Employer Workers’ Comp
As an employer, most states will require you to have workers’ compensation insurance. This insurance helps provide coverage for work-related injuries or illnesses. This coverage can include:
- Medical care
- Replacing a portion of an employee’s wages lost from time off work due to an injury
- Ongoing care
- Funeral expenses
- Injuries or illnesses
The first way to get workers’ compensation insurance is from your state. In this case, the state funds your works comp claims. The second way to get workers’ comp insurance is from a private insurer.
In some states, larger companies may have the ability to self-insure with workers’ compensation if they have enough assets. In other words, they can be their own insurance companies. That said paying for medical or disability benefits can cause financial damage to your company. You’ll want to really think it through if you go this route.
The Hartford offers workers’ comp that covers everything mentioned above and more. Additional workers’ compensation benefits with us include:
- A preferred medical provider network
- Prescription drug features
- Access to experienced nurses
- Pay-as-you-go billing solutions
All of these features provide our customers with coverages that address their unique needs. Our goal is to help business owners and employees get back on their feet by providing the right care and attention they need. We also provide business owners like you, with options that can help lower the cost of your insurance.
Get a quote today or call one of our small business insurance specialists or agents at 1-855-829-1683.
Employers Responsibilities for Workers’ Compensation
As an employer it’s your duty to provide workers’ compensation insurance to your employees. In fact, most states require it and have different workers’ compensation laws. If you don’t provide workers’ comp insurance, there are penalties you may face. These penalties include:
- Fines. Your state determines the fine you pay for not having workers’ compensation insurance. Generally, the longer you’ve been without coverage, the higher the fine will be.
- Prosecution. Criminal charges can be brought against you for not providing workers’ compensation insurance to employees working for you.
- Lawsuits from injured employees. Employees who suffer an injury or illness can sue you when you don’t have the right coverage
In addition to these penalties you may be responsible for large medical or disability payments. This means that if you don’t have coverage when an employee is injured, you may be found responsible for the bills. To understand this further, consider these examples:
- As one of your employees stocks shelves she injures her back. After she receives medical treatment it is determined that the injury is permanent. If you don’t have workers’ compensation insurance you may be responsible for the disability payments.
- One of your employees slips and falls in your store after they finished mopping the floors. If you don’t have workers’ comp insurance, you will likely be found responsible for paying their medical bills.
- As your employee is driving your construction company’s van to a client’s house, they get into an accident. As a result of the accident, they sustain an injury. If you don’t have workers’ compensation insurance, you will likely be found responsible for the medical costs associated.
Luckily, it isn’t difficult finding workers’ compensation insurance. When you find the right coverage, there are certain tasks you’ll be responsible for. These include:
- Posting a notice of compliance with workers’ compensation laws. This notice should be posted in a noticeable spot for employees to see.
- Meeting the workers’ compensation board’s requests on compensation claims. These requests can include various details about injured workers’ claims. These details can be anything from the amount an employee earned before an accident to the date they returned to work.
- Ensuring on-the-job injuries receive immediate emergency medical treatment. For instance, if an employee gets injured on the job, you’re responsible for making sure they receive immediate care.
- Make a written report of injury for every accident. This should include every accident that results in personal injury for an employee. Especially, if an employee had to take time off from work to recover. Some state requirements may require reports if the medical treatment goes beyond first aid or more than two treatments by a doctor. When you’ve completed your reports they should be mailed to the nearest workers’ compensation board office. You should also make sure you mail a copy of the report to your insurance company and employers or employer. If you don’t do this, you may have to pay a fine. At worst, you may be found guilty of a misdemeanors.
As an employer, you should never retaliate to a workers’ compensation claim. Retaliation could signify discrimination of the employee that filed the claim.
Employer Penalties for Workers’ Compensation
Workers’ compensation helps protect you from a lawsuit that you may not see coming. It helps you avoid costly financial damage while you continue to run your business.
As mentioned earlier, without this insurance you may face these penalties:
- An employee sues you instead of filing a claim
- Criminal prosecution
- Fines determined by your state
- Personal liability if someone is injured at your business