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Under the Wisconsin Workers’ Compensation Act, employers must accommodate all employees with workers’ compensation insurance coverage if they have three or more workers. Benefits provided include medical treatments, compensation for disabilities, and wage replacements.
Small businesses' most common mistake is ignoring safety programs when evaluating ways to save money on workers’ compensation insurance coverage. Educating employees with routine updates and information on safety protocols will ensure a safer workplace, reduce injuries, and help save cash on coverage over time.
Insurance companies may also give you a discount for having an active policy so make sure to tell your agent so he can ask for one.
Other ways to save money on workers’ comp includes:
Another way to comply with Wisconsin workers’ compensation insurance laws and save money is to implement a return-to-work program. This allows injured workers to come back and do lighter, slower tasks so they can start earning money again while they recover.
Under Wisconsin workers’ comp insurance law, when an employee is injured at work, they must report it immediately to their employer. The employer is then required to report the injury to their insurance provider.
Injured or sick employees are entitled to medical treatment for work-related incidents or accidents. They can choose a practitioner from an insurance-provided list of licensed healthcare professionals, helping strengthen their claim and hasten the approval process.
Workers' comp coverage also protects employers from legal action. This means that if an employee sues your business because of a workplace injury, the insurance will cover the legal costs of the case.
Start by gathering all your business information. Then reach out to an insurance agent and ask for a few insurance quotes. Then compare the quotes and pick the one that is the best fit for your business. Not every policy is the same so make sure you understand all the details.
Once you sign the policy, you’ll have to pay the premium on the schedule you choose and you’ll be covered for the next 12 months. The payment options will differ by carrier so ask what your options are.
If any of your employees get hurt in that timeframe, the insurance policy will cover their medical expenses and lost wages until they are ready to come back to work.
Non-compliance with Wisconsin workers’ compensation insurance laws is met with consequences, such as:
Wisconsin workers’ compensation insurance laws mandate that the death benefit for surviving dependents is equal to four times the amount of a deceased worker’s annual wage. For instance, if the worker’s annual wages were $60,000, the death benefit would be $240,000, typically paid in a lump sum.
Other death benefits include:
Workers’ compensation settlements in Wisconsin begin with negotiations between an employee and an employer. The injured worker seeks restitution for lost wages and medical expenses, and an agreement is reached in writing.
The agreement is then sent to the Wisconsin Workers’ Compensation Division, where it is approved or denied. Approval results in a settlement paid in a lump sum of periodic, structured payments. Once a settlement has been paid out, the injured worker cannot request additional compensation for the same injury or illness, even if their condition worsens.
Start by filling out a short online form about your business. We’ll use that info to get you an estimated quote. Then, one of our experienced agents will contact you to review the quote and make sure you are getting the absolutely lowest rate possible for your business. Once the quote is finalized, you’re ready to buy the policy - often with coverage starting that day!
Unlike other online insta-quote systems,
here your quote is reviewed by experts
A Step-by-Step Handbook for Small Businesses - you don't want to skip this!
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