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Ohio-labor-law-workers'-comp-articleWorker’s compensation always give rise to a lot of questions and concerns. For many small business owners the in’s and out’s are a complete mystery. What is it? How does it help my employees? How does it affect me and my business?

In this post, we’ll cover 5 important things a small business needs to know about workers comp.

1. The amount of employees may affect the law’s principles

Depending on what state you operate your business from, and the number of employees you have on payroll, there are exceptions to the laws that will affect you. In some instances, if you are under the minimum employee limit, you do not have to carry workers’ compensation insurance. You will instead have the option to offer it or not. Click here to find out your state’s laws.

2. How an employee is classified is important

Not every employee you hire will be required to be covered. That is, depending on your state’s specifics, only full time employees are required to be covered. Leaving part timers, independent contractors, and interns exempt.

3. If you are required to provide coverage, be mindful of the law

In the US, worker’s comp is required in every state, without exception. But each state has its own set of laws that employers must follow. In some states worker’s comp is a state-wide program, while in others it is a done through private insurers. It’s very important to know how your state’s laws function, and how you must comply.

4. Worker’s compensation protect the employer too

On the surface, worker’s comp appears as if it is just for employees, protecting them from the costs associated with health-related injuries. But under the surface, worker’s compensation insurance is also just as important for a small business, by protecting the company from the costs associated with lawsuit costs and legal action.

5. Worker’s compensation will cover all injuries that happen on site

No matter who or what is at fault, from the smallest to the largest, worker’s comp insurance covers any injury. Even if an employee is the only one to blame for the accident, they (and you) are covered. This is why it is important to cover safety procedures on a regular basis to prevent any job-related injuries.

For more information on employment and labor laws, click here to read about the specifics for your small business from the SBA.gov.

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