What People Don’t Consider About Workers’ Compensation

Workers’ compensation in MA is there to help employees, but sometimes employers don’t consider the important aspects of this coverage.

Workers’ compensation in MA is an insurance policy that is state-mandated and offered by organizations that covers workplace injuries and illnesses. Employers often don’t consider things that may help them reap the benefits of workers’ compensation. But what are the advantages that most businesses in the United States of America are not considering?

  1. Taking advantage of savings available in their state – If a small business that pays $5,000 in premiums or less may be eligible for a credit of 5 to 15 percent if they have not had any lost-work-time claims for a specific time period.
  2. Premiums should be calculated correctly – It is important that businesses be placed in the correct industry category, make sure that the insurer’s payroll is adjusted if they offer overtime pay, and allocate the payroll of employees correctly.
  3. Increase the deductibles – If you want to cut the costs of your workers’ comp insurance bill, you may have the option to increase your deductible–depending on your state’s laws. Deductibles tend to encourage greater safety practices on the part of the employer who is in charge of paying this deductible.
  4. Manage risks – Many companies believe they can’t afford to hire a risk manager and hope that their business remains danger-free. Needless to say, this is an awful strategy because when something does happen, the fees of a risk manager will pale in comparison to the costs of medical bills and disability payments organizations may have to pay when their employee gets injured.

Contact PMC Insurance Group for the support you need to get your home healthcare accounts the coverage they deserve. We’re dedicated to serving the home health industry and have many workers’ compensation solutions we can offer you in MA. Call us today!