5 Reasons Why Ohio Workers’ Compensation is Important for the Economy

For many injured workers in Ohio, workers’ compensation can provide the necessary resources needed to cover medical expenses and bills until the employee can return to work. In other ways, it can also benefit the economy as well. Listed below are five reasons how Ohio workers’ compensation can benefit the economy:

  1. Workers’ compensation protects companies from costly and time-consuming lawsuits after an accident. Before workers’ compensation laws were in place, treatment for employee injuries was paid directly by the employers and often had to be settled in court. This cost Ohio companies millions and wasted valuable time that could have been spent building successful businesses. Now companies do not have to be involved. Employees can file reports directly with the BWC and insurance pays the unexpected costs, not the employers.

  2. Workers’ compensation helps get workers back on the job as soon as possible. According to the CDC, absenteeism and lost productivity related to illnesses and injuries costs the U.S. economy $225.8 billion a year. This is an average of $1,685 per employee, per year, which is a crippling amount for many Ohio small businesses. Workers’ compensation allows employees to get the treatment they need right away, thereby getting them healthy and back to work as soon as possible, minimizing the economic impact of those missed days.

  3. Workers’ compensation improves workplace safety, minimizing the disruptions caused by on-the-job accidents. Accidents at work cause serious disruptions and lowered levels of productivity—a main drain on the economy. BWC safety efforts have helped workplace injuries drop more than 10 percent over the past five years.

  4. Workers’ compensation decreases employee dependence on opioids, making workers better able to perform at their best upon return to duty. Drug addiction costs businesses hundreds of thousands of dollars every year due to decreased employee productivity. In Ohio, the workers’ compensation pharmacy management program has helped decrease opioid doses by 37 percent since 2010, helping ensure injured workers don’t fall prey to addiction. When they return to work, they are less likely to bring down productivity and contribute to a slower economy.

  5. Workers’ compensation strengthens Ohio businesses and makes them competitive in the U.S. and around the world. With better employee safety and lowered costs to employers, Ohio workers’ compensation has a major impact on the success of our companies. This makes Ohio businesses better—allowing them to succeed here at home and abroad.

As you can see, workers’ compensation isn’t just there to protect employees who have been hurt. It’s here to protect us all—and make our economy stronger.

That being said, if you have been hurt at work, workers’ compensation benefits you individually. If you have questions about your workers’ compensation rights, call the Ohio workers’ compensation attorneys at Kademenos, Wisehart, Hines, Dolyk & Wright Co. LPA today at (419) 625-7770 to set up your free legal consultation. We have experienced personal injury attorneys who are certified specialists in workers’ compensation.