Workers’ Compensation is insurance protection mandated under state law for a worker and his or her dependents against injury and death occurring in the course of employment. It is not health insurance, and it is not intended to compensate for a disability other than disability caused by injury arising out of employment. If your employee, including G-5 employees, is injured while working it is the Workers’ Compensation Insurance policy that will provide compensation for medical expenses, lost wages and more. Employer requirements to maintain a worker’s compensation insurance policy are governed by state, not Federal, law. Most, but not all, states require employers to purchase a Workers’ Compensation Insurance policy, and even where not required HWS strongly encourages employers to purchase a policy. HWS will connect clients with our exclusive insurance partner who can issue these policies.
HomeWork Solutions has a valued insurance partner who can help HWS clients quickly and easily obtain a workers’ compensation insurance policy at competitive rates.
The purpose of a workers’ compensation system is to provide financial and medical benefits to the victims of ‘work-related’ injuries and their families regardless of fault.The cost of this insurance is borne by the employer. Insurance premiums are determined by the number of employees, their annual payroll, and the type of work they do.
Maryland and the District of Columbia require household employers to obtain Workers’ Compensation Insurance coverage. This insurance may be purchased through a licensed insurance broker, including HWS’ insurance partner and/or a state insurance fund. This is a policy of insurance and not a payroll tax.
Virginia requires Workers’ Compensation Insurance when you employ 4 or more household workers.We strongly encourage you to speak to a casualty insurance agent about your options as voluntary coverage can provide you very important protection.
New York State requires that the employer purchase BOTH workers’ compensation and disability insurance policies. These are offered through the state insurance fund.
We hope our article provided you with enough information about workers’ compensation for employees, including G-5 employees.