Business Insurance Requirements for Employers

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Insurance Requirements for Employers

The law requires businesses establishments with active employees to pay for certain types of insurance: They are required by unemployment insurance, workers’ compensation insurance and depending on the business location as well as disability insurance. so, let’s take a look at the Insurance Requirements for Employers in the united states

Unemployment Insurance Tax

Any business that has employees is required to pay for unemployment insurance taxes under certain conditions. This means if your business is meant/required to pay these tax fees, then you must register your business with your state’s workforce agency.

Workers’ Compensation Insurance

Just like unemployment insurance, businesses with employees are required to carry workers’ compensation insurance coverage using commercial carrier, it can be done on a self-insured basis or through the state Workers’ Compensation Insurance program. Kindly visit your state’s Workers’ Compensation Office for more details and information about your state’s program.

Disability Insurance

In disability insurance, some states require employers to provide/give partial wage replacement insurance coverage to their eligible employees for non-work related sickness or injury cases. At the moment, if your company workers or employees are located in any of the following states, then you are required to purchase disability insurance for them:

  • California: Employment Development Department
  • Hawaii: Unemployment Insurance Division
  • New Jersey: Department of Labor and Workforce Development
  • New York: New York State Workers’ Compensation Board
  • Puerto Rico: Departamento del Trabajo y Recursos Humanos/Department of Labor and Human Resources
  • Rhode Island: Rhode Island Department of Labor and Training

 

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