Employers of small and large businesses alike are legally required to make sure their workplaces are safe places for people to work. Even when an employer is making every effort to promote safety in the workplace through training and other protocols, accidents can still happen. In almost every state in the US, business owners are required to purchase workers’ compensation insurance—also known as workers’ comp—that kicks in when any employees are hurt on the job.
Although most workers have their own medical insurance plans, workers’ comp provides additional coverage that can help your employees pay for expenses connected to any work-related injuries. Typical expenses include hospital visits, surgeries, and any prescriptions need in the short and long term.
Workers’ compensation provides an extra safety net for employees so that they aren’t further burdened by costs associated with getting healthy following an accident.
Hopefully, if there’s an accident at work, your employee will be back on the job sooner rather than later. But giving employees time to recover is important. Workers’ comp helps replace lost wages so than an employee can still get paid while out on leave following an injury or illness.
Your workers’ compensation insurance plan will allow you to provide extra support to your employees without taking a massive cut out of your revenue.
Sometimes medical care needs to be stretched out over time, for follow-up visits with doctors or with ongoing treatment like physical therapy.
Workers’ comp gives added coverage for longer-term medical expenses that still affect your employees, even after they return to work. This ensures that your employees remain healthy and able to do their best on the job.
Workers’ compensation insurance can also provide funeral expenses in the event that an employee dies from a work-related accident.
Workers’ comp can also provide death benefits to beneficiaries to help ease the trauma of losing a loved one.
Your company can ensure a safer workplace and control workers’ compensation costs with a good PEO. Canal HR’s experts and workers’ comp administrators will work to ensure your company maintains a safe work environment and keeps expensive claims in check. Below are some of the workers’ comp and risk management services we provide:
Eliminating workers’ compensation down payments
Negotiating and obtaining workers’ compensation insurance coverage
Eliminating workers’ compensation audit and audit premium
Performing risk management safety inspections
Providing periodic safety training
Processing and managing workers’ compensation claims
Handling workers’ compensation hearings
Maintaining OSHA logs
Coordinating a return-to-work program
“The cost of my workers’ compensation insurance was about to put me out of business. Instead, the people at Canal HR got us great rates on work comp… it saved our company.”Canal HR Client
If you’re looking to save yourself the expense and hassle of taking care of workers’ compensation coverage, contact Canal HR today. Our team of experienced professionals can take care of all your benefits administration and human resources support needs. Give us a call today or send us an email to set up a free consultation to learn about the benefits of working with a PEO.