Things To Consider Workers Compensation in WA
When it comes to protecting your business and employees, workers' compensation is an important part of the equation. In Washington State, employers are required to provide workers' compensation coverage for their employees in the event of workplace injuries or illnesses. As such, it is important to familiarize yourself with the different types of coverage available and how they may best benefit your business. Here are five things to consider when choosing workers recompense in WA
Image Source: Google
1. Statutory Coverage: Statutory coverage is the most basic type of workers' compensation offered in Washington State. This coverage provides benefits for medical care, rehabilitation, and lost wages for employees who suffer workplace injuries or illnesses. It also protects employers from being sued by employees for workplace injuries or illnesses. Statutory coverage is a good option for small businesses or those who are just starting out.
2. Voluntary Coverage: Voluntary coverage is not required by law, but it does provide additional benefits for employers. This type of coverage can include coverage for death and disability benefits, legal defense costs, and funeral expenses in the event of workplace injuries or illnesses. It is also important to note that voluntary coverage does not replace statutory coverage but rather is offered in addition to it.
3. Self-Insurance: Self-insurance is when an employer assumes the risk of covering employee medical expenses and lost wages due to workplace injuries or illnesses. This option is ideal for larger businesses or those with an established history of successful workers' compensation claims.
4. Third-Party Administrators: Third-party administrators are responsible for administering workers compensation claims. These entities are typically employed by employers to handle the day-to-day management of workers' compensation claims and the associated costs.
When it comes to protecting your business and employees, workers' compensation is an important part of the equation.