While some work-related injuries happen fairly frequently and are easy to recover from, other injuries are more serious and can leave an employee disabled and unable to work.
- A factory worker crushes the tips of his fingers on both hands.
- A cashier develops carpal tunnel syndrome from the repetitive use of her arms.
- A warehouse worker herniates a disk in her back while moving a heavy box by hand.
These examples are just the tip of the iceberg for injuries that can happen to people while they are working. Monroe employers are obligated to protect employees from the financial consequences of workplace injuries. Workers’ compensation insurance pays for employee medical expenses and other related costs, without a further liability burden for the employer.
An independent insurance agent in Monroe can help you find an appropriate policy for your business and make sure you are complying with all of the Louisiana workers’ compensation requirements.
Is Workers’ Compensation Required in Monroe?
Almost all employers in Monroe must purchase workers’ compensation insurance. Every employee, including full-time, part-time, seasonal, and minor employees, must be covered from their first day of employment.
Subcontractors and certain independent contractors may be considered employees for purposes of Louisiana workers’ compensation coverage.
If you are a sole proprietor or a corporate officer, you are included in your company’s work comp coverage, but you can choose to exclude yourself if you own at least 10% of the company.
Louisiana has some unique exemptions to its workers’ compensation requirements. The following types of employees do not need to be covered by workers’ compensation in Louisiana:
- Domestic employees and most real estate agents
- Uncompensated officers and directors of some nonprofits
- Public officials and employees covered by federal programs
- Musicians and other performers
- Oil and gas workers
- The crew of any airplane working in crop dusting or spraying
- Employees of railroads or other vessels in interstate or foreign commerce
How Much Does Workers’ Compensation Insurance Cost in Monroe?
Your overall Louisiana workers’ compensation premium is based on your industry risk classification, number of employees, and annual payroll. It is highly dependent on how likely your employees are to be injured on the job.
No matter what kind of business you own in Monroe, you need to find ways to keep employee injuries and workers’ compensation costs under control. The best way to reduce the number of workers’ compensation claims for your business is to provide a safe workplace.
Here are three of the most prevalent industries in Monroe, and a sample average annual workers’ compensation premium based on a business with a $100,000 payroll:
- Healthcare: $2,190
- Accommodation and Food Services: $1,210
- Construction: $9,250
An independent insurance agent who understands your business and the Louisiana workers’ compensation rating system can help you get quotes for coverage and understand all of the ways to help keep your costs under control.
What Does Monroe Workers’ Compensation Insurance Cover?
Louisiana’s workers’ compensation insurance provides three main benefits to injured Monroe workers.
- Medical bills
- Wage replacement/Disability benefits
- Death benefits
Medical bills: The purpose of workers’ compensation insurance is to pay the medical expenses of injured workers and return them to work as quickly as possible.
Workers’ compensation policies in Monroe pay for all reasonable and necessary medical treatment related to an on-the-job injury or illness. Benefits include mileage reimbursement as well as vocational rehabilitation for workers who are unable to return to their previous job.
Wage replacement: Louisiana workers’ compensation insurance helps injured workers recoup a portion of their lost wages if they are unable to work during their recovery period. The amount of disability benefits that an employee receives is dependent on the degree and duration of their disability, or inability to return to work.
Louisiana workers are entitled to wage replacement benefits in cases of temporary disability, permanent partial disability, and permanent total disability.
A one-time payment of $50,000 may also be available if the employee’s injury is determined to be catastrophic (e.g., it results in paraplegia, quadriplegia, or the loss of two limbs).
Death benefits: If a work-related fatality occurs, Louisiana workers’ compensation insurance offers death benefits to help ease the financial burden for the deceased worker’s surviving family members.
A worker’s spouse, children, or other dependents can receive weekly death benefits when the worker passes away due to a work injury. What’s more, the family can receive up to $8,500 in funeral and burial expenses for a deceased employee.
What Happens When Workers’ Compensation Claims Are Disputed?
Any Louisiana workers’ compensation claims that are in dispute can be reported first to the employer’s insurance company.
If the dispute cannot be resolved, either party can request a mediation conference with a mediator from the Office of Workers’ Compensation. These mediators are licensed attorneys who are trained to mediate disputes in accordance with Louisiana workers’ compensation laws.
Claim disputes that are not resolved by the mediator may be filed with the OWCA district office and may be referred to a Workers’ Compensation Judge for resolution.
Find the Best Workers’ Compensation Insurance in Monroe
Purchasing workers’ compensation insurance for your Monroe business is complex and requires the help of a trusted advisor.
To make sure you purchase the right policy, contact a local independent insurance agent who can help you learn more about Louisiana’s workers’ compensation laws. An independent agent can help you get quotes from multiple insurance companies so you can be sure you are making the right choice.