As a business owner in Florida, you have a legal obligation to provide workers’ compensation insurance for your employees. This type of insurance provides financial protection to employees who are injured or become ill as a result of their job. In this article, we’ll discuss everything you need to know about Florida workers’ compensation insurance.
- What is Workers’ Compensation Insurance?
Workers’ compensation insurance is a type of insurance that provides financial protection to employees who are injured or become ill as a result of their job. Employers are held fully responsible for on-the-job injuries of their employees with exclusions such as being intoxicated on the job. This insurance typically covers medical expenses, lost wages, and rehabilitation costs.
- Who is Required to Have Workers’ Compensation Insurance?
In Florida, all employers with four or more employees are required to provide workers’ compensation insurance. This includes both full-time and part-time employees. Not having workers compensation insurance when you have four or more employees can result in legal ramifications.
- What Does Workers’ Compensation Insurance Cover?
Workers’ compensation insurance typically covers medical expenses, lost wages, and rehabilitation costs incurred as a result of a workplace injury or illness. In Florida, this insurance also covers death benefits for the surviving family members of an employee who dies as a result of a workplace injury or illness.
- How to Obtain Workers’ Compensation Insurance
In Florida, you can obtain workers’ compensation insurance through a private insurance company or through the state-run insurance program. The private market is best for low risk companies like office jobs and companies with a good loss history. State insurance companies are generally for companies that cannot secure workers compensation insurance in the private market. Be sure to compare quotes from multiple insurance companies to find the best coverage at the most competitive price.
- What Happens if You Don’t Have Workers’ Compensation Insurance?
If you’re a business owner in Florida and you don’t have workers’ compensation insurance, you could face significant penalties and fines. In addition, if one of your employees is injured or becomes ill as a result of their job, you could be responsible for paying their medical expenses and lost wages out-of-pocket.
- How to File a Workers’ Compensation Claim
If one of your employees is injured or becomes ill as a result of their job, they can file a workers’ compensation claim. This claim must be filed with the Division of Workers’ Compensation within 30 days of the injury or illness. The employee will need to provide medical documentation to support their claim.
- How to Dispute a Workers’ Compensation Claim
If you disagree with a workers’ compensation claim, you can dispute it. This can be done by contacting the Division of Workers’ Compensation and providing evidence to support your case.
In conclusion, as a business owner in Florida, it’s essential to understand your obligations when it comes to workers’ compensation insurance. This insurance provides financial protection to your employees in the event of a workplace injury or illness and protects you from the financial burden of paying medical expenses and lost wages out-of-pocket. Contact us, EnsureUp, at (305) 452-0587 or visit our website at www.ensureup.com to learn more about how we can help you find the right workers’ compensation insurance coverage for your business.