Workers' compensation in the context of "Fees"

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⭐ Core Definition: Workers' compensation

Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for the tort of negligence.

The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain.” One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that and thus to ensure security of compensation to the workers.

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Workers' compensation in the context of Public welfare

Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. pensions), as opposed to social assistance programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury.

More broadly, welfare may also encompass efforts to provide a basic level of well-being through subsidized social services such as healthcare, education, infrastructure, vocational training, and public housing. In a welfare state, the state assumes responsibility for the health, education, infrastructure and welfare of society, providing a range of social services such as those described.

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Workers' compensation in the context of Social democracy

Social democracy is a social, economic, and political philosophy within socialism that supports political and economic democracy and a gradualist, reformist, and democratic approach toward achieving social equality. In modern practice, social democracy has taken the form of democratic socialism, a robust welfare state, policies promoting social justice, market regulation, and a more equitable distribution of income.

Social democracy maintains a commitment to representative and participatory democracy. Common aims include curbing inequality, eliminating the oppression of underprivileged groups, eradicating poverty, and upholding universally accessible public services such as child care, education, elderly care, health care, and workers' compensation. Economically, it supports income redistribution and regulating the economy in the public interest.

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Workers' compensation in the context of Fee

A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead, wages, costs, and markup. Traditionally, professionals in the United Kingdom (and previously the Republic of Ireland) receive a fee in contradistinction to a payment, salary, or wage, and often use guineas rather than pounds as units of account. Under the feudal system, a Knight's fee was what was given to a knight for his service, usually the usage of land. A contingent fee is an attorney's fee which is reduced or not charged at all if the court case is lost by the attorney.

A service fee, service charge, or surcharge is a fee added to a customer's bill. The purpose of a service charge often depends on the nature of the product and corresponding service provided. Examples of why this fee is charged are: travel time expenses, truck rental fees, liability and workers' compensation insurance fees, and planning fees. UPS and FedEx have recently begun surcharges for fuel.

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Workers' compensation in the context of Occupational medicine

Occupational and Environmental Medicine (OEM), previously called industrial medicine, is a board certified medical specialty under the American Board of Preventative Medicine that specializes in the prevention and treatment of work-related illnesses and injuries.

OEM physicians are trained in both clinical medicine and public health. They may work in a clinical capacity providing direct patient care to workers through worker's compensation programs or employee health programs and performing medical screening services for employers. Corporate medical directors are typically occupational medicine physicians who often have specialized training in the hazards relevant to their industry. OEM physicians are employed by the US military in light of the significant and unique exposures faced by this population of workers. Public health departments, the Occupational Safety and Health Administration (OSHA) and the National Institute of Occupational Safety and Health (NIOSH) commonly employ physicians specialized in occupational medicine. They often advise international bodies, governmental and state agencies, organizations, and trade unions.

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