They say that your workers are the key to a successful business. Not only are they working to help give you a stream of cash flow, but they could also provide your business with new ideas. With that being said, as a business owner, why not help protect them by having Workers’ Compensation insurance?
PolicySweet® is a Workers’ Compensation insurance provider in Missouri. We take pride in providing coverage that can help you protect your business and employees from the financial risks associated with workplace injuries. Talk to us now to get started!
Employer’s Responsibilities Under Workers’ Compensation Law
If you are unfamiliar with Workers’ Compensation insurance, now is the best time to learn about your responsibilities under the law. As an employer, you should:
Just as mentioned, Missouri employers of five or more employees should obtain Workers’ Compensation insurance. Again, failure to do so can result in serious penalties.
Inform Employees About Rights & Benefits
It is the responsibility of employers to make sure their employees know their rights and benefits under the Missouri Workers’ Compensation law. This could include the right to file a claim, the list of benefits they are entitled to, and other related information.
Report Claims & Injuries
Don’t forget to report job-related accidents. Notify your insurance provider as soon as you receive an accident report to help avoid delays in claims processing. 30 days after the knowledge of an incident is the maximum time for employers to report a claim.
Provide Immediate Medical Care
It is also your responsibility to provide your employees with immediate medical care in case of a work-related injury. Make sure to keep relevant paperwork and documentation on file for future reference.
Who Is Exempted?
There are certain exemptions with regards to Workers’ Compensation insurance. Businesses that maintain fewer than five employees could be exempted from the law. Additionally, businesses that are under federal laws, such as railroad, postal, and maritime workers, are also exempted from the law. Other exemptions include:
- Domestic helpers in a private home
- Direct sellers
- Qualified real estate agents
If your employees fall under any of these categories, then you might not be required to provide Workers’ Compensation insurance. Otherwise, you should consider getting coverage by a Missouri-approved insurance provider.
What Does Workers’ Compensation Insurance Cover?
Workers’ Compensation can cover expenses related to work-related accidents and illnesses. Coverage typically includes:
Workers’ Comp insurance helps to provide your employees with medical expenses such as physical therapy, hospitalization, and medications. This could give your workers “peace of mind” as well as help to provide them with the medical care, rehabilitation, and support they need in times of injury or illness.
In cases where injuries prevent your employees from getting back to work right away, Workers’ Compensation could cover the lost wages they may have received if they were able to continue working.
Many work-related injuries can take a long time to heal. In such cases, Workers’ Compensation insurance could provide ongoing medical care that can help during the healing process.
Get Your Workers’ Compensation Coverage Today
Want to help protect your business from the financial risks associated with workplace injuries and illnesses? Consider obtaining Workers’ Compensation insurance coverage.
To learn more about Workers’ Compensation, get in touch with PolicySweet today. Let us help navigate you through the complexities of insurance and answer questions you might have.
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.