Transcript
The workers' compensation program is a great way to make sure that you've taken care of if injured on the job. It provides wage replacement and medical benefits, so any employee with work-related injuries can use their rights as an employer against them for negligence payouts which often include pain & suffering long-term insurance plus more!
The laws surrounding workers' compensation can be complicated, which is why it's important for employers and employees alike to understand the basics. Every state has its own set of rules with varying degrees in severity depending on what type or industry an individual works. For example, there are special laws for government employees as well as those working certain industries like railroads - but not just yet! In the United States, every business needs some form of workers' compensation insurance for their employees. In fact, every single U.S. state but Texas mandates that companies purchase workers compensation coverage.
Many states have their own funds that are set up to enable companies to purchase workers compensation directly from the state. The idea behind this is that by enabling companies to purchase workers compensation directly from the state, it will be more affordable for them. Here’s a list of states that offer competitive state funds:
Arizona California Colorado Hawaii Idaho Kentucky Louisiana Maine Maryland Minnesota Missouri Montana New Mexico New York Oklahoma Oregon Pennsylvania Rhode Island Texas Utah.
However, there are four states known as Monopolistic Workers Compensation states that do not allow businesses to purchase workers' compensation coverage from private insurance carriers: North Dakota, Ohio, Washington, and Wyoming. This means that laws prevent businesses from shopping around for the best premium rates.
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