There’s always a risk of injuries in the workplace. When this happens, you should be able to provide employees with the benefits they might need to recover so they can return to work knowing their employer cares for them and can provide them with the help they might need. You can help protect your company and your personnel, who are crucial to running operations with Workers’ Compensation.
Workers’ Compensation in Massachusetts can seem complex, but it doesn’t have to be that way. The PolicySweet® team is here to help answer your questions and find a plan for your business. Contact one of our specialists today to get started. We’ll walk you through the steps of obtaining a policy.
What Is Workers’ Compensation?
Workers’ Compensation is typically a required form of insurance for businesses operating in Massachusetts. It’s a policy that can cover expenses in case of a workplace accident. For example, Workers’ Comp could cover an employee’s medical costs after an injury they experienced while on the job. It helps to protect you as a business owner and acts as an additional benefit to them.
Massachusetts Workers’ Compensation Requirements
Massachusetts requires most employers to have Workers’ Compensation. The policy should cover employees working for the business and fulfill at least 16 hours of work a week.
Depending on how your business is set up, you may have different requirements for Workers’ Comp. Members of a LLC, partners of a LLP, or sole proprietors of an unincorporated business do not need to carry Workers’ Compensation for themselves. However, they may still be required to carry it for their employees.
How Much Does Workers’ Compensation Cost?
Many factors can influence the price of a Workers’ Comp policy, and not every company is the same. Some factors to consider are the people included in your payroll as well as other components.
Here are some additional elements that can affect the premium:
- The amount of coverage
- Number of employees
- The risk factor associated with your industry
- Location
- Payroll
- Claims history
You can consult with our team to get a better understanding of the price of a Workers’ Comp policy. We can break down the pricing for you and estimate how much it would cost your company. Our team is here to help you find a plan that works for you!
Workers’ Compensation Coverage
Workers’ Compensation helps cover costs from injury to recovery if it occurs while working. It can also provide employees compensation for lost wages if they are unable to return to work right away.
Workers’ Compensation does not encompass cases with willful negligence leading to the injury. For example, a case where the employee knowingly ignores safety precautions would likely not be covered. It also typically does not cover injuries or illnesses for those who received them while intoxicated or under the influence.
Accidents can happen in the workplace and could lead to financial setbacks for the business owner. Workers’ Comp can be a safety net to help cover expensive medical treatment for work-related injuries. It can be considered a crucial part of your company’s plan.
PolicySweet: Providing Comprehensive Workers’ Compensation Insurance for Your Company
PolicySweet offers Workers’ Compensation to help companies protect their employees. Our process is quick and simple – contact us and tell us about your needs. We’ll provide you with a no-obligation quote, which you can accept if you like the terms.
Contact us today to learn more about Workers’ Compensation.
Please Note: State-specific information is subject to change at any time. Always consult with your state’s official information and resources for the most accurate information.