How Do You Be Worker’s Comp Exempt in Florida?
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Florida has strict requirements regarding worker’s compensation insurance and which businesses are required to have it. Most businesses must have worker’s compensation insurance in Florida, although there are some exceptions that can be made depending on the number of people that are employed and the industry that the company does work in. Keep reading if you would like to learn more about whether or not your Florida business is exempt from needing worker’s compensation insurance and how workers’ compensation broker NPN Brokers can help you find a policy.
Florida Worker’s Compensation Exemptions
Businesses must get worker’s compensation policies if they employ a certain amount of people and do work in specific industries. Most businesses are required to have worker’s compensation insurance, although it is important to be aware of what can exempt a business from needing workers’ compensation insurance.
One way that businesses can be exempt from needing worker’s compensation insurance is if they do work in an industry that is neither the agricultural industry nor the construction industry and employ less than four people. Companies that do work in the agricultural industry that employ fewer than 12 seasonal employees or fewer than six full-time employees. General contractors and subcontractors are considered to be employees, although independent contractors are not.
Up to three corporate officers that work in industries besides the construction industry are exempt from needing worker’s compensation insurance if they can demonstrate that their company is in good standing that they each have a certain share of the company.
It is virtually impossible for companies that do work in the construction industry or a construction-related field to be exempt from needing worker’s compensation insurance—companies that do work in the construction industry must have worker’s compensation if they employ even one person. Construction-related fields are those that are similar to construction. They include companies that do roofing and siding, plumbing, electrical work, landscaping and tree removal, HVAC, and concrete and tile.
Benefits Available through Worker’s Compensation Policies
Worker’s compensation policies are used to protect employers from lawsuits from employees if they are injured while they are working. They are also used to cover the costs that employees incur in the aftermath of their workplace injuries. The benefits that are available through worker’s compensation policies in Florida include:
- Coverage for medical bills – Employees can receive compensation for almost all of the medical bills connected to their workplace injuries. The cost of stays in the hospital, surgeries, visits with physicians, physical therapy, occupational therapy, prescription medications, medical equipment, and ambulance rides can be compensated through a worker’s compensation insurance policy.
- Lost wages – When injured employees are unable to work because of their injuries, they can recover some of the wages that they otherwise would have made. They are only able to recover a partial amount of the wages they would have made and the amount is capped at a certain amount.
- Death benefits – The families of employees that die while working are able to receive up to $7,500 for the cost of the funeral. Surviving dependents can also receive up to $150,000.
Limits to Worker’s Compensation Policies in Florida
Florida is a no-fault worker’s compensation state. This means that the fault of the injured employee is not assessed and that the focus is placed on making sure that the employee receives compensation for their injury. However, injuries that happen under certain conditions can make employees ineligible to receive worker’s compensation insurance. Employees that inflict injuries on themselves will not be able to receive worker’s compensation benefits. Employees will also be unable to receive worker’s compensation benefits if they were under the influence of drugs or alcohol when their injury occurred; failing to use proper safety gear or follow safety protocol will make them ineligible to receive worker’s compensation insurance as well.
Worker’s compensation claims in Florida have a statute of limitations of two years; this can be extended if the employee was a minor at the time of the injury or was misled about the extent of their coverage by their employer.
It’s important note that employers can face severe penalties for not having worker’s compensation policies (if they meet the necessary requirements). Penalties include large fines, stop-work orders, and lawsuits from employees. While typical worker’s compensation policies do not include compensation for pain and suffering, lawsuits filed by injured employees can include compensation for pain and suffering and often cost the employee much more than the price of a policy.
How Worker’s Compensation Policies are Priced
Worker’s compensation policies are priced according to the level of risk associated with an employee’s job and the company’s past experience filing worker’s compensation claims. Jobs that are risky—such as those in the construction industry and construction-related industries—can always expect to pay much more for their worker’s compensation policies. Businesses that have been in existence for less than three years also pay more for their worker’s compensation policies.
To get a quote on a policy from NPN Brokers, Florida companies can visit NPN’s website and enter some basic information about the employees and the industry that they do work in. They can get a quote on a policy within a few minutes.
Get in Touch with NPN Brokers Today to Get Worker’s Compensation Policies for Your Small Business
If your business is not exempt from needing a policy, you will need to get a policy. Luckily, NPN Brokers makes it easy for businesses to get the coverage they need to be compliant with Florida law. Get in touch with them soon to discuss the right policy for you or visit their visit to get a quote on a policy. Call NPN Brokers at (866) 340-9120 today.