Like many insurance policies, workers compensation requirements vary state to state. Indiana is no different. If you own or plan to start a business in Indiana, you are likely to need workers compensation insurance.
In general, employers in Indiana are required to offer coverage for all employees. There are a few exceptions to this rule, however.
Indiana Workers Compensation Exclusions
Those who are not required to carry or be covered under workers compensation include:
- Sole proprietors
- LLC members
- Independent Contractors
- Corporate officers
- Licensed real estate agents
These types of employees are not legally obligated to be covered under workers compensation, but they can choose to be covered.
Indiana Workers Compensation Coverage
In Indiana, workers compensation is offered through private insurers for businesses and business owners to protect their employees. Coverage under workers compensation insurance includes:
- Medical bill coverage helps the injured employee with immediate and necessary medical expenses such as an ambulance, surgery, check-ups, first aid and more.
- Disability benefits step in if the employee is unable to return the work due to an injury. There are four main types of disabilities: partial temporary, partial permanent, total temporary and total permanent disability. Vocational benefits are also available for employees who are unable to work in their original industry due to the injury.
- Wage replacement helps cover a portion of an employee’s wages while they are unable to work.
Who Needs Workers Compensation in Indiana?
Normal employees, staff and managers must be covered under workers compensation across industries. This insurance will not only cover injuries that your employees may sustain, but it also covers your business from lawsuits in case of a work-related injury. Workers compensation is especially important for industries where physical labor is expected or required, such as contractors or warehouse workers.
Disputes over workplace injuries in Indiana may be settled by the Indiana Workers’ Compensation Board, which consists of seven members appointed by the governor. Employers or employees involved in a dispute may file a Request for Assistance form, which will then be taken to a case coordinator. This case coordinator will help settle the dispute after interviewing both parties.
How Much is Workers Compensation in Indiana?
The cost of workers compensation is calculated primarily on your company’s payroll. The more employees you have insured, the more you will pay for workers compensation insurance. It is crucial to have the right amount of insurance to cover your employees and potential losses, however.
Also Read: Workers Compensation Rates Continue To Decline in Indiana