Workers’ Compensation Articles

Key Takeaways − In many states, you need workers’ compensation insurance for one employee. Skipping coverage can expose you to lawsuits, medical bills, fines, and criminal charges, depending on your state. Workers’ comp helps cover medical costs and lost wages when employees are hurt on the job. Even “safe” office jobs carry risk: slips, falls, […]

Key Takeaways − Workers’ comp for one employee often costs a few hundred dollars per year, but it can be more or less depending on your situation. Your industry risk, state, payroll amount, and claims history drive your rate. Many states require workers’ comp even if you have just one employee. You’ll usually pay a […]

Key Takeaways − Most states require workers’ compensation insurance once you have employees, but rules and exemptions vary by state. Common exemptions can include sole proprietors, partners, certain officers, family members, and independent contractors. “Do I need workers’ comp insurance for one employee?” The answer depends on your state. Misclassifying employees as “exempt,” “contractors,” or […]

Key Takeaways − Workers’ compensation is state-mandated insurance that covers work-related injuries and illnesses with medical, wage-replacement, and rehabilitation benefits. Most states require coverage as soon as you hire your first employee; some have thresholds (e.g., 2–5 employees) or industry exceptions. A few states (e.g., Texas, South Dakota) allow employers to opt out. Premiums are […]

Workers’ compensation insurance isn’t just a great way to help protect your business investment. In many states, it’s required if you have employees. Pay-as-you-go workers’ comp lets employers pay only for the workers’ comp insurance they need in real-time.

Accidents can happen in the workplace. When an employee gets a work-related injury or illness, your business could be on the line. Workers’ compensation insurance protects you by reimbursing employees when accidents take place. But, employees, employers, and even health care providers can take advantage of the system by committing workers’ compensation fraud. Workers’ comp […]

The average rate of illness or injury at the workplace can affect employers’ insurance costs. With workers compensation insurance, experience rating modification allows a group of businesses to share the risk of undergoing a loss. While the entire group’s losses can be predicted quite accurately, it is difficult to forecast which group member will experience […]