You make every effort to provide a safe environment for your staff and patients, but accidents can still happen. To protect your business from the costs associated with employee injuries, you need Workers’ Compensation for home care businesses from Lockton Affinity.
Workers’ compensation is legally required for doing business in most states. Without the proper workers’ compensation insurance, your business could face legal consequences for noncompliance. Lack of coverage also places your business and personal assets at risk in the event of work-related injury or illness.
And once you have coverage in place, you will need to ensure it keeps pace with your growth. As you hire more employees or open new locations, your coverage needs may change. Luckily, Lockton Affinity Home Care is here to help you each step of the way.
What Workers’ Compensation for Home Care Businesses covers
Workers’ compensation insurance provides benefits coverage to your employees in the event of a work-related injury or illness. Common incidents covered under workers’ compensation include:
- Slip-and-fall accidents resulting in injuries
- Back injuries due to lifting or overexertion
- Repetitive stress injuries (such as carpal tunnel)
- Injuries that occur during travel for work (not including commuting)
In some cases, serious accidents and injuries can occur on the job. Even with the best training and safety precautions, workers may have a work-related injury or illness that results in:
- Accidental death
- Permanent disability
With workers’ compensation, these injured workers can receive funds for their medical expenses and partial lost wages, in return for agreeing not to file a claim against the employer. Death benefits may also apply for cases where a work injury or illness leads to the death of an employee.
In cases where an injured employee does file a claim, workers’ compensation can also cover the costs to defend your business from the lawsuit.
Which employees need coverage
Workers’ compensation insurance is required by state law for most businesses with employees. Coverage for sole proprietors and partnerships is usually not required.
- Workers’ compensation insurance is required by law in almost every state.
- Salaried, hourly, exempt, non-exempt, part-time and full-time workers all need to be covered by workers’ compensation.
- Even some commission-only workers, contractors and subcontractors and paid family members of a business may need coverage, too.
Workers’ compensation insurance is regulated at the state level, meaning each state has its own requirements for benefits, coverage areas, coverage type and more. It’s important you have adequate insurance for all employees wherever your business operates and to the extent each state’s guidelines require.
When to reassess your coverage
Over time, your workers’ compensation insurance needs will change, so it’s important to know when to reassess your coverage.
Update your coverage when:
- You hire or expand—Review your coverage when you hire new employees.
- You expand into a new state—Understand that requirements vary, so check local rules when you expand across state lines.
- Your state requirements change—Check your policy annually to make sure you are compliant with any new state requirements.
Why Workers’ Compensation for Home Care Businesses matters
Workers’ compensation insurance protects your business and your employees, especially with the heightened risk of injury caregivers face. Coverage helps ensure that your employees and their families have a remedy for workplace injuries and that your business is not unduly burdened with costly legal claims from an accident.
Workers’ compensation coverage also protects you and your business from regulatory actions, which may include costly fines or even criminal charges for noncompliance in some states.
Lockton Affinity Home Care’s Workers’ Compensation insurance specifically benefits home care businesses like yours through:
- Pay-as-you-go coverage options to conserve cash flow and reduce large balance swings at the time of an audit.
- Weekly or monthly plan options based on what is convenient for you.
- The option to buy coverage on its own or as part of our comprehensive insurance package.
Does your current Workers’ Compensation include these benefits at an affordable price? Get coverage from Lockton Affinity Home Care today.