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COID: It's about more than just ensuring your employee doesn't lose out on pay

by , 28 August 2014
When your employee has an accident that causes serious injuries, he probably can't work. The longer he spends off work, the more of a problem it becomes because he'll have to start taking unpaid leave.

This means your employee could run into financial problems while he's recovering. But that's why COID enables your employees to claim for injuries like this.

But, COID is about more than just helping your employee cover the money he loses while he's off from work. Let me explain...

 

Here's what I mean when I say COID is about them recovering your employee's pay

 
Yes, the Compensation for Occupational Injuries and Disease Act does ensure your employee doesn't lose out on pay.
 
But it does more than just that.
 
It also ensures your employee can get the medical treatment he needs. Without this money, he may not have the ability to go to hospital, get treatment or the right medication. 
 
His workers' compensation means can help him do all of this. 
 
This helps your employee heal faster than if he only had the money to go to a small local doctor who doesn't have the right medication.
 
 So what must you do to ensure your employees can get this vital aid when they have an accident?
 
*********** Reader's choice  ***************
 
COID rejects 80% of all claims! Will it reject yours?
 
 
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Here's how to ensure your employees get this financial aid when they have an accident

 
To ensure your employees get the financial aid they need, you must register your company with COID. You must also submit your statement of earnings and pay your annual assessment tariff.
 
If you don't do these things, your employees can't get vital financial aid from COID to cover their medical expenses.
 
So ensure your employees get their compensation from COID to recover their lost pay and cover their expenses.

PS: We strongly recommend you check out the COID Compliance Guide. It has everything you need to fully comply with the COID Act.
 

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