Alternatives for employee protection
Texas employers have three choices to protect their employees from a workplace injury,
One choice (traditional and expensive) is to purchase workers compensation insurance. Texas Worker’s Compensation is the exclusive remedy for all work-related injuries, incurs zero deductible exposure for the employer and has substantial benefits for the injured worker/employee. The cost/premium for workers compensation is based on payroll, a percentage of payroll. The riskier or more dangerous the job the higher the percentage, an office worker’s premium would be less than 1% of their gross payroll and a welder’s premium could be 8% of their payroll.
Another choice is to have no insurance… Texas is the only state in America that does not require employers to purchase workers compensation. (to protect their employees from a workplace injury) This is risky business, to rely upon cash flow and assets of the business to pay for ongoing medical bills along with potential litigation. Unfortunately many businesses cannot afford the high cost of traditional workers compensate, so they self-insure and live with an unfunded liability that could destroy their business every day.
Another choice is to purchase the alternative to workers compensation, also known as accident insurance. This alternative insurance policy protects employer’s and provides funds to pay the doctors and hospitals for services provided to their injured employees.
For those interested in considering becoming a responsible nonsubscriber, please review this information (http://www.txans.org) & contact me to learn how you can save 40% or more off your traditional Texas Worker’s Compensation insurance.
Lou Zettler
