Are you an employer who’s looking into purchasing workers’ compensation for your business? If so, then you probably have several questions on the subject.
It can be hard to know where to start, but you’re already ahead of the curve by researching things to know about it. Learning all that you can will help you choose the right workers’ compensation, and the right provider, for your employees.
You can learn about things such as workers’ insurance costs, and what workers’ compensation for business is all about. Be sure to read below for workers’ compensation advice and tips to choose the right plan.
1. Accurately Define Your Employee’s Jobs
Did you know that there are hundreds of job classifications that you can use when providing workers’ compensation for your staff? The classification you use will help provide for your employees if they were to get hurt.
However, if you choose the wrong classification, then your staff won’t be properly protected.
That’s why it’s vitally important for you to describe the job duties of your employees and your workforce as a whole. It will help your worker’s comp provider to give you the right insurance claim for your business.
After you and your workers’ comp agent have drawn up a job description for your employees, be sure to double-check each of them. Not only will it shelter your employees long-term, but it will also help you with the premium that you pay on it.
2. Know What Isn’t Covered
Workers’ compensation can be the saving grace for both your company and your employees. However, it’s just as important that you understand what worker’s comp doesn’t cover.
If an accident were to happen on your work floor, the workers’ comp process will start by your employee(s) approaching you to file a claim.
You’ll be the one to hand them paperwork that your insurance company requires them to fill out. But you can save valuable time by knowing the things that aren’t covered by your insurance.
It won’t cover things like emotional stress that isn’t caused by a workplace accident, injuries that came from the worker being drunk while working, or injuries sustained in a fight between your employees.
If you have any questions on what isn’t covered by your workers’ compensation plan, be sure to ask your agent.
3. Understand the Process
No two workers’ compensation processes are created equal. Different insurance providers have different steps they require of both the employee and the employer during the process.
Because of that, it’s vitally important that you have someone in your building that understands the process from both your (the employer’s) perspective and the worker’s perspective.
As previously mentioned, the process will start with your employee approaching you and filing a claim. Before they do, make sure they’ve received some form of medical attention before filling. After all, their recovery is the most important thing.
From there, the situation will mostly be taken off your hands. The employee will be working with your workers’ comp insurance company from then on to reach a settlement and receive compensation for their injuries.
4. Properly Train Your Staff
While workers’ compensation is important (and legally required), you hope that your company never has to use it. However, accidents happen all the time.
You can eradicate several of those mistakes by taking the time to educate your staff on proper safety procedures. Even holding meetings to train them on proper work etiquette can prove to benefit your company and reduce the number of accidents.
Be sure to take out a slot of time each week to educate and remind your staff of safe work practices. You can also make it a focal point of your onboarding process after you hire new workers, to make sure everyone takes it as seriously as possible.
Accidents will happen in your workplace. With the right amount of training, your workers will know how to avoid them, as well as how to handle them if someone is injured. Your worker’s comp insurance will be there to help if there’s ever a need.
5. Know the Injuries That Are Covered
Just as important as knowing the injuries and incidents that aren’t covered is knowing the ones that are.
Typically, workers’ comp covers any physical injury that occurs while your employees are on the job. That doesn’t only apply to the injuries after an incident. Things like carpal tunnel and gradual hearing loss are covered as well.
The insurance also covers previous injuries or ailments that were worsened due to the requirements of their job. Things like a knee injury or wrist injury would qualify, even if you don’t notice the pain right away.
It will cover things like emotional trauma or stress that’s caused by their job duties and the workplace as a whole. Lastly, it also covers any injuries that occur during an employee’s lunch break, even if they’re technically off the clock.
Knowing the injuries that are covered will help you find the best workers’ compensation insurance plan for your staff.
Use This Workers’ Compensation Advice to Your Advantage
Now that you’ve seen several tips and workers’ compensation advice, it’s time for you to find the right fit for you and your staff’s needs.
Be sure to read this article for several reasons why it’s a great idea to buy a workers’ comp policy from a professional employer organization (PEO).
For more inquiries, please be sure to reach out by requesting an online quote and we’ll be happy to assist you further!