Tennessee Workers Compensation Coverage

No business owner wants to think about an employee getting injured while at work or potential lawsuits over medical payments and lost wages. Unfortunately, such things are very possible in any company. Tennessee workers compensation coverage is there to protect both businesses and employees in the event of an accident. Make sure that you understand exactly what workers comp is and your responsibilities.

What is Workers Compensation Coverage?

Basic workers compensation coverage pays the medical costs and lost wages for an employee who is injured while on the job. Medical payments include both immediate treatments right after the accident occurs as well as ongoing treatments that may be required for long-term, more serious injuries. The cost of your coverage is, in part, determined by the number of claims you make over time. Safety programs, drug-free workplaces, and return to work programs can all reduce your costs as a business owner.

Understanding Workers Compensation in Tennessee

Workers compensation coverage is required throughout the United States and many of the rules are the same from state to state. If you own or operate a business in Tennessee, it’s important that you understand the specific requirements and rules for the state:

  • In Tennessee, workers compensation is required if you have five or more employees.
  • Construction and coal-mining businesses are required to have coverage if you have one or more employees.
  • Subcontractors are required to carry workers compensation coverage in Tennessee.
  • Owners of a construction business must include themselves in coverage or make sure they are listed on the Exemption Registry.
  • Sole proprietors, partners, and members of LLCs are excluded but can be included in coverage.
  • Corporate officers are automatically included in coverage but can opt-out of workers comp coverage.
  • Accidents must be reported within one working day of your knowledge of it occurring.
  • Injured employees must be presented with a panel of at least three medical providers who are not associated with the same practice. Employees will choose a provider from this panel.
  • For back injuries, the panel must be increased to at least four providers and include a chiropractor.
  • Injured employees are entitled to payment of their medical treatment, disability benefits while they are unable to work. Death benefits must be paid if an employee is killed while on the job.
  • Businesses with an experience mod of 1.20 or higher must have a safety committee until their experience mod falls below this level.
  • If you fail to provide workers compensation coverage in Tennessee, the penalties you’ll pay will be at least 2.5 times the cost of your estimated yearly premium for workers compensation coverage.

Purchasing workers compensation coverage makes good business sense while making sure your employees are taken care of if they’re injured on the job. Failing to provide workers comp in Tennessee is not worth the temporary cost savings – especially if you end up in the middle of a lawsuit.

The team at America’s Workers Compensation is ready to work with you, answer any questions you may have about coverage, and put together the best quote for your business. Contact us today, and let’s make sure you have the right workers comp insurance at the best price.

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