The benefit that most people are familiar with in worker’s compensation is wage loss benefits. If you got an injury at work and you cannot do your job, you may be concerned about how you are going to be able to continue your income stream. Worker’s compensation provides for wage loss benefits. According to FindLaw, these benefits are available to you once you have been out of work for more than seven days. After that, you should receive 2/3 of your pre-injury average weekly wage. That average weekly wage is calculated by taking the average of the four quarters of earnings prior to your injury and taking the three highest taking. The average of that or 2/3 of that is what you are entitled to.
The benefits are subject to both the maximum and minimum. If you are out of work altogether, you will receive total disability benefits, which are available to you for unlimited periods of time. If, on the other hand, you are working but suffering a wage loss, then you can receive partial disability benefits. Partial disability benefits are available for up to 500 weeks. You also get partial disability benefits if, at some point, after you have been out of work for two years, the insurance company determines that you have a less than 50% total impairment. This is a very complicated calculation. Calculating wage loss benefits is a complicated formula. There are numerous ways to calculate the benefits for an individual, and it is essential to figure it accurately because it affects the amount of money you get.