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Revealed: One thing you might not know about COID

by , 06 January 2015
You probably know COID gives your employee compensation if he has an accident at work. You know you need to register as an employer, even if you only have one employee.

You know the Commissioner assesses business each year then charges them a tariff and you have to report any accident to the Commissioner.

You might think you know everything there is to know about COID. But that might not be the case.

There's something even I didn't know about COID until a few days ago.

Today I'm going to tell you what it is so you can handle your employee's accident claim correctly...

 
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Here's the one thing you might not know about COID

 
Let's say your employee trips over loose tools in your workplace and hurts his ankle. You take him to the doctor. He says it's just a mild sprain he can carry on work as normal with crutches. 
 
He also prescribes your employee some pain killers and anti-inflammatories. 
 
Now your employee doesn't have a temporary disability that stops him working, for even one day. 
 
You might think COID won't give your employee anything in this situation. But that's not 100% correct.
 
This is the one thing you might not know about COID. According to the COID Compliance Guide, in this situation, COID will reimburse your employee for his medical expenses. But it won't give him any other kind of compensation. 
 
So if your employee starts demanding to know where the rest of his injury compensation is, explain this COID rule to him. 
 
But if your employee has a temporary disability that keeps him off work for three days or more, it's a different story. 
 
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Here's what happens if your employee's accident keeps him off work for more than three days

 
If we take that same scenario I used earlier. But this time, the doctor says it's a severe sprain and your employee can't work for two weeks. Now, COID will do more than just pay for his medical expenses.
 
In this situation, you must keep paying your employee 75% of his salary but don't use his sick leave days while he's off work. COID will then pay you back this money. This acts as your employee's compensation. 
 
If the accident happened because of your negligence as an employer, the Compensation Commissioner might make you give your employee more compensation. 
 
But what about if your employee's accident leaves him with a permanent disability?
 
In this situation COID will give your employee either, a lump sum payment or a monthly pension depending on his disability percentage
 
The lump sum is a once off payment over and above his medical expenses. 
 
If COID gives your employee a monthly pension, you won't need to pay his salary at all. 
 
As you can see, if your employee's injury stops him working for any length of time, COID will give him additional compensation. But if it doesn't, it will only cover his medical expenses. 
 
Now that you know, make sure your employees understand when they will and won't get additional compensation from COID. 
 
Check out the COID Compliance Guide for everything you need to know about COID. 
 


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