Using our PAY-AS-YOU-GO payment plan eliminates the need for costly down payments and increases your month to month cash flow, so you can use that money to grow your business. If you are a state or local government, you are required to carry workers compensation coverage. Non-construction companies with four or more full or part-time employees are required to buy workers' compensation insurance in Florida. * Additional premium costs may also include an expenses constant, terrorism charges, catastrophe charges and other state surcharges such as a second injury fund or other state assessment fees. If you need help with a workers compensation problem or have a specific situation or question please contact our office. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Because not all Florida businesses are required to have workers comp insurance, you might be wondering what that means for you and your company. State guidelines often determine the dollar amount of coverage. Commissions do not affect our editors' opinions or evaluations. Workers' Compensation, Workers Comp Insurance The journals or printed bills of the respective chambers should be consulted for official purposes. If requested by April 21, 2023, a hearing will be scheduled and announced in the Florida Administrative Register. (adsbygoogle = window.adsbygoogle || []).push({}); Procedure before the judge of compensation claims. That way, you can stay protected at a lower cost, even if Florida doesnt require your business to purchase workers comp insurance. Tallahassee, Florida 32399-0680 850-921-6966 When allowed, extraterritorial provisions allow benefits for an injured worker to apply as if the worker was in their primary state. States that require workers' compensation based on minimum payroll can allow businesses with many employees working for a lower wage to avoid purchasing workers' comp insurance. Quotes for Florida Workers Compensation Insurance Calculate Rate & Premium Remuneration vs. 2023 Forbes Media LLC. While there are a few exceptions to this rule, exempt businesses might still decide to purchase insurance in case of a work-related accident. In fact, with most carriers, the premium audit is done in our office. Our Attorneys. $950 ($500 for the construction industry)/$2,900 as of 1-1-2021. A workers' comp policy is a no-fault system that Return to Work Programs. LLC members will be included on their Workers Compensation insurance policy; however, they may elect to be exempt by filing a Notice of Election to Be Exempt with the Division of Workers Compensation. Did you know Pay As You Go workers' We can also analyze your aggregate loss history to determine where significant losses are occurring and develop strategies to mitigate them. Instead of determining workers compensation based on a minimum payroll, Florida law requires businesses to purchase insurance based on the number of employees. Workers' Compensation Settlements For Surgery, California Workers Comp Settlement Chart, Doesn't cover contract entertainers, commercial fishermen, domestic servants, harvest/transient workers or taxi cab drivers. iBusinessSolutions is one of the fastest growing Payroll Companies that services Tampa, St. Pete, Bradenton, Sarasota, Venice, Port Charlotte and the rest of Florida. . PDF Select Accounts Payroll Limitations for Owners and Officers $5,000 is the average policy premium generated for more than two years.