safety standards: when employees are educated on safety measures, it prevents falls, slips, and injuries to other body parts.
Property maintenance: providing a clean and safe environment means your employees are likely to be safe from harm.
Contact workers’ comp lawyers in Joplin to get a complete picture of how much your workers’ compensation insurance costs.
Missouri Workers Compensation Chart
The Missouri division workers’ compensation chart is a tool used to calculate potential permanent partial disability benefits based on compensation rate, where the injury is on the body, and the disability percentage. It is a useful tool that is straightforward to use.
If there is no specific level for the injured body part, the beneficiaries can claim a whole body disability until a medical professional determines the disability percentage.
How Much Are Workers Compensation Benefits in Missouri?
The answer to this question depends on the types of injuries and the extent of the injuries. Use the Missouri division workers’ compensation chart to calculate an approximate amount of compensation benefits.
Note that the maximum and minimum rates for permanent total disability are the same as temporary total disability benefits.
Does Missouri Have a Workers Compensation Fee Schedule?
Yes, Missouri has a medical fee schedule for workers’ compensation.
There are two types of workers’ compensation fee schedules: Relative Value Scale (RVS) and the Usual Customary Reasonable (UCR) fee schedule.