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OSHA Report Highlights Economic Costs of Workplace Injuries

The economic costs as a result of workplace accidents to injured workers and their loved ones is enormous. The National Safety Council estimates that the cost of fatal and non-fatal work injuries were $198 billion in the year 2012. This figure should be shocking to US taxpayers and injured workers who are the ones that bear the majority of these costs.

Additionally, the costs to injured workers continue for years to come. A recent study found that injured workers who receive workers’ compensation benefits for wage loss caused by workplace injuries lost an average of fifteen percent (15%) of their earnings over the 10 years following their workplace injury. Even if you include the workers’ compensation benefits, injured workers’ incomes are, on average, almost $31,000 less over 10 years than if they had not been injured. This figure does not reflect those injured workers who do not enter the workers’ compensation system due to employer’s fraud or lack of insurance coverage (just to name two).

Adding insult to workplace injury, these costs have a greater impact on lower-wage earners and some large costs are not included considering the impact these injuries have on their loved ones. Injured workers loved ones often reduce their hours or even quit their jobs in order to care for an injured worker causing a dramatic reduction in a family’s income which often lead to financial ruin.

If you or a loved one has been injured in the State of Florida and would like to discuss your rights please call Payer & Associates. All consultations are free and 100% confidential.

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