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All Oregon employers must provide workers'
compensation coverage for their employees
to pay for the costs associated with workplace
injuries and illness. Expenses for physicians,
hospitals, clinics, rehabilitation and
medicine must be covered entirely. Employees
who are unable to readily return to work
after an injury are eligible for compensation
during their time off.
Oregon employers have two methods of discharging
this responsibility. The first is to purchase
insurance and the second is to self-insure.
Until just a few years ago, most employers
in the construction industry were simply
too small to meet the State's security
requirements for self-insurance. Historically,
only larger contractors have been able
to take advantage of the cost savings
and customized services associated with
self-insurance. But now, there is way
for small and mid-sized employers to reduce
their costs: participation in OCWCT.
Hundreds of Oregon construction employers
have used their trade associations as
a stepping-stone to join OCWCT. Each has
benefited from the outstanding service
and net-cost approach unique to the way
self-insured trusts manage the expenses
of workers' compensation risk.
Here is a summary of some of the major
benefits these employers have come to
expect from Trust membership:
- Lower ultimate cost-of-risk
- Increased control over the process
- Employer-based governance
- Nonprofit pricing policies
- Hands-on loss prevention services
- Employer-sensitive claims service
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