Workers’ compensation is employer-provided insurance that must be provided to workers if a company has four or more employees. If you recently filed for workers’ comp, you may be wondering if you will receive benefits if your company shuts its doors. Since workers’ compensation is paid through insurance, you are still entitled to benefits, even if your employer goes out of business while you are receiving benefits.

In this blog, our Greenville workers’ compensation lawyers discuss the various benefits provided by workers’ compensation and what steps you should take if your employer goes out of business while you are collecting benefits.

Workers’ Compensation Benefits

If you suffered an illness or injury related to your job, you may be entitled to compensation for lost income and medical expenses. Workers may be entitled to temporary or permanent benefits, with benefits being calculated based on South Carolina law. To ensure access to these benefits, you must inform your employer of your injury within 90 days of the incident.

Lost Wages

South Carolina employees filing for workers’ comp will receive 66 2/3% of their average weekly wage (AWW), with a weekly maximum amount established each year to account for inflation. As of January 1, 2024, a worker can receive $1,093.67 in weekly benefits.

Medical Expenses

South Carolina workers may be entitled to compensation for the following medical expenses:

• Surgeries and procedures
• Hospitalizations
• Medical supplies
• Prosthetic devices
• Prescriptions
• Travel costs to the doctor and pharmacy

Death Benefits

If your loved one passed away but suffered a work-related accident or injury, you may be entitled to compensation for the following:

• Reimbursement for all medical expenses
• 66 2/3% of the workers’ AWW for 500 weeks;
• $12,000 in burial expenses.

Steps to Take if The Company You Work for Shuts Down

If the company you work for goes out of business and your claim has already been verified, you will likely still receive workers’ comp benefits. However, you will want to contact the insurance provider to make sure that your benefits are still applicable. If you filed a claim but your claim was not yet investigated when the company closed, then you may be denied benefits. If the investigation had just started, then your claims may be delayed since the investigator may have issues getting a hold of your employer. 

At Fulton & Barr, Attorneys at Law, our focus is ensuring that you receive the entirety of the benefits that you deserve. No matter what your specific circumstances, you will want to contact a Greenville workers’ compensation attorney who can advocate for you.

Suffered a Job-Related Injury? Contact Our Greenville Workers’ Compensation Lawyers Today

If you recently sustained a work-related illness or have an occupational illness, the legal team at Fulton & Barr, Attorneys at Law, want to hear from you. Our Greenville workers’ compensation lawyers have helped countless workers recover just compensation, enabling them to have the financial resources as they recuperate. To schedule your free consultation, contact us online or by phone today.