Definition of Compensation
Compensation is the payment of a benefit in a workers? compensation claim. In a strict sense, compensation refers to the loss wage benefits that an injured worker receives from workers' compensation because of a work-related injury or illness. While the compensation from workers' compensation will not be as much as you were making at your job (usually about two/thirds of what you were making), it can help you get by until you are able to go back to work. In a broader sense, compensation may also refer to benefits, such as medical expenses, vocational rehabilitation and death benefits.
It is important for you to know that there are no time limits on how long you can receive compensation for a work-related injury or illness. While it varies from state to state on how long you can receive wage loss benefits, if you are permanently disabled as a result of your work-related injury or illness, you may be able to receive permanent disability compensation for the rest of your life. In addition, you are entitled to receive medical care and benefits for as long as your injury or illness requires it.