Workers Compensation Insurance

Employers with 11 or more employees at any time in 2022 are required to post OSHA Form 300A from February 1 through April 30 unless you qualify as an exempt low-risk industry. List of low risk industries can be found here.

The OSHA Form 300A is a summary of incidents listed on your OSHA Form 300 log and must be posted even if you have no recordable incidents.

The OSHA Log of Work-Related Injuries and Illnesses (Form 300), Summary (Form 300A), and Instructions can be found at here.

Employers must submit their 2022 Form 300A data to OSHA if they have 250 or more employees or have 20–249 employees and are in certain high-risk industries. Employers must send this data electronically, using OSHA’s online Injury Tracking Application (ITA). The deadline to submit the report is March 2, 2023.

The electronic reporting requirements are based on the size of the establishment (how many employees are at the physical location), not how many employees are in the entire company.

Employers that are covered by a State Plan that has not yet adopted its own state rule must also use the ITA to send their data electronically.

Employers that meet any of the following criteria DO NOT have to send their Form 300A information to OSHA:

• Employers that are exempt from OSHA’s routine recordkeeping requirements, as mentioned above.
• Employers that never had 20 or more employees during the previous calendar year, regardless of industry.
• Employers that had between 20 and 249 employees at some point during the previous calendar year but are NOT on this list of high-risk industries.

Additional information, FAQs, and the Injury Tracking Application can be found on OSHA’s ITA page.

Workers' compensation insurance is a policy that provides benefits to employees who are injured or become ill as a result of their job. Benefits can include medical expenses, income replacement, and death benefits.

In most states, businesses are required to have workers' comp insurance. However, there are a few states that do not need coverage. Even if your state doesn't require it, it's still a good idea to have workers' comp insurance.

There are three types of workers' compensation insurance: statutory, voluntary, and self-insurance.

1. Statutory workers' compensation insurance is coverage that is required by law. Most businesses in the United States are required to have this type of coverage.
2. Voluntary workers' compensation insurance is not required by law but is offered by some employers.
3. Self-insurance is coverage purchased by the business owner instead of getting it through an insurance company. This type of coverage is not common, but it is available.

The injured employee usually receives benefits from workers' compensation insurance. The employer most often pays for the policies.

Employees don't pay deductibles for workers' compensation insurance. The employer pays the premiums for the policy, and the employees are covered under the policy. However, with self-insurance, such as self-employment, the business owner pays the premiums and is protected.

Workers' comp insurance provides several benefits to employees injured on the job. These benefits can include:

1. Medical expenses - An insurance policy will help cover the cost of medical treatment for an employee injured at work. This coverage can include doctor visits, hospital stays, and prescription drugs.
2. Income replacement - If an employee is unable to work because of an injury, workers' compensation insurance can help replace some of their lost income.
3. Death benefits - If an employee dies as a result of an on-the-job injury, workers' compensation insurance can provide death benefits to the employee's family.

Most on-the-job accidents go through a workers' compensation claim, which is a process where the insurance company and the employer work together to provide benefits to the employee. However, some injuries might not be covered. For example, injuries happen while the employee is on their lunch break or injured outside of work.

Employees cannot sue their employers if they have coverage if they are injured on the job. Workers' compensation insurance is the only way to get benefits for an injury that happens at work in states that require a policy.

In some states, an employee is covered if they are injured on the way to work. The insurance company will need to date when the accident happened and where it happened. However, not all accidents that happen on the way to work are covered.

If an employee is denied benefits, they might be able to sue the insurance company. However, this can be a difficult process, and it's important to have an attorney who specializes in workers' compensation law.

An insurance agent can help you find the best workers' compensation insurance policy for your business. They can also help you with other types of insurance, such as property insurance and liability insurance. An agent can also help you file a workers' compensation claim if an employee is injured on the job.

Workers' compensation insurance is an important policy for businesses to have. It provides benefits to employees who are injured on the job. SMD Insurance can help businesses find the best workers' compensation policy for their needs. Contact us today to get started!