Page 20 - Mississippi 811 Magazine 2020 Issue 1

_ heueyer au iucideut occurs — out in the lield
5%‘ W9”"° "°°"'“ or iu the shop, "was auyhody hurt?" is the first
me may Center . . .
queslmn that crosses your rruud. And well |I
"’°*“"' “S should hel

A worker iuiured or. the ioh cau he haudicapped tor lite — aud
whos gouua pay tor his care? If he works lor you aud you dout
)i‘av1: workers corup iusurauce — guess who's gonna pay tor all
D I is.

ltauyoue works for you — eoeu part time — you're really rolliug
the dice if you don't carry workers comp.

" " ‘ “My state says 1 dou't have to." N01 your state says you must
s have it it you have a certaiu uuruher nf employees. lt doesut say
‘ « anything at all ahout how you're uot liahle to pay medical bills
‘ and rehah aud lost wages it soroeoue who works lor you gets
hurt or. the ioh. Because you are liable.
-- ' _ consider a car wreck (or just a moment. Let's say you seud
‘ _ sorueoue to the hauk to make a deposit or drop oer ruail driving
oue or your vehicles. truck hauliug eouipmeut tor examplfis
and there is a wreck. lt doesut matter whose tault it is. what
‘ matters is that your employee is hurt—wait, was there more
thar. oue eroployee ir. that vehicle? workers corup pays lor
uuliroited — yes unlimited — medical hills. And rehah. lt eueu
/ 4’ \\ pays lost wages (or a certain uuruher ol weeks
' why would auy husiuessruah put himself iu that predicarueut
wher. workers comp is a cost ol doiug husiuess aud is
~. ~— deductible? Just as deductible as the diesel luel used to ruu
\\ \\ fig , that excavalor. ox, they often ouly buy liahility iusurauce
Q’ . because it is required — either hy their Board of coutractors
4 ,,/ or the job they are doiug. But il soruethiug goes wrong, the
v iusurauce ageut is the 4th persou to lruow ahout it. right hehiud
“ I the guy who did it, the guy he did it to and you, the coutractor.
‘(Q " \\ You cau exclude yoursell lroru coverage if you chooser hut
, . ' why ou earth would you?? its the mnsl iuexpeuswe, most
, _ coro rehertsiye couera e tor ‘ob related iuu or. the laueti
,, . P i; l l ry P
/ , Remember that part ahout “losl wagEs'":‘ Ynu also ueed to kuow
. that a lot of health iusurauce corupauies are declining to pay
~ work—related injury claims.
‘.‘ ‘ ' . Yes. workers corup corupauies audit your payrolls evexy year-
, t to he sure they are collectiug the right aroouut ol preroiuru —
l . , aud yes if your payrolls are less than expecledr you will get
‘ ;« . v a retuud. More iroportautly, if your payrolls exceed what was
« anlicipaledr your workers are covered auyway, aud the premium
._ . won't be collected lor them uutil uert audit or reuewalz
, ‘ Guy-sf golug shonou lusurauee isr.'t sayiug you mortey at‘
N all—iIs costrug you ln the loug run. l was ouce told, Your 10b
is to sell me insurance." No, actually. my job is keeping you out
ol auaucial trouhle in the eyeut ol au accideut. whether its a
/ mistake you ruight have made, a red light your guy decided

to run a ladder that slipped—the opportuuities tor loss are
eudlessi

lu ruost cases. couut or. workers corop to take care ol it for
you aud therul .

to . Mlsslsslupltill 202O,lssu21