Ever scratched your head trying to figure out what workers’ comp is all about? Let’s cut through the jargon and take a quick, easy look at workers’ comp—what it is, how it operates, and who’s responsible for footing the bill. Oh, and yes, you can absolutely get workers’ comp online. Let’s dive in, shall we?
What’s Workers’ Comp and How Does It Work?
Think of workers’ comp as a safety net for employees and employers. It’s got the backs of workers who get hurt or fall sick on the job, and it ensures they can’t sue their employers if those things happen.
So let’s say an employee is at work, and an accident happens, or a previous condition worsens because of their job. Workers’ comp steps in and covers some of their lost wages, disability benefits, and any ongoing care they might need. And if the worst happens, it provides death benefits too. Plus, it takes care of hospital visits, emergency surgeries, medicines, you name it.
Here’s the clincher–it doesn’t matter who caused the accident. All employees are covered. And they can’t sue their employer for any work-related illnesses or injuries.
Who Pays for Workers’ Comp?
This one’s on the boss. Yep, employers are the ones responsible for covering workers’ comp insurance premiums. This isn’t something that’s deducted from an employee’s paycheck like Social Security benefits. The law mandates businesses ensure that workers’ comp benefits are properly handled, according to the specific rules and regulations of their state.
Can I Get Workers’ Comp Online?
Yes, you can! Depending on your state’s guidelines, you’ve got options—you can go for state-operated agencies or private insurance providers. Just make sure to work with an agent to shop around and compare plans before settling for the best deal.
Also, there are nifty solutions out there that integrate workers’ compensation, payroll, and time tracking, like Hourly.
Employees use Hourly to clock in and out and the platform tracks how long they’re working, how much they’re earning, where they’re working from, and more. This information creates a ton of real-time data points, letting Hourly know if your team is growing, shrinking, or staying steady—and by how much.
Hourly then automatically recalibrates your workers’ comp premiums in real-time.
The cherry on top? Hourly’s comp plans are a pay-as-you-go deal, so as a business owner, you only pay for the workers’ comp you actually need.
And forget about guesstimations. The amount you pay is grounded in reality, based on the real cash you’re paying your workers every month. Cool, right?
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