The phrase refers to a device or useful resource designed to estimate the financial compensation a person might obtain following a work-related damage or sickness in a particular state. This estimate is predicated on a medical skilled’s evaluation of the everlasting useful loss ensuing from the situation, in addition to the related state’s staff’ compensation legal guidelines and relevant compensation schedules. For instance, if a employee sustains a everlasting damage to their again, a doctor would assign an impairment score. This score, together with different elements, can be entered into the device to supply an estimated payout quantity.
The importance of such assets lies of their means to supply injured staff with a preliminary understanding of the potential compensation they’re entitled to. This understanding can empower them to make knowledgeable choices concerning their authorized and medical choices. Traditionally, calculating these advantages was a posh course of, usually requiring intensive authorized and actuarial experience. The appearance of on-line calculators goals to simplify the method and improve transparency for these navigating the employees’ compensation system. Advantages embrace offering a place to begin for settlement negotiations and understanding the relative worth of various impairment scores.