In most states, any employer having more than 5 employees must provide workers’ compensation benefits to it’s employees. Those benefits cover medical expenses (including death benefits) and lost wages, resulting from a
job-related accident, for the period of disability. They are paid irrespective of the proximate cause of the injury or any negligence consideration, as long as the injury occurred while the employee was in the course and scope of their employment.
The cost of workers compensation coverage is determined by 3 major factors... The class code (description of the job), payrolls in those class codes, and the employers experience modifier. In labor intensive industries like healthcare, workers’ compensation can be one of the employers greatest expenses. HRS is highly skilled in the placement and management of workers’ compensation coverage for healthcare organizations.
HRS provides a full range of qualified workers’ compensation programs based upon the employers business plan and appetite for risk. These options include traditional guaranteed cost, large deductible, and loss-sensitive or retro rated plans. For those who qualify, we can enroll you in our specialty Captive insurance company,
Preferred Healthcare Insurance Group (PHIG).