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  • Writer's pictureSpencer Kohler

What Every Small Business Should Know About Washington’s Worker's Compensation Insurance Laws.

Are you a small business owner or a self-insured employer in Washington State? Are you looking for more information on worker’s compensation insurance laws and requirements? The world of workers’ compensation coverage, as known as workman's comp, worker's comp, or comp claims, can be difficult to navigate, especially when trying to comply with the regulations and laws of different states. Knowing the ins and outs of the rules in your state can help make sure your business remains protected. In this article, we will provide important information about Washington’s worker's compensation insurance laws that every small business owner should know. To start, every business with one or more employees must provide workers' compensation insurance coverage. As a small business owner in Washington, it is important for you to understand the third-party administrator (TPA) retrospective rating system. This system was introduced by the state government in order to provide employers with greater control over their workers’ compensation insurance costs. Through this system, your business will receive a rate based on its claims history over a period of three years. The more compensation claims that are filed, the higher your rate will be. This incentivizes a reduction of Work-Related Injury. Additionally, understanding the steps for obtaining worker's compensation coverage insurance in Washington State is essential for any small business. The first step is to register your business with the Washington State Department of Labor & Industries, as well as obtain a workers’ compensation policy from an insurance provider. This policy will provide cash benefits and/or medical care for your injured workers, finding them medical benefits that cover their medical bills. You will then need to provide notice of coverage for all employees and post the required information in a visible location. Another important compensation law is the coverage of part-time employees. All workers in Washington are entitled to compensation benefits, including those who work part-time or intermittently. You must provide the same comp coverage to all of your employees, regardless of the hours worked on their Annual Payroll. Employers are also responsible for providing compensation to domestic employees, such as nannies or agricultural employees. Domestic workers are not included in Washington's worker's compensation insurance, so employers must purchase a separate policy for them. In the event of a workplace injury, employees are entitled to compensation requirements including medical expenses, lost wages, and other benefits. It is also worth noting that in the state of Washington, workers’ comp is only available through the state fund. This means that it is illegal to use a private insurer. We hope this article has provided you with some key insight into Washington’s worker's comp insurance laws. Remember, it is important for every small business owner to understand the regulations of their state in order to remain compliant and properly protect their employees, as well as themselves from unnecessary employee lawsuits. Are you ready to apply for workers’ compensation insurance in Washington State? At Risk Finance, we understand the complexities of the worker's compensation system and are here to help. We are more than just an insurance company. With our experienced team of agents, we make sure that you receive personalized service and tailored comp coverage for any type of worker. We want to help you to navigate your worker's compensation claim management, make sure to reach out to us today so we can find the worker's compensation insurance policy that best suits you.

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