Workers Comp Blog

Workers Compensation Providers & Home Health Care Businesses

So, you have just successfully opened your home health care business, congratulations! Up until this point you have put tons of energy and effort into tasks like finding a location, acquiring City and State licenses, purchasing equipment and last but definitely not least, and hiring employees.  Your employees are the bread and butter of your particular business they should be protected and treated accordingly. In the rest of this blog I will be helping to give you some insight into Workers Compensation industry providers and some tips and tricks to help you find the right fit for you.

Why do you need Workers Compensation Insurance for your Home Health Care employees you ask? Besides the fact this is a law in California and the penalties for not having it can be debilitating to say the least. Your business is so unique in the fact that your employees are constantly in unfamiliar surroundings while caring for other people who are not always physically capable of taking care of themselves. This means they will be picking up a lot of slack when it comes to not only emotional strain but physical labor as well. This increases your employee’s chances of getting hurt on a daily basis dramatically.

When trying to decide on an insurance carrier that is right for you, people often ask themselves PEO or traditional? The answer to this question really depends on your preference. When you decide to go with a PEO, they can handle things for you such as payroll, payments and even help you with audits. To some this can be lifesaving because it may relive other employees of these duties, allowing them to focus on other aspects of running your business. The downside of a PEO some think is that you will in fact be paying for these services. Some however like to go with a traditional carrier as they like to be more involved and have more control of these aspects of their business. There is no wrong way to go, it is just what works best for your personal needs.
Now that you have decided which way you would like to go, here are some helpful tips on how to decide which carrier is your best bet whether it be a traditional carrier or a PEO.

  1. Ask a colleague or Friend
    Many times when getting into a business like Home Health Care you may already know someone who is or has been in this industry. It can’t hurt to reach out to them to see if they have any input or a preference of their own. Maybe they really loved or really disliked a particular carrier, you never know until you ask!
     
  2. What is their AM Best rating?
    AM Best is a government approved agency that rates every admitted carrier in the State of California. You will always want to look for and do business with an “A” rated carrier. PEO’s unfortunately do not have to adhere to this system and are not rated by this agency so you will have to use some of these other methods to research them.
     
  3. Check out their website
    This is a very effective way to familiarize with the Workers Compensation Company you may very well be working with. These websites will often offer tons of information about their services and perks they provide for their clientele. As well as useful contacts and forms etc., you may need in the future.
     
  4. Go Online
    Blogs and articles can be very helpful and packed full of information. You should be open minded when reading these but also wary at the same time as the information may not always be totally accurate. This is more for educating yourself and taking in as much useful information as possible.
     
  5. ASK YOUR AGENT!!!!
    There is no one more qualified and who has your best interest in mind than your agent. Your agent has all the experience needed to help aide you in making your decision. They have worked with many carriers as well as clients so they know both ends of the industry. They can give you the negatives as well as the positives. They can also shed light on situations you may be concerned about as they have many clients in your industry that they have helped successfully guide in the right direction.

 

In conclusion, as a Home Health Care Agency who is looking to get Workers Compensation Coverage you must do your research. It is important to remember however that you are not alone in this! Your agency and agent will always be there to provide you with all of the tools and support you will need to make the right decision.