Florida Workers Compensation Insurance requires employers to have an insurance policy covering employees in case they are injured while working on the job. If the employee is injured or contracts and illness while on the job the company or the insurance provider will pay for medical care and lost wages due to the injury. Florida Workers Compensation law can be very complicated and can change frequently, so it is good to have a trusted partner when you have question about state and federal regulations. Below you will find some of the Florida Workers Compensation Basics.
Does My Company Require Florida Workers Compensation Insurance?
Florida Workers Compensation law requires that all companies with 4 or more employees must have Workers Comp Insurance coverage if the company is non-construction and 1 or more workers if the company operates in the construction industry. All employees are eligible for the benefits under the law. Florida considers an employee as full time or part time worker, this can include legal or illegal employees, minors, and prisoners in a work release program. Florida does not consider independent contractors, such as anyone not under the direction of the employer, as employees under the Florida Workers Compensation Law.
Who is Exempt From Florida Workers Compensation?
A corporate officer who elects to not take Workers Compensation Benefits can be exempt from Florida law. The officer must registered with the Florida Department of State in order to be considered for exemption. Construction industry officers can apply to be exempt from Florida Workers Compensation Insurance if the officer owns atleast 10% of the stock according to a Florida corporate stock certificate. If the construction company is an LLC it can show a statement of 10% ownership as proof.
Florida Workers Compensation Benefits
Workers Compensation benefits include payment of all necessary medical bills. This will include all visits to the doctor, surgery, hospital care, prescriptions, and all medical supplies needed. The injured employee is also entitled to receive reimbursement for time and travel to medical visits.
Along with medical benefits Florida Workers Compensation Insurance coverage the injured employee is about to receive wage benefits. The employee can get a portion of their weekly wages, around 2/3s of the weekly average for the past year. Workers cannot receive wage benefits for the first 7 days they are away from work unless they are out of work for more than 14 days.
In the event there is a death cause by the accident at work, the employees dependents are eligible to receive the benefits for the determined length of time.
What if my Company Does Not Have Adequate Workers Compensation Insurance?
If an investigator finds that you are operating without Worker Compensation Insurance then they have the responsibility to make you cease working. There can also be a fine of 150% of the premium that should be paid by the company. Also you company can face fines and penalties if it is found that payroll and employee duties have been misrepresented to gain lower premiums. With these actions you could not only face fines but could face criminal charges.
Along with the regulatory obligations of Workers Compensation you company could face major legal obligations if someone is injured on the job. With Workers Compensation Coverage, if an employee is injured on the job the insurance company is responsible for covering the employee compensation. If you do not have coverage the company is responsible to cover the compensation cost.
Do you have questions about Florida Workers Compensation Insurance?
To find out how your company can save time and money, speak to a Workers Compensation specialist at 1-800-253-7040.
