The rule in Florida for requiring workers’ compensation is, “If you are in an industry, other than construction, and have four or more employees, full-time or part-time, you are required to carry workers’ compensation coverage, yet an exempted corporate officer does not count as an employee” (http://www.nfib.com/content/legal-compliance/legal/workers-compensation-laws-state-by-state-comparison-57181/).
Well your next question may be, “what is worker’s compensation?” It is a form of insurance providing wage replacement and medical benefits to employees injured on the job in exchange giving up the employee’s right to sue their boss for the accident. It’s reassurance for your employees that if something happens to them on the job, they will be taken care of medically and financially. Also it’s the safety net that takes away the risk and liability of a business owner losing everything in a trial because of a work related accident. It is absolutely necessary in jobs with a high risk of injury like roofers and other types of industries where you are outside and operating heavy machinery. One bad accident in these types of jobs could send a small business right down the drain without proper coverage. Even if you aren’t in one of these professions though, it is just a smart business decision to have that extra level of protection.
So now that we know we need it, how do we get workers compensation? As a business owner, you would have to file a claim to a carrier, wait for approval, and if you aren’t accepted, then you either need to look for another carrier or work on appealing the denial. Also since it is state required, if you can’t get approved, this will cause problems for your business. So instead of working on your business and making money, your time is being consumed by human resource difficulties. This is where AYS Employee Leasing and Payroll Services comes in! When you outsource your payroll through us, your employees are then covered under our existing workers compensation policy. This is great for small businesses that are struggling to get the insurance because they either have too high of a deposit quote from the State (Florida Workers’ Compensation Joint Underwriters Association), or insurance companies that won’t write them a policy because their monthly premiums would be too low. Now just because the law reads that you don’t need workers compensation if your business is less than four, doesn’t mean you lose the responsibility of having to pay for all the expenses that come along with an injured employee, including the lost wages, medical bills, and rehabilitation. So why even take the chance? We take all the stress and hassle out of getting covered and give you back that time you were spending on human resource issues, to make your business better!
Here is the bottom line; AYS affords its clients the ability to receive workers compensation coverage for their employees even when traditional workers compensation carriers aren’t able to.